Crypto Chart of the Day 11/7/19 — Binance’s Dominance On Display Via Multicoin Capital
Thesis-driven crypto investment firm Multicoin Capital has long been one of the most sophisticated providers of crypto research. Their last piece on Binance in February, laid out a bullish case for BNB , then trading at $10.06 (It’s now $20.34). Their latest 17 page report, “Binance is Blitzscaling” provides an in depth look at how Binance is successfully executing on its aggressive strategy to dominate the crypto exchange and related markets.
Nowhere is that dominance more apparent than in looking at their position as the most liquid exchange in 49 of the top 50 traded tokens. In fact, Bitcoin SV is the only top 50 token that doesn’t trade more daily spot volume on Binance than any other exchange. And that’s because Binance delisted it in April, 2019. What’s even more impressive, is that their dominance has all come about since they launched the exchange in July, 2017:
And they continue to grow on their dominance:
Given Binance’s growing dominance, and their proven execution skills, Multicoin believes hat BNB is still “sharply undervalued”. “Binance is Blitzscaling” is great work and a great read. Kudos.
Crypto Chart of the Day 11/6/19 “The System Is Broken by Ray Dalio
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