Altcoins
Bitcoin Supporter Reveals Why BTC Is Doing 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 jobKruger critically examined the top nineteen 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 analysis of the best altcoins with Ethereum. He highlighted the significant decline in Ethereum prices since 2019. After rebounding to 0.12 ETH per BTC, rates are currently at 0.056 ETH/BTC, showing the decline in Ethereum’s value.
Additionally, Kruger referenced ongoing legal battles between Consensys and the SEC over Ethereum’s status as a security. He also highlighted centralization issues, a major 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 upside value or significant return on investment (ROI). He also criticized USDT for not paying interest despite the current interest rate of 5%.
He also recalled that USDC decoupled from the dollar a few years ago, with a significant drop in assets under management (AUM). Furthermore, Kruger criticized Binance Coin (BNB), calling it a highly centralized exchange coin.
He suggested that a decline in BNB is inevitable as Binance struggles with regulatory issues. Additionally, he noted that the signs look bad as its former CEO, Changpeng Zhao, faces prison time.
Kruger addressed Solana (SOL) as a completely centralized coin factory that experienced periodic shutdowns. Additionally, he compared SOL’s price to BTC, noting that it is down 40% against Bitcoin since 2022, even after its recent rally.
Other Altcoins Still Receive Critical Appraisal From Fred Kruger
Kruger mentioned XRP as a token with no real use, whose value is primarily determined by promoters. He went ahead to label Dogecoin (DOGE) as a joke prone to inflation and lacking in exchangeable features and use cases.
Additionally, maxi Bitcoin rejected Shiba Inu (SHIB) as a poor imitation of the Dogecoin project sharing the same mascot. Even Toncoin (TON) faced heavy criticism from Kruger, who called it a Telegram Coin with limited use, regulatory issues and Russian affiliations.
Kruger noted that Cardano (ADA) is a project promoted by someone who claims Bitcoin won’t make it. He called the ADA a useless doctoral piece that no one uses.
Additionally, Avalanche (AVAX) was among the altcoins he classified as worthless. He noted that AVAX was down 80% from its all-time high reached in November 2021. Additionally, he called Chainlink (LINK) stupid but worth 10 billion. Furthermore, Kruger called Polkadot (DOT) an overpriced parachain system that no one uses.
Additionally, he called Tron (TRX) a scam network by Justin Sun. Meanwhile, he believes Bitcoin Cash is an unnecessary fork of the original Bitcoin blockchain.
Kruger Analysis of NEAR, MATIC, Litecoin and PEPE Reveals Gaps
Going further, Kruger called NEAR a complex and fast userless protocol. Additionally, he noted that Litecoin (LTC) had no use cases and was down 70% from its all-time high.
Additionally, he referred to Polygon (MATIC) as an Ethereum sidechain that has done proper marketing. He Underlines his terrible tokenomics, saying there is no reason to own it since it is down 75% from its peak.
Finally, he called PEPE a frog coin worth six billion dollars. Overall, Kruger was unimpressed with the nineteen altcoins behind Bitcoin for a variety of reasons. He noted that the 19 coins collectively boast a market capitalization of $500 billion, far behind Bitcoin’s $1.3 trillion valuation.
The technical report editorial policy is focused on providing useful, accurate content that provides real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including the latest technological developments, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that every topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards and every article is 100% written by real authors.