• According to crypto trader Lark Davis, four crypto assets are ‘nibbling away’ at Ethereum’s market share

  • Lark Davis, a crypto trader, has identified four assets that he claims are “nibbling away” at the market cap of Ethereum, the leading smart contract platform.

    Davis tells his 419,000 YouTube followers in a new video that Binance Smart Chain (BSC) is one of Ethereum’s top competitors because it is backed by global crypto exchange Binance.

    “There is a lot going on on the Binance Smart Chain. Right now, the Binance Smart Chain has $17.4 billion in total value locked up. You can also see that there has been a significant increase in the number of applications on the Binance Smart Chain, with the largest being Pancakeswap, which has $5.83 billion in total value locked…

    It has a user base. It has the total value locked in. Its daily transaction volume is exploding. It’s very simple to use. It’s no surprise that so many people have switched to BSC, given the integrations with the Binance main exchange as well as the overall good user experience with low fees and fast transactions.”

    Terra, a decentralized finance payment network, is next on Davis’ list (LUNA).Terra’s tokenomics, according to the crypto influencer, may be beneficial to the long-term value of LUNA.

    “They have some very interesting price mechanisms with their UST stablecoin, which burns the LUNA coin, driving up the price. Columbus-5 will also receive a significant upgrade. We also have integration with Cosmos [ATOM] IBC, which allows Terra to be more cross-chain compatible.”

    The Terra Columbus-5 upgrade is expected to take place in the coming weeks, and it aims to introduce a slew of projects that will make use of the UST stablecoin.

    Solana, an Ethereum competitor, is third on the list of traders (SOL). Solana’s value, according to Davis, is skyrocketing as a result of its expanding ecosystem.

    “We have a lot of new applications coming to Solana, so there is a lot of stuff in the pipeline ready to enter this ecosystem.” We are constantly launching new products. I believe we are seeing an increase in adoption for this. We also have NFTs [non-fungible tokens], which are gaining traction on Solana.”

    Avalanche (AVAX), the fourth crypto asset on Davis’ list, is billed as the “Internet of Finance.” According to Davis, AVAX could be interesting because it appears to be a laggard altcoin in the smart contracts space.

    “We are seeing an increase in the number of projects that are being released. We recently had Benqi, which launched a few days ago. They’re currently running a liquidity mining program, so if you’re looking for, if you feel like you missed some of the bigger pumps with the other ecosystems, maybe Avalanche is a more interesting one to look at because it hasn’t seen the same level of price pump, and I say that after the coin is up like 80-90 percent or something this week. But, having said that, the ecosystem hasn’t really taken off in a big way yet.”

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