When I came into this space in January 2017, there were just about 750 of them. I took note of that because it was one of the things I used to gauge the industry then to see how lucrative it could be. I didn't realize it has grown this far already. 2.52 million cryptocurrencies; that's a huge number.
Let's also take BNB as an example. A market capitalisation of $86.74 Billion and ranked as the #4 coin overall. It is developed and owned by a private company, Binance. Their objective primarily is profit for their company.
Take it or leave it, every business exists to enrich itself (through profit making), I ain't taking of the scam ones among them. So, what CZ Binance does with his BNB isn't an abnormality. We can't say Binance, the exchange, hasn't energized this industry through its innovations. It has of course and in some ways created new openings for businesses and projects to flow well.
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Well, we can also say ETH is good too. The major thing dragging its growth back is its throat cutting gas fee.