Coinbase Climbs 7.5%, and BNB Consolidates as the Week Opens; Which Makes the Better Investment?

Published: Thursday, May 25, 2023, 15:39 [IST]

Reporting strong earnings in their Q1 earnings report, Coinbase has been on a mouthwatering tear over the past two weeks. Following a brief consolidation period after its 30% upside, Coinbase stock opened this week strongly, ending the day over 7.5% higher than it opened.

This comes at a time when the S&P 500 has been steadily climbing, showing strength against the fears of inflation and recession. This article will dive into both Coinbase Stock and BNB, the token native to the Binance Smart Chain and used to pay transaction fees on the Binance Exchange, discussing the recent updates of both institutions as well as introducing a new meme project, Caged Beasts.

Coinbase Climbs 7.5%, and BNB Consolidates as the Week Opens; Which Makes the Better Investment?

Why Coinbase is Outperforming the Cryptocurrency Market

Coinbase, listed on the NASDAQ, is undoubtedly one of the largest cryptocurrency companies in the world. However, they do not operate like many of their crypto counterparts, i.e., Binance. With more traditional business operations, many see them as a 'safer' investment into the cryptocurrency market instead of the likes of Binance, Microstrategy, or even mainstream cryptocurrencies themselves.

One example of this is Brian Armstrong's recent move into traditional media advertising. The Coinbase CEO hopes that a Bold TV Advertising Campaign will ultimately boost the overall stock price of Coinbase.

Coinbase's main product, a user-friendly platform to buy and sell major cryptocurrencies, appeals to the 'non-crypto folk' of the world. With a very easy-to-use interface, Coinbase's target market is those looking to get started in the crypto industry rather than those already established in it. A TV marketing campaign goes hand-in-hand with their predominant business model. As crypto continues to grow amongst the many, Coinbase looks set to increase its total users, leading to higher trading volume on its platform and higher revenues.

Binance Exchange and its Inherent Superiority

Coinbase's CEO, Brian Armstrong, is without a doubt a strong leader, boasting strong leadership credentials in both technology and business. However, the truth is that Coinbase, at least at the moment, just cannot hold a candle to Binance.

By far the largest exchange around, Binance's native token alone has a market capitalization of circa $50 billion; this purely pertains to BNB's value, disregarding the value of the Exchange as an infrastructure and its stablecoin, BUSD.

But that is not all, Binance has its own Layer-1 blockchain, the Binance Smart Chain, upon which hundreds of dApps are built, creating its own DeFi ecosystem, meme coin market, and much more.

While it is true that Coinbase is launching its own Ethereum Layer-2 blockchain, it is coming to this party late and will be hard-pressed to compete with the likes of Arbitrum and Matic, both of which already attract huge volumes of liquidity.

Can Caged Beasts Vie for a Listing on Either Exchange?

Caged Beasts, BEASTS, is the newest meme coin with utility to hit the presale scene. Employing a wondrous back story of a human-controlled and centralized global financial system, upon which humans have total control over the world, the so-called 'Caged Beasts' have been created to take back control from humans and bring about a decentralized financial infrastructure for all.

Each stage of the presale will witness the creation of a new caged beast, ensuring both investors and the community will be fully engaged throughout the entirety of the presale.

What this extremely new project has done very well is coincide its launch at a time when the crypto industry is emphasizing the importance of decentralization. This meme coin could really take advantage of this growing narrative following the collapse of FTX.

Currently, all you can do is signup for the Caged Beasts newsletter, but the presale launch is not far away! Make sure to sign up now to be in with the best chance of getting in early. As we have seen recently with other meme coins, such as Pepecoin, there are huge ROIs to be had, and Caged Beasts is no different!

For more information on this startup meme coin, check the links below!