Four crypto assets are eating away at Ethereum’s market share, says crypto trader Lark Davis

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Crypto trader Lark Davis names four assets he says are “eating away” the market capitalization of the leading smart contract platform Ethereum.

In a new video, Davis tells his 419,000 YouTube subscribers that Binance Smart Chain (BSC) is one of Ethereum’s main competitors, as it enjoys the backing of the global crypto exchange Binance.

There’s a lot going on on the Binance Smart Chain. $ 17.4 billion in total value stranded on the Binance Smart Chain at this time. You can also see that there has been a pretty big explosion of apps on the Binance Smart Chain, so the biggest, of course, Pancakeswap with a total value of $ 5.83 billion locked in.

It has the users. The total value is locked. Its daily number of transactions is going crazy. It is quite easy to use. It’s no surprise that you’ve seen so many people turn to BSC given the integrations with Binance’s main exchange as well as a fairly good overall user experience with cheap fees and fast transactions. .

Next on Davis’ list is the Terra Decentralized Financial Payment Network (LUNA). According to the crypto influencer, Terra’s tokenomics could be favorable to LUNA’s long-term value.

They have some very attractive price mechanisms with their UST stablecoin, which burns the LUNA coin, which drives the price up. We also have a major update coming with Columbus-5. We also have an integration with Cosmos [ATOM] IBC, which essentially opens Terra for greater cross-channel compatibility.

The Columbus-5 upgrade for Terra is expected to take place in the next few weeks and aims to introduce a host of projects exploiting the UST stablecoin.

Third on the list of traders is Ethereum’s competitor, Solana (SOL). According to Davis, Solana’s value is skyrocketing in the wake of its growing ecosystem.

We have a lot of new apps coming to Solana, so there’s a lot of stuff in the pipes ready to enter this ecosystem. We have a lot of new launches going on all the time. We have a growing number of adoptions, I think, for that. We also have NFTs [non-fungible tokens], which are really starting to take off on Solana.

The fourth crypto asset on Davis’ list is Avalanche (AVAX), which is billed as “the Internet of finance”. Davis says AVAX could be interesting, as it appears to be a relatively lagging altcoin in the smart contract space.

We are seeing more projects coming out. We just had Benqi, which launched a few days ago. They’re running a cash extraction program right now, so if you’re looking, if you feel like you’ve missed out on some of the bigger pumps with other ecosystems, well maybe Avalanche is more interesting to watch because that it didn’t have the same price pump level, and I’m saying after that the coin has gone up 80-90% or something like that this week. But that being said, the ecosystem has yet to really take off in a very significant way.

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Featured Image: Shutterstock / Tithi Luadthong

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