Exchange Tokens Picking Momentum As Bull Run Approaches
With the crypto market thriving as we enter 2024, exchange tokens seem well-positioned for significant growth. During bullish periods, these tokens often benefit from surging trading volumes on their respective platforms. Analysts are predicting remarkable gains this year, and exchange tokens like BNB, BGB, KCS, and HT could emerge as major winners.
Some options, notably BGB, appear undervalued compared to their top competitors. BGB has demonstrated impressive momentum, more than doubling over the past few months and reaching an all-time high of $1.15. The derivatives exchange behind it has rapidly become a prominent player.
The expansion of functionality and use cases on various exchange platforms is likely to increase demand for their native tokens.
So, with the potential bull run on the horizon, which exchange tokens are you most excited about? Are you currently holding any of these tokens in your portfolio? I'd be interested to hear your perspective on the promising exchange tokens for the upcoming bullish cycle.
If a crypto exchange does not work hard to improve and add new features, it will not get more users.
And if an exchange does not grow its user base, fewer people will want to buy its native token.
This means the token price will not increase much. It's very likely that Bitget has made some recent development to have made BGB to unlock this new potential.
I came across this post from GC this morning highlighting impressive run of BGB over the last 3 months. Am sure this will give you more insight and help position you properly in case you want to invest in the token
https://twitter.com/GracyBitget/status/1758677066659070052?s=19
I have got BGB. BNB and OKB in my exchange token portfolio. While BNB performance has been good, that of BGB has been very impressive considering that it was under $1 last year and its now a little over $1, also it was hardly affected by the bear season cos it kept hitting new all time high thorugh out the bear season. It seems the uitility and uses case provided by its parent exchange has increased demand for the BGB token.
It's quite impressive to see BGB making such a dramatic price trend & would love to DCA it for more gains should it continue in this trend.