Crypto Liberate
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Binance has been a stellar performer of late; like Coinbase, it is the gateway for so many people entering into crypto. The binance token (BNB) has become a force in crypto in itself. Many crypto projects have moved to the binance smart chain as an alternative or supplement to Ethereum; the Ethereum network has been impacting its users lately with high gas fees due to network congestion. George gives an in depth analysis here of the benefits Binance chain has to offer. https://www.youtube.com/watch?v=bX24RUGAJls
For anyone that follows Plan B's stock to flow model, we have actually been fronting running (outperforming) the bullish model, that is until now... we're back in sync with the model.https://cointelegraph.com/news/bitcoin-price-relief-move-to-47k-pushes-btc-below-stock-to-flow-trajectory
Why off-board into fiat? In a market dowturn, when the total market capitalization (currently about 1.9 trillion) of cryptocurrency decreases, the majority of these assets are likely going back into fiat (unless someone is buying a whole lot of Teslas in Bitcoin). Even traders can hold their crypto in Tether (USDT) temporarily. The long term believers and HODLers of crypto know that at some point in the future, the total market cap of crypto will be much higher.
Demand for PayPal’s Cryptocurrency Offering Blows Past Expectations, According to CEO Dan Schulman https://u.today/demand-for-paypals-cryptocurrency-offering-blows-past-expectations-according-to-ceo-dan-schulman
This is how financial disruptioin works... you will soon be able to trade stocks on the blockchain. This is just the beginning as there will be many more to follow; buying and selling shares of corporations on chain will ultimately prove to be more flexible and more secure and will just be another reason that people will want exchange fiat for crypto. Think of how much money will be onboarded for people that want to hold stock in crypto. Eventually we may even see such securities sold directly on a blockchain. Apple, MicroStrategy and Microsoft Stock Tokens Are Coming To Binance https://decrypt.co/69070/microstrategy-apple-and-microsoft-stock-tokens-are-coming-to-binance
Here is the weekly chart on Ethereum gas prices. Since the Berlin upgrade on April 15th, Ethereum has seen a steady reduction in gas fees. Since many alt coins are run on the Ethereum blockchain, the entire crypto industry is impacted by high gas fees. Lower gas fees generally means lower transaction costs for buying and selling Ethereum related crypto, this is why alt coins have been pumping: as you can see transactions are becoming alot more feasible with a steady decline in gas fees.