Exchange Tokens are performing better than other Crypto tokens
During the past week, a number of exchange tokens have outperformed the major Crypto assets in the market. As a bit of high and low is seen in the market in the past few weeks, but Exchange tokens are performing quite well the past week.
Performance of market-leading Crypto Assets
The 11th largest crypto token by market capitalization was recently down over 10% for more than 24 hours. Also, Bitcoin and Ethereum, the two largest crypto assets in market value, had a low day, falling about 2% and 1.3%, respectively.
Exchange tokens provide better holders discounts on fees at their respective exchanges. This increases the market value and demand for crypto assets. Investors can earn better profit margins by paying fewer trading fees. It is now an $86.5 billion market, as per CoinGecko.
Hike in Exchange’s Crypto tokens –
In the past week, OKX’s token, OKB has climbed nearly 35%, fueled by positive news that the exchange has registered itself as a licensed digital assets business in The Bahamas.
The crypto token of Platinx Exchange, PTX is also one of the most attention-grabbing Crypto assets with high market value. Platinx Exchange provides better investment opportunities with the lowest trading fees in the market. This is a major reason for this hike.
Binance’s token BNB also found itself slightly outperforming market-leading Crypto assets. While the exchange itself has had some positive headlines over the last week, like its plan to potentially purchase a bank to bolster its licensing regime.
Overview of the market –
There is a constant hike in the Exchange’s crypto assets prices in comparison to other market-leading Crypto tokens. The reason behind this may be taken as a constant upward trend in the Cry[to tokens., also the discounts from the exchanges increases profit margins for the investors.
This hike is even noticed when most of the Crypto asset market is bearish and doesn’t stay up for more than a few days. This can be a trend-setting opportunity for the Exchange related crypto tokens in the trading market.
