Boosted by the recent surge in Bitcoin, altcoins, including tokens issued on exchanges, have recently made significant gains, and some of these crypto assets continue to hit record highs (ATH). According to Messari data, Binance’s token rose from $47 on February 1 to $148 in ATH on February 10, an increase of more than 150%. Nevertheless, at the time of writing, the token has been withdrawn. The transaction price is $123.
Centralized trading tokens lead the trend
Due to this surge, at the time of writing, the market value of the BNB token has just exceeded $19 billion, and the crypto asset has now risen to number 6 as shown in the Messari.io top asset rankings. In addition, the 7-day change rate of BNB is 116%, which is one of the highest changes produced by centralized exchanges.
At the same time, the Asian crypto platform Huobi also saw similar growth actions, with its token hitting a new ATH of $13.95 on February 10. After starting this month at $6.54, the token was traded at $12.65 at press time. As Messari’s data shows, the HT token has grown by 170% in the past 30 days, which has increased its market value to $2.47 billion.
Another Asia-based centralized exchange (with its own token growth exceeding 100%) is the cryptocurrency derivatives platform FTX. Since Messari data started trading at 11.16 USD on February 1, the exchange’s tokens continued to set a new ATH of 22.77 USD on February 10. However, at the time of writing, the token is trading at $21.11, which is equivalent to the market value. Nearly 2 billion US dollars.
30 days of significant growth in decentralized exchange tokens
At the same time, the Uniswap token has soared 274% in the past 30 days and is the highest-ranked decentralized exchange asset with a market value of just over $6 billion. Although Uniswap’s token did record its ATH of $22.22 on that day, compared with the above centralized exchange token, its 7-day value change was 2.35%, which is still far below the price of BNB. Similarly, the best-performing decentralized exchange asset sushi had an ATH of $16.30 on February 4, and its 7-day trading price increased slightly by 5.64%.
At the same time, Messari data shows that the average value of exchange assets has increased by 70% over a 7-day period, and has increased by more than 200% in the past month. At the time of writing, the total market value of these 54 exchange assets is $43.67 billion.
What is your opinion on the recent performance of exchange tokens? You can share your opinion in the comments section below.
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