#bStocks vs #altcoins - who will come out on top?
Binance has published its first actual figures. 41.5% of bStocks buyers are people who had never traded shares on the platform before. In other words, tokenised securities are not taking away from crypto’s existing audience; they are attracting a new one. bStockі market capitalisation has exceeded $300 million in less than a month. The number of listings during the same period has grown from 5 to 36.
Another point worth noting: after US exchanges close, bStocks trading volume rises to 58 per cent of the total equity volume on Binance. People are trading $TSLAB and $NVDAB on Saturday nights – simply because they can.
This does not mean that altcoins will disappear. But if bStocks offer 32–228% APY in #DeFi pools whilst being backed by real assets, some of the capital that previously flowed into speculative altcoins will inevitably shift there. This is particularly true given that institutional investors are seeking regulated on-chain instruments.
In my view, altcoins will remain. But competition for retail investors money has become fiercer. And yet many of the altcoins we’re familiar with will gradually disappear; this is already happening..
My analysis is based on data from here:
https://www.binance.com/uk-UA/blog/%D1%80%D0%B8%D0%BD%D0%BA%D0%B8/5038951482400394911
#bstockscis @BinanceCIS
Binance has published its first actual figures. 41.5% of bStocks buyers are people who had never traded shares on the platform before. In other words, tokenised securities are not taking away from crypto’s existing audience; they are attracting a new one. bStockі market capitalisation has exceeded $300 million in less than a month. The number of listings during the same period has grown from 5 to 36.
Another point worth noting: after US exchanges close, bStocks trading volume rises to 58 per cent of the total equity volume on Binance. People are trading $TSLAB and $NVDAB on Saturday nights – simply because they can.
This does not mean that altcoins will disappear. But if bStocks offer 32–228% APY in #DeFi pools whilst being backed by real assets, some of the capital that previously flowed into speculative altcoins will inevitably shift there. This is particularly true given that institutional investors are seeking regulated on-chain instruments.
In my view, altcoins will remain. But competition for retail investors money has become fiercer. And yet many of the altcoins we’re familiar with will gradually disappear; this is already happening..
My analysis is based on data from here:
https://www.binance.com/uk-UA/blog/%D1%80%D0%B8%D0%BD%D0%BA%D0%B8/5038951482400394911
#bstockscis @BinanceCIS