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February 19, 2021: Binance Declares War on Ethereum ⚔️🤕
#BSC blocks #ETH withdrawals as the Great Chain Wars escalate
Here are today’s trends to watch from Curve Market Cap:
Just a week after we chronicled the exodus of cryptocurrency to Binance Smart Chain to avoid gas fees, some people got a firsthand lesson in decentralization. For about forty minutes this morning Binance disabled withdrawals from BSC to ETH.
The twitterati lit up.
Some people interpreted this as Binance firing a shot across the bow.
Others don’t see BSC as a credible challenger, particularly in light of this event.
Speculation about the cause of the announcement abounded.
Robinhood comparisons quickly emerged.
Others drew parallels with AOL
At any rate, competition between chains is real and intensifying. PancakeSwap is now the highest volume AMM.
Sure, control over your money is great and all, but everybody has their price:
Whatever may happen with the chain wars in the future, it is the case that BNB has stolen the bronze medal position from Tether, prompting reflection on what exactly this all means.
If the chain wars do heat up, we can at least guarantee there will be memes.
For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a $CRV staker and perma-bull.