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Hello and welcome to another article.
In this article, I'd be comparing BNB and LRC to see which one is more fundamentally sound to pick up in this dip.
Bitcoin mover again, and took alts with it. But while many ar scared to buy, it's actually the time we should be buying.
So with that said, let's get into the article.
WHY SHOULD YOU PICK UP LRC?
LRC has been a slow mover. A very slow one of late.
About 2 weeks ago, I did a price analysis of LRC, where it lost a trendline support. Well, LRC is still consolidating under that trendline.
To give it some props, it didn't dump so badly when BTC moved, but gosh it has been slow.
For that reason, I won't solicit a buy for short term traders. However, if you're looking at the longer term(like me), this may be a nice place to fill up your bags.
LRC is a rather useful exchange token, and it powers one of the better DEXs out there: the Loopring exchange. I've used the exchange once (back when Publish0x did a contest on it), and I've been hooked since then.
There's really nothing special about the exchange, but it trumps most of the better exchanges out there.
Loopring exchange also undergoes system maintenances regularly, and has updates done to the exchange regularly. It's well maintained.
But the major reason why I have quite an amount of LRC is this: It looks exactly like BAND before its parabolic run.
Price is fractal: We all know this. When one coin looks like another, it usually acts like the other coin. And we all see how BAND player out.
To be honest, LRC would give some sick gains come year's end.
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WHY SHOULD YOU CONSIDER BNB?
On the other hand, BNB is a very strong token in itself.
It powers Binance, which is the world's biggest centralised exchange: no cap. It is also used in all Binance services, including their DEX, Swipe wallet and many others.
BNB also has the backing of Binance Labs, and has this special feature: You can convert your redundant cryptocurrencies to BNB.
This may not sound like a big deal, but when you look at it, this indirectly increases the market cap of BNB, which in turn increases its price.
So if many users keep doing this, BNB's market cap can continue increasing.
Coupled with the token burns, this can make BNB one of the most valuable crypto assets very soon.
For these reasons, I'll choose BNB over LRC on this dip.
But that's my opinion. What do you think?
Let me know down below!
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