Binance CEO Says – Bitcoin Feels Like a Stablecoin As It’s Moving Up So Slowly
Bitcoin (BTC), the largest digital currency in the world by market capitalization, has made some significant moves in recent times after breaking above the psychological level of $10,000 and posted a new 2020 high above $12,000 recently. However, currently, the price value of Bitcoin is consolidating below this mark at around $11,706 with a change of -0.80% in 24 hours.
Where Bitcoin is continuously attempting for a breakout through $12k the CEO of the leading cryptocurrency exchange Binance Changpeng Zhao (CZ) says that the top-ranked cryptocurrency is moving up very slowly behaving like it is a stablecoin.
“Bitcoin feels like a stablecoin to me”
In a recent tweet, the CEO of Binance said that the major cryptocurrency is moving upward at a very slow pace. He thinks that due to this slow upward movement of the coin, Bitcoin looks like a stablecoin. Changpeng Zhao said in the tweet:
“I don’t know about you, but #bitcoin feels like a stable coin to me. It’s moving up so slowly. It only moved from $4100 in March to $11800 now. Every time it moved up, I get used to the new price in like 30 seconds, and starts to wish it will go higher…”
Changpeng Zhao (CZ)’s statement shows that he is not satisfied with the current movement of the coin’s price value. He might be wishing to see Bitcoin’s price value flying like a rocket at the moment.
Bitcoin is not the most-valuable asset anymore
Though Bitcoin (BTC) is still the world’s top-ranked digital currency by market capitalization it has lost its title as the most valuable cryptocurrency in the market. The governance token of yEarn.finance’s YFI is now the most valuable asset, not Bitcoin which is quite interesting as it is the first time ever that an altcoin has more value than the major cryptocurrency in the market.
YFI is currently trading at $14,104 at the moment while the price value of Bitcoin is standing at $11,706 at the time of writing. This means YFI is now worth more than Bitcoin.
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