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Which One Does Not Belong?

which one doesnt belong.jpg

I'm going to show you the graphs of cryptocurrency price action from various coins over the past year. You pick which one does not belong in the group.

#1: Bitcoin

1 year bitcoin.png

#2 Ethereum

1 year ethereum.png

#3 Ripple

1 year ripple.png

#4 Litecoin

1 year litecoin.png

#5 IOTA

1 year iota.png

#6 Dash

1 year dash.png

#7 Monero

1 year monero.png

#8 NEM

1 year nem.png

#9 Binance

1 year binance.png

#10 Steem

1 year steem.png

#11 Siacoin

1 year siacoin.png

#12 Bitshares

1 year bitshares.png

#13 Nano

1 year nano.png

#14 Augur

1 year augur.png

#15 Dogecoin

1 year Dogecoin.png

#16 Golem

1 year Golem.png

#17 DigiByte

1 year DigiByte.png

#18 Basic Attention Token

1 year bat.png

#19 Ark

1 year ark.png

#20 Monacoin

1 year mona.png

If you chose #9 you are absolutely correct!

Seriously though, wtf is up with Binance?

I've already mentioned this before, but in the face of this latest crash it is even more apparent. Binance's coin has broken away from the mold. What's better than a stable coin that stays flat? A stable coin that has a constant uptrend. Binance may be that coin.

I feel foolish for noticing this so long ago and not having put more of my investments into it. I keep thinking it's bound to crash, but even after everything else has lost 30%, BNB hasn't even dipped under the positive support line. It's truly a surprising turn of events.

4 months binance.png

BNB may become a coin of self fulfilling prophecy. If it's variance remains low and it's support line continues to be positive (or even flat) investors are going to start using it as a stable coin. When the price gets pumped it's connected to 66 other coins and holding it reduces the trading fee to 0.05% (x0.0005). This gives huge incentive for BNB investors to buy other coins and bring the price back down. When the price is low buying is a no-brainer and it can be purchased with fiat indirectly or via the 66 paired coins.

BNB appears to have a flat variance of +/- $4 to $6. When BNB was worth $6 these were huge swings, but now that BNB is steadily climbing and holding the same flat variance the percentage of the swings becomes less and less. The support line and the resistance line have remained extremely tight since Feb 6. The fact that the resistance line and the support line are pretty much the exact same angle pointed upward in parallel gives the appearance of a very stable cryptocurrency.

BNB may be an ERC-20 token, but it doesn't really rely on Ethereum much. Ethereum's scaling issues do not affect BNB because Binance doesn't have to move coins between wallets, they simply have to track who owns what on their private databases. Investing in BNB is much closer to owning a stock in a company. You have to trust Binance.

Binance is a great exchange. It's my favorite one by far. I think they are going to play a big part in the mainstream adoption of cryptocurrency. They are currently working hard to secure fiat to crypto trading pairs. and they allow you to create an account without invasive know-your-customer regulations.

Time to put my money where my mouth is. BNB here I come.

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Which One Does Not Belong? was published on and last updated on 13 Jun 2018.