March 26, 2019, 2:21PM EDT
• 4 min read

Examining the exchange tokens gold rush

Quick Take

  • Despite bitcoin plateauing in 2019, exchange tokens are greatly outperforming the market
  • Together, they now have a market cap of nearly $3.6 billion; more than 5% of bitcoin’s market cap
  • While BNB has seen constant growth since the beginning of 2019, other exchange tokens suddenly exploded in the first week of March
  • In terms of market cap and liquidity, BNB is unsurprisingly dominating the other exchange tokens
  • The increase in prices of non-BNB doesn’t seem connected to any event but rather appears mostly speculative

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