BNB & EverGrow will benefit more from Twitter than Dogecoin – analyst

Dogecoin pumped over 150% in price as news broke that Elon Musk took Twitter private.

But will Dogecoin really be the biggest winner if Twitter facilitates crypto payments for Twitter Blue, or paying tips to your favourite accounts? Can a cryptocurrency like Dogecoin which started out as a joke, without a clear roadmap or development team, become an alternative currency to fiat?

One analyst believes it won't.

Here's why BNB and BNB Chain tokens like EverGrow could stand to benefit more than Dogecoin long-term following Twitter's privatisation.

Read more about EverGrow here: https://evergrowegc.com/

Binance fourth-largest investor in Twitter

Binance invested $500 million in Musk's acquisition of Twitter. Binance is of course the world's largest crypto exchange by daily trading volume, and BNB is the native token.

Binance CEO Changpeng Zhao (aka CZ) has already offered Binance Pay as a solution for integrating payments into Twitter.

It would make sense that a leading cryptocurrency, with a robust payment mechanism, the world's largest exchange, and the fourth-largest investment, would have sway over the integration of crypto into Twitter.

Bear in mind that Dogecoin didn't even have a development team until the price pump in 2021. 

Though Elon Musk may have a personal liking of Dogecoin, that doesn't make it the prime candidate for Twitter integration. 

BNB burning could lead to price pumps for BNB and EverGrow

Binance allocates 20% of its profits toward burning or destroying BNB tokens. The mechanism reduces the overall supply of BNB and therefore should increase prices due to scarcity. 

If BNB is indeed included – or its blockchain platform is used to process crypto payments – this would help to pump the price of BNB and any cryptocurrency built on the network.

Take EverGrow as an example.

EverGrow is built on the BNB Chain, and has its own mechanism to burn supply. The base utility is a 14% transaction tax with a portion sent to burn tokens and the rest used to reward holders with BUSD passive income, or to support the ecosystem. 

EverGrow also builds BNB Chain applications (NFT marketplace LunaSky, or Crator social media crypto app) which send 100% of their revenue to burn EGC tokens.

The effect of token burns from BNB and for projects built on the BNB Chain like EverGrow – whose main trading pairs are BNB and whose liquidity is stored in BNB – could see prices skyrocketing. 

While Dogecoin might pump short-term, long-term investors should be thinking seriously about which crypto will win out on the Twitter privatisation. With strategic investments in BNB and BNB Chain tokens like EverGrow, you could be set for healthy returns.

Read more about EverGrow here: https://evergrowegc.com/