Two alternatives to Bitcoin are stirring the cryptocurrency community this week. Both Coinbase crypto exchange and BNB Chain are expected to debut alternative tokens to the $BTC.
Coinbase exchange published two tweets on the X platform symbolizing their move into the store of value crypto space.
“cbBTC” reads one tweet on August 13th.
The second reads, “Coming Soon.”
Is Coinbase copying Mollars Token Developers’ Moves with cbBTC talk?
These two tweets are very reminiscent of what the Mollars (MOLLARS) token founder wrote a few months ago during the ERC-20 token’s presale stage. A store-of-value token like Bitcoin as well but on the Ethereum blockchain, its success may have inspired Coinbase to launch a tokenized BTC option.
The results from Mollars launch on exchanges thus far have been very high ROI yields for presale investors and day-traders, “playing the gaps.”
In fact, Etherem-Blockchain’s version of Bitcoin has risen in value more than 20% than Bitcoin has over the last 7 days with no signs of slowing down in chart readings.
Is cbBTC a Wrapped Bitcoin?
Perhaps this has given Coinbase motivation to launch their own ‘Wrapped Bitcoin’ token, which will be pegged to Bitcoin. At least this is what most crypto gurus are speculating currently.
It’s also believed that Coinbase will build a Bitcoin ecosystem or economy through their new ‘cbBTC’ token and the massive user base of their platform.
Bitcoin Alternative on BNB Chain Now In Presale
Binance Blockchain aka BNB-chain is looking to launch an SOV token alternative to Bitcoin like Coinbase and Mollars as well. The ‘Bitnance’ token is currently in presale and aims to be the BEP-20 ecosystem’s premier store of value option.
Token symbol “$BTN,” the name of the cryptocurrency, seems to be a spin off of “Binance” and “Bitcoin.” This could be an easy way for the brand to help identify the utility of the bep-20 token perhaps; it’s a store-of-value where traders can invest funds to hedge against global inflation and the looming fall of the dollar.
Traders understand this well today. The results thus far of that comprehension have been over 52,000 tokens sold thus far in the Initial Coin Offering [view here].
More Scarce Than Bitcoin and Mollars
However, Bitnance will be a bit different from other SOV tokens. The total token supply is lower than both Mollars and Bitcoin with only 10-million tokens being minted [per whitepaper].
Unlike the BTC, 100% of the total token supply will be sold under equal buying opportunity practices. This means, no founder or developer will be able to get tokens free; All 10M $BTN will be sold at current market or presale value.
Which SOV Tokens Have Actual Crypto Products Coming?
Mollars has a ‘DEX’ being launched in less than 2 months, surpassing Bitcoin in terms of actual product; Also ahead of cbBTC’s plans for a ‘robust Bitcoin Economy’ of products. However, Bitnance may too launch a product to compete for overall supremacy, as this is being speculated through conversations on reddit.
The reason a BNB Chain store of value could be effective is because of the blockchain’s superiority to Bitcoin-blockchain.
Users of the BEP-20 ecosystem will be able to get the benefits of a low token supply, anti-inflation cryptocurrency without the horrid fees of Bitcoin-Blockchain. Currently to buy or sell a $BTC coin, crypto traders lose more in fees than they would on any other network.
It’s suspected Bitnance could save traders who prefer the BNB-Chain over 80% per transaction.
With Bitcoin trades averaging over $30 in fees today, it’s expected a Balance-Chain user could instead invest in Bitnance and save $24 per trade.
Something intelligent money won’t be able to ignore in time, perhaps the sudden diversification of Bitcoin alternatives will be great for crypto traders on all levels and also help destroy the centralization of data, which Edward Snowden has warned of.
