As we enter 2024 with a bullish crypto market, exchange tokens seem poised for massive growth.
Exchange tokens tend to benefit greatly in bull runs as trading volume increases on their platforms. With many analysts predicting incredible gains this year, exchange tokens could be one of the biggest winners.
Some options that look undervalued relative to their top competitors include BGB, KCS, and HT. BGB in particular has shown tremendous momentum lately, more than doubling over the past few months and even hitting an ATH of $.79 today . The derivatives exchange behind it has quickly emerged as a top player.
Expanding functionality and use cases on various exchange platforms will likely expand demand for their native tokens.
Which exchange tokens are you most excited about for the 2024 bull run?
Is BNB not included in Binance exchange tokens? or deliberately separated even though they are still parts that cannot be separated. Regarding MX exchange tokens on Mexc, Houbi with HT, BGB, KCC etc. reminds me of FTT where everything about token liquidity is more easily manipulated by the exchange itself. This means that when creating an exchange they also of course want to involve users with the tokens they create, therefore we definitely know that every exchange that has its own token has a swap/convert feature and offers several other benefits to ensure its value.
After that we return to the conversation about which tokens will see the most promising upside in 2024, including Bitcoin near halving. any profits from Bitcoin generated by incumbents who are partial owners of exchanges will add liquidity to their tokens. I think it's definitely just a matter of looking at the trading volume levels on which exchanges are the most popular. For example, Binance along with the halving, BNB has shown some price increases and the same scheme also applies to all other major exchanges such as Mexc, Kucoin, Huobi and Bitget.
Totally forgot ahah, but I have included it. Maybe because BNB hasn't lived up to expectations considering the predictions by analysts. Although the use cases on BNB are top notch, it may appear the SEC case against Binance has slowed BNB's momentum, which led other players like BGB, etc. to start dominating. It'll be exciting to see how major exchange tokens play out in the coming months - one to look out for and hopefully be well positioned for.