October 11, 2019, 4:21AM EDT
• 3 min read

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

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