Bitcoin News and Finance
Market Cap of Exchange-Issued Tokens Surpasses $43 Billion, Binance’s BNB Token Surges 150% Skip to main content

Market Cap of Exchange-Issued Tokens Surpasses $43 Billion, Binance’s BNB Token Surges 150%

Market Cap of Exchange-Issued Tokens Surpasses $43 Billion, Binance's BNB Token Surges 150%

Buoyed by bitcoin’s recent spike, altcoins including exchange-issued tokens recently made significant gains, while several of these crypto-assets went on to set new all-time highs (ATH). According to Messari data, Binance is leading the pack in this category, after its token went up by more than 150% from $47 on February 1 to an ATH of $148 on February 10. Nevertheless, at the time of writing, the token had retreated and was trading at $123.

Binance's BNB Token Sets New All Time High After a 150% Surge in Price: Market Capitalization of Exchange Issued Tokens Surpasses $43B

Centralized Exchange Tokens Lead the Way

As a result of this surge, the market capitalization of the BNB token stood at just over $19 billion at the time of writing, while the crypto-asset has now moved up to number 6, as shown by Messari.io top asset rankings. Also, BNB’s seven-day change of 116% is one of the highest by a centralized exchange.

Meanwhile, also seeing similar growth action is Asian crypto platform Huobi whose token touched a new ATH of $13.95 on February 10. After starting the month at $6.54, the token was trading at $12.65 press time. As Messari data indicates, the HT token has grown by 170% in the past 30 days and this has resulted in its market capitalization growing to $2.47 billion.

Binance's BNB Token Sets New All Time High After a 150% Surge in Price: Market Capitalization of Exchange Issued Tokens Surpasses $43B

Another Asia based centralized exchange to see its own token grow by more than 100% is FTX, a cryptocurrency derivatives platform. Having commenced trading at $11.16 on February 1, Messari data shows that this exchange’s token went on to set a new ATH of $22.77 on February 10. Yet, at the time of writing, the token was trading at $21.11, which equates to a market capitalization of nearly $2 billion.

Significant 30 Day Growth for Decentralized Exchange Tokens

Meanwhile, the Uniswap token, which has surged by 274% in the past 30 days, is the highest-ranked decentralized exchange asset with a market capitalization of just over $6 billion. While Uniswap’s token did record its ATH of $22.21 on the same day, as the centralized exchange tokens above, its seven-day value change of 2.35% is still much lower than that of BNB. Similarly, sushi, the next best performing decentralized exchange asset, had its own ATH of $16.30 on February 4 as well as a slightly higher seven-day change of 5.64%.

In the meantime, the Messari data shows that the exchange assets had an average growth in value of 70% over a seven day period and over 200% in the past month. At the time of writing, the total market capitalization of the 54 exchange assets stood at $43.67 billion.

What are your thoughts on the recent performances of exchange tokens? You can share your views in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory