The crypto exchange Binance has come under pressure in the last couple of weeks since the SEC lawsuit against them was announced.
This, of course, has caused its native token, BNB to take a hit, too as it has lost most of the gains it had built up in 2023 up until the announcement.
The price of BNB briefly bounced back on Monday after it was announced that Binance has canceled its registration with the Financial Conduct Authority (FCA) which effectively means it has pulled its operation from the UK.
Now it is important to note Binance have stressed they have only pulled their permissions from the UK market, which they had not even used up until now and were unrelated to the crypto market.
Either way, we don’t think it is exactly a great time to be getting involved with anything to do with the Underfire platform. Let’s take a deeper look into why you should be looking past BNB at the moment.
Brief Respite for Binance Coin Seems to Already Have Ended
If we look at the below graph, we can see the 30-day performance chart for BNB. As you can see, its brief recovery after the FCA news has already ended. What is interesting about this is Binance may have self-sabotaged here.
After news initially broke that Binance was canceling its registration, the BNB price started to recover. However, Binance contacted various crypto news outlets to correct their story and confirm it was just canceling unused permissions that were unrelated to crypto; since then, the price of BNB has fallen again.
Either way, it doesn’t really matter, there is no way anyone should be looking at BNB as a legitimate investment opportunity in the near future. There is still so much uncertainty surrounding the SEC lawsuit, so in the meantime, investors are much better off focusing on low-cap cryptos that won’t be affected as much by any Binance revelations.
We have selected a few BNB alternatives to consider, given current market conditions.
Wall Street Memes – The Hottest Presale Right Now
A good place to look for future prospects is the best crypto presales. If you are looking there, look no further than Wall Street Memes ($WSM). The meme coin is currently the hottest-selling token going through presale as it is already closing in on $9 million raised despite being less than a month old.
It is the ready-built community following that is likely driving this initial surge and that will likely continue through the presale to the listings.
For those unfamiliar with the brand, Wall Street Memes has over 1 million followers across their various social media accounts and are a hub for crypto lovers online.
We will be very interested to see how things progress with this meme coin, as it has real potential.
Ecoterra – Get on the Green Train Before You miss it
The crypto market has an image problem when it comes to green practices and that is going to have to change soon. With impending regulation incoming for the market that day is likely sooner so getting involved in green crypto now could turn out to be very profitable.
Ecotterra (ECOTERRA) has to be the number one choice in this case thanks to its rigorous green plan.
By using a combination of reverse vending machines in partner supermarkets and the app, Ecoterra investors will be able to earn native currency when they recycle. Businesses will be particularly interested in this as they can be exchanged for carbon credits.
We think this could spark companies to implement company-wide recycling rules which will be great for the environment and investors.
yPredict – Giving Investors the Edge to Make the Big Bucks
For a long time now, AI has been leaving a significant mark on the crypto world, and while it is mostly possible, it has kind of squeezed out the everyday trader. yPredict (YPRED) is here to save them, though. With their platform, they can have access to all the best trading data out there.
Just by purchasing YPRED, they will have access to the data that the top 1% of AI developers have managed to gather from the market. A subscription fee will then give them access to the exact trading strategy each developer comes up with.
Over 20,000 people have already signed up for the yPredict waiting list, so it is certainly one to watch in 2023.
DeeLance – A Use For Web 3.0 To Change the Gig Economy
The gig economy has exploded in recent years as more and more workers turn to freelancing. DeeLance (DLANCE), however has noticed that the sites that connect freelancers to employers are no longer fit for purpose.
Their decentralized site, which uses Web 3.0 technology, will aim to remedy this.
A huge number of improvements will be able to be made to the existing models, such as an escrow payment setup and NFT tokens to symbolize ownership. The most enticing factor though, is likely the site will be able to charge lower fees than legacy sites thanks to their peer-to-peer payment system.
The DeeLance presale has started to take off so it is one to watch for sure.
Launchpad XYZ – Best Platform for all Levels of Web 3.0 Experience
We have already discussed projects that use Web 3.0 technology in a way that improves on an existing model but not many projects stop to think about how much their potential investors actually know about the new technology. Not Launchpad XYZ (LPX), though.
This platform is perfect for all levels of Web 3.0 knowledge as Launchpad realizes that not everyone has the time to become an expert on a technology that seems to change every day.
They aim to onboard the next 10 million users onto Web 3.0 and will be your only stop for everything from crash courses to the best investment options.
So to finish up now is not the time to get involved in anything associated with Binance, which rules out any BNB investment.
The five projects discussed above are better options as they have a much higher scope for growth thanks to their low market caps.