If Binance flips Ethereum, it represents a full-on change in the dominant philosophy in the crypto space. I'll spare you my opinion on that, because unfortunately, I'm not rich enough to have an opinion that actually matters. No matter what I say, I have to follow the market in my actions. So for me to say that Binance taking over the #2 spot means the fucking noobs have won out would be hypocritical. I'd be in Binance profiting from their noobitry.
Another thought is that some big traditional finance entity may be trying a hostile takeover. I did have that thought, and I hope it's not what's happening.
But I think it's very important for those of us who believe in decentralization and sovereignty blah blah blah to take these gains when they are presented. At the same time, don't get married to Binance. Use those gains to educate yourself to code decentralized systems. Although I think CZ has done some great stuff for the crypto space, giving him all of your money and keeping it there puts too much pressure on his shoulders. He shouldn't have to take on traditional finance and government by himself. The gains in Binance we're making should spawn off 10,000 decentralized options for new investors to invest in.
As for what's actually going to happen, I think the entire market will move up before BNB has a chance to catch up to the ether market cap. As it now stands, BNB would have to hit a price of $1604 USD per coin to pass ETH. That's not happening unless Vitalik dies or Cardano and Polkadot come out with smart contract mainnets tomorrow. Every major coin from BTC to LTC is in this takeoff pattern, possibly waiting for the Coinbase listing on the 14th to initiate actual liftoff.
I'm going to be DCAing out of my BNB definitely starting at $1000. Time to move into some other chains, try some Solana or Polygon or something. Maybe even Tron (ewww). I think other established investors will have that same mindset, which would keep BNB from flipping. Honestly, if a flip happens, I'd look out for a hostile takeover from some traditional finance institution or even a central bank or government. Actually, Tron did just this to take the Steem platform from Binance some years back. To take Binance is an order of magnitude greater, but not impossible (unless someone knows something I don't).
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