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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Ethereum, SOL, BSC These Are The Winners Of The “Ecosystems Wars”

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Ethereum ETH ETHUSD

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A report by Messari researcher Roberto Talamas explores the performance of the most important cryptocurrencies in the “ecosystem wars”. From Ethereum, Cosmos, Solana, Binance Smart Chain, DeFi seems to be moving from a “trend” to a relevant sector for any platform looking to take a share of the $55.29 billion in Total Value Locked (TVL) on these protocols.

According to Talamas, Polkadot and Cosmos’ assets were amongst the worst performing of the week. With DOT down 27.2% in the 7-day chart and ATOM down 30% in the same period. Cosmos, assets saw losses from 4% to 27% much like Polkadot with 14% to 30% losses in KSM, POLY, AKRO, and other major tokens.

Ethereum ETH ETHUSD
Source: Messari

Solana (SOL) was somewhere in the middle like Talamas said. From April 15th to April 18th, SOL saw bullish price action and took 29% gains. At the time of writing, SOL is moving sideways in the 1-hour chart with 8.1% losses during the day following the general market sentiment, but still up 25.2% in a week.

Solana’s ecosystem followed a different trajectory with AUDIO, RAY, HXRO, and others on a downtrend after the crypto market crashed last weekend. AUDIO and KIN have 26% and 28% losses and have the worst performance in this ecosystem.

Binance Smart Chain’s assets saw similar action with PancakeSwap’s native token, CAKE, with 11.3% in profits, at the time of writing and 129% in the 30-day chart. As reported by NewsBTC, CAKE began a migration process and could experience further buying pressure from its updated burn mechanism.

In terms of on-chain activity Binance’s CEO, Changpeng Zhao, reported 9 million transactions during yesterday’s trading day. This metric has been increasing at a significant pace since February 2021. Zhao took the opportunity to address Ethereum’s developers.

If you want to target only 10% of the users, then build on E..

If you want 9x more users, then #buidl on #BSC.

Not financial advice. https://t.co/bzyMGlG5WT

— CZ 🔶 BNB (@cz_binance) April 23, 2021

Alpha Finance (Alpha) and Cream (CREAM), as the researcher stated, have underperformed with a 36.7% and 46.9% loss, respectively.  As seen below, XVS and BNB represent the contracts in BSC’s ecosystem with a 26% loss and 3% profit respectively.

Ethereum ETH ETHUSD
Source: Messari

Ethereum, Still The Undisputed King

Ethereum’s assets in DeFi have poor performance as well. With major assets like UNI, YFI, SNX, SUSHI with up to 28% losses. Only MakerDAO (MKR) was able to stop the bears and yield a 58% return in the same period. This Maker sits at the top of DeFi, closely follow by Compound, with a TVL of $9.03 billion.

Additional data provided by Messari points to an increase in the lending sector during the first quarter of 2021. Lending protocols Aave, Compound, and MakerDAO dominated the sector which stood at an all-time high with $25 billion. However, Compound process the majority of outstanding loans with a 53% market share.

Ethereum reached an all-time high before the crash, as trading volume for the spot and derivatives market was running hot. At the time of writing, ETH sits at $2.377,42 with 5.2% losses in the 24-hour chart and 42% gains in the 30-day chart. Volatility could still have a major role in the coming days’ price action.

Ethereum ETH ETHUSD
ETH with moderate losses in the daily chart. Source: ETHUSD Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
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