The crypto ecosystem has become a part of the global markets with its strong correlations with stocks and others. The first forms of the altcoins were created with a single narrative: BTC killer.
Once the market acknowledged that the place of Bitcoin is totally different from the new cryptocurrencies, the race between " alternative coins " and Bitcoin ceased. Then, the new type of fight occurred on being the platform of platforms.
Veteran crypto investors know that only a few projects in crypto have survived 2 severe bear markets and only a limited portion of them have a real product to use in real life. In that sense, XRP, a product of Ripple gross settlement system, is used by lots of banks around the world.
On the other hand, Ethereum and some other " smart contract chains " race to be the chain of every on - chain activity because Bitcoin mainnet is not capable of hosting complex smart contracts nor its speed is adequate to approve millions of transactions per second.
Due to the limitations of the chain but the reputation of itself, Bitcoin is categorized as the gold of crypto while Ethereum is seen as a profitable company such as Microsot, Apple or some other tech giants.
Until now, the narrative of Bitcoin has been preserved (after the hard fork era when BCH, Satoshi's Vision and many others challenged the current chain). Aside from the king of the crypto, XRP holds its number one position in bank - to - bank solution systems. Stellar, the project that was like a twin of XRP, had long been forgotten in the history of crypto market.
Now we have:
The digital gold Bitcoin,
The chain of assets Ethereum,
The blockchain - based banking solutions XRP
The leading DeFi coin UNI
and the vending machine of crypto SOL.
Maybe we can add AI & graphics products, such as RNDR and CEX coin BNB.
The rest of the existing projects and the new ones that will pop up in the next bull market have to come up with something exceptional to be able to overthrow the leaders of the narratives.
Imagine that a group of genius devs will come together, create a super product, get support from Venture Capitals, build a community, attract new developers, create an ecosystem, run great marketing campaigns and sustain the tokenomics of the coin so that they can compete with the leading projects.
This sounds a bit challenging to make it happen but there is nothing impossible in this market. Though it is quite unlikely to create a new digital gold with a strong history, a super fast and secure blockchain can easily attract people to build or spend their sources.
What do you think about the leading projects on these narratives?
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