Despite a recent 40% decline, exchange tokens are still up about 200% in 2019

Quick Take

  • Even though there has been a 43% decline in the last four months, the market cap of exchange tokens has still grown by 255% since the beginning of the year
  • Binance’s BNB is the largest exchange token by far, with a market cap of $2.7 billion – nearly three times larger than the trailing LEO
  • There appears to be a clear correlation between the market cap of exchange tokens and trading volume
  • Exchange tokens seem to be effective at providing exposure to the growth of volume on the underlying exchange
Even though there has been a 43% decline in the last four months, the market cap of exchange tokens has still grown by 255% since the beginning of the year. Exchange tokens appear to be effective at providing exposure to the growth of volume on the underlying exchange. Virtually all Asian exchanges have issued their […]

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