There was a time when investors and newbies went on a crazy spree to invest on exchange tokens like BNB, OKB, BIX, HUOBI TOKEN, Kucoin Shares and Aurora...
Many of them strated pumping from 3-4 days and it was not a small one. I have seen that this happens when BTC moves big. What is your opinion on this..?
Exchange coins are getting more popular among the new investors as well so the prices are really driving crazy. BNB is moving up vigorously which might be the sign that the alts seasons is arriving. The demand for such coins is usually rising because people find benefits in holding such coins which derives the price onto peaks.Many of them strated pumping from 3-4 days and it was not a small one. I have seen that this happens when BTC moves big. What is your opinion on this..?
Exchanges are the backbone of the decentralized markets and that is what makes them more popular because each and every investor/trader would always need a exchange to convert their funds and in this situation they would directly or indirectly use the coin used by that specific exchange(BNB in terms of binance) which would continue driving the price onto next peak.
Decentralized exchanges will take a great amount of the total trading volume eventually, because a LOT of people is sick and tired of all the KYC bullshit, exchanges freezing your funds, banning your account, or questions your incoming transactions for instance.
I'd much rather invest in a DEX coin, which will allow me to take part in the trading fees on the network, and earn DEX fee's passively, as I'll do on the Blocknet network soon (Once I've accumulated 5000 coins for a service node). Pretty much the reason it gained 300% the past month. Everyone wants a piece of the pie, I guess, haha.
On top of that, this project is working on a decentralized oracle network, which you can ALSO profit from by running a service node, win/win
