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Investing in crypto is tricky but highly profitable. For instance, there are many viable investment options in crypto today, and more are joining every month; therefore, deciding on the choice of asset is hard. It’s no doubt that BTC is the best asset, especially considering its recent bull run hitting $64k in value. Ethereum comes in second in market cap.
In the past few days, XRP and BNB have been fighting for the third slot, and currently, BNB is thriving. However, investors need to know which asset to choose between BNB and XRP. This guide will analyze the investment prospects of the two famous assets XRP and BNB, and provide a verdict on which is better. Keep reading to find out.
BNB is the primary token of the Binance ecosystem, and it is hosted on the Binance smart chain. This token was initially an ERC-20 token based on the Ethereum network. However, after the Binance smart chain’s later launch, it changed all ERC-20 tokens into BEP-20 tokens.
Currently, BNB has the third-largest market cap of $88.4 billion and a unit cost of $572.83. The charts for this particular token show some great price surges in the past few days, and if the trend continues, it may surpass the analyst’s expectations.
Therefore, it’s already clear BNB is a great investment asset based on the statistics given. What about XRP?
XRP is a cryptocurrency that runs on the Ripple net and is based on the XRP ledger. Ripplenet, a Ripple company product, is designed as a top functional payment network offering real-time payment transactions.
The most recent coinmarketcap details show that the XRP coin is trading at $1.82, and the current market cap is $82 billion. According to coinmarketcap charts, XRP’s all-time highest volume is $3.56, back in 2018. As of the writing date, XRP had just gained 12.5% in price in just 24 hours.
Although the long-term XRP prediction by various analysts may differ, the fact remains that this asset is a good prospect.
Comparing BNB and XRP
The current market cap difference between BNB and XRP is about $5 billion, which is quite insignificant considering the crypto volatility. Others suggest that although BNB is ahead, XRP will reclaim the third spot in the rankings and prove its viability.
However, even if XRP reclaims position 3, BNB has better long-term prospects than XRP; therefore, it is the better investment option. Why is BNB a better asset to buy?
Many reasons are contributing to the current success of the BNB currency. Let’s look at some of those success reasons.
1. The Upcoming BNB Token Burning
Soon, BSC will be burning some of the BNB tokens to make the coins even more attractive. Ever since the announcement about burning tokens, BNB has gained massive traction, with coinmarketcap reporting a price surge from merely $350 to $585.
As the burning draws even closer, the token demand will increase, and the value of these tokens will increase even further. It’s safe to say that the BNB coin will be better in the short run than the XRP coin.
2. The BSC Growth
Binance made a great business move, introducing a smart chain to compete with Ethereum’s Defi world. It’s no doubt that the BSC is a serious factor contributing to the growth of BNB currency. Unlike any other time, BSC, the BNB currency hub, is noticing some immense growth.
More projects are using this network to hub new projects. The BSC platform recently clocked 5 million transactions in a day, four times the daily trading size of ETH, meaning more competition against ETH. The current BSC growth is connected to the high Ethereum gas fees, scaring away most developers and general investors.
Since BSC provides smart contracts in a more favorable, scalable, and faster way, more people are attracted to the network. BNB is the utility token for both the Binance network and BSC, it is used for gas payment, and its demand rises. Therefore, currently, this token is in high demand.
3. Coinbase Listing
The BNB token is awaiting its listing on Coinbase soon, which may cause super prices. However, after the listing, this token will continually gain price due to the value that Coinbase provides. It will be quite easy to access and purchase BNB tokens, thus no hindrance to investors.
In the long run, BNB will remain a great investment asset, better than XRP.
Cases for XRP
XRP’s daily trading volume was way larger than BNB’s as of the writing date. The volume was over 32 billion, while BNB’s was a mere $7 billion. These trading volumes show XPR trending and gaining more momentum than BNB.
When compared to BNB, XRP is a more accessible asset in exchanges. This token is accessible in many exchanges; therefore, easier for investors to purchase.
This write-up has been discussing the investment prospects of the two famous crypto assets BNB and XRP. After looking into the two platforms, it’s quite clear that BNB is a better investment asset.
There are several arguments to support that, including the current state of the BNB network, especially awaiting the token burning. The demand for BNB now is higher than ever before.
Moreover, the hosting platform, BSC, is noticing some immense growth at this particular time. This chain is challenging the second-largest crypto by market cap, ETH. Therefore, as the BSC platform grows, the BNB token will increase utility and demand.
Although it can argue that XRP has proved great for a long time still, BNB’s burn policies attract investors. Therefore, both in the short and long term, BNB stands out as the better asset to buy.