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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
Footnotes
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