Altcoins
Bitcoin Supporter Reveals Reasons Why BTC Performs Better Than ETH, SOL, XRP, and Other Altcoins
Strong supporter of Bitcoin Fred Kruger shared reasons why investors could benefit from a BTC-only approach. In a recent X sendKruger critically examined the nineteen major cryptocurrencies, highlighting why Bitcoin is the best choice for investors.
The analyst identified perceived flaws in nineteen major altcoins, including Ethereum, Solana, and Cardano, among others.
Kruger began his analyses of the best altcoins with Ethereum. He noted the significant drop in Ethereum prices since 2019. After rising to 0.12 ETH per BTC, rates are currently at 0.056ETH/BTC, showing the declining value of Ethereum.
Additionally, Kruger referenced the ongoing legal battles between Consensys and the SEC over the status of Ethereum as a security. He also highlighted centralization issues, a big challenge for Ethereum users.
Additionally, the analyst referred to stablecoins such as Tether (USDT) and the popular USD Coin (USDC). He believes that USDT has no positive value or significant return on investment (ROI). He also criticized USDT for not paying interest despite the current interest rate of 5%.
Furthermore, he recalled that a few years ago the USDC broke away from the dollar, resulting in a significant decline in assets under management (AUM). Additionally, Kruger criticized Binance Coin (BNB), calling it a highly centralized trading coin.
He suggested that a decline for BNB is inevitable as Binance grapples with regulatory issues. Additionally, she noted that the signs look bad as its former CEO, Changpeng Zhao, faces prison time.
Kruger addressed Solana (SOL) like a fully centralized meme coin factory that suffered periodic shutdowns. Additionally, he compared the price of SOL to BTC, pointing out that it has fallen 40% versus Bitcoin since 2022, despite its recent rally.
Other Altcoins still receive a critical rating from Fred Kruger
Kruger mentioned XRP as a token without actual usage, the value of which is mainly determined by promoters. He went ahead with the labeling Dogecoin (DOGE) as a joke prone to inflation and devoid of redeemable features and use cases.
Furthermore, the Bitcoin juggernaut was rejected Shiba Inu (SHIB) as a poor imitation of the Dogecoin project that shares the same mascot. Toncoin (TON) also faced heavy criticism from Kruger, who labeled it a Telegram coin with limited use, regulatory issues and Russian affiliations.
Kruger noticed Cardan (ADA) it’s a project promoted by someone who claims that Bitcoin won’t make it. He labeled the ADA as a useless PhD coin that no one uses.
Additionally, Avalanche (AVAX) was among the altcoins he classified as worthless. He noted that AVAX is down 80% from its all-time high reached in November 2021. Furthermore, he called Chainlink (LINK) stupid but worth 10 billion. Additionally, Kruger referred to Polkadot (DOT) as an overpriced chain guard system that no one uses.
Furthermore, he labeled Tron (TRX) as a scam network by Justin Sun. Meanwhile, he believes that Bitcoin Cash is a useless fork of the original Bitcoin blockchain.
Kruger’s analysis of NEAR, MATIC, Litecoin and PEPE reveals shortcomings
Going further, Kruger called NEAR a complex and fast protocol without users. Furthermore, he noted that Litecoin (LTC) had no use cases and was down 70% from its all-time high value.
Additionally, he referred to Polygon (MATIC) as an Ethereum sidechain that has done some proper marketing. He highlighted its terrible tokenomics, says there is no reason to own it as it is down 75% from its peak.
Finally, he labeled PEPE as a frog coin worth six billion dollars. Overall, Kruger was not impressed with the nineteen altcoins behind Bitcoin for various reasons. He noted that all 19 coins collectively boast a market capitalization of $500 billion, well below Bitcoin’s $1.3 trillion valuation.
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