Goodbye Eth and Polkadot, All Hail BSC!

By Jelly Fish | cryptofun | 19 Feb 2021

Trends have changed again. A couple of weeks ago it all was about Polkadot, all Polkadot-related tokens were pumped many-fold (not to mention they'd been already pre-pumped quite nicely by then). Today Polkadot is abandoned, all eyes are on BSC!

Actually, BSC's recent success is quite understandable: it has a cheap really working DeFi. It's still in the early stage and quite crowded with unstable (if not scammy) projects -- but it exists, it works, it attracts people who can't afford ETH-based DeFi anymore, and these people spread hype all around.

Mr. CZ of Binance did a great job (again!) -- he successfully created and promoted "the new ETH" which is better than the original ETH. Well, who actually gives a fuck about all that boring math theories behind blockchains? People want money, and they want it NOW! ETH is still alive mostly because it was recently proclaimed a new "store of value". Otherwise, the money could leave it within days if not hours.

BSC hype highlights another interesting fact: no matter how good your math is, it's pretty much useless if you fail to deliver it on time. In other words, by the time Mr. Buterin fixes ETH issues and Polkadot launches its wonders, BSC will eat a pretty big chunk of the money CAKE. Even if the BSC DeFi is not so much "battle-tested" as ETH DeFi -- triple-digit APYs and fees in cents outweigh it to a great extend. I wonder, how many ETH DeFi shrimps today desperately want to move their funds from ETH to BSC -- and can't afford it because of high fees.

Anyway, it seems BSC is here to stay. BNB and other over-hyped tokens can dump indeed, but BSC DeFi will get good money inflows as long as it maintains low fees, copy-paste contracts, and relatively high returns. Maybe we will even see BNB as a new "store of value" -- especially if it will take another year for Polkadot and others to deliver their promised wonders.



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Jelly Fish
Jelly Fish



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