- BNB now serves as quasi-reserve asset for token issuances
- Cryptocurrency exchanges already function as clearing houses, custodians, project incubators, OTC brokers, research firms, venture capital investors, consumer wallet providers, and exchanges
- Now, exchanges are becoming issuers as well
The Sketchy Token Distributions Must Go On
Ethereum exploded in 2017 primarily driven by one catalyst: speculative demand for ether as the reserve asset for the Ethereum capital market (ICOs). As ether was necessary to participate in public token sales, demand for ether went up and as treasury teams of ICOs held ether, more and more circulating supply was removed from the market as demand increased.
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