With Bitcoin breaking through the $70,000 barrier, the global cryptocurrency asset market has entered a new frenzy. Following the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC), major investment institutions have rushed into this emerging field, propelling rapid market development. Currently, as the market gradually enters a bull phase, both retail and institutional interest in crypto assets is intensifying. As of the end of March, the total market cap of crypto assets has exceeded $2.77 trillion, marking a 123.66% increase from the previous year.
In this bull market context, competition among top centralized exchange (CEX) tokens is becoming fierce, and determining which CEX token holds long-term value has undoubtedly become a focus for crypto holders. This article will explore this topic in depth and analyze the unique value and potential of various CEX tokens.
Second-Tier CEX Tokens Emerge, Leading Market Gains
Amid the recent surge in the cryptocurrency market, CEX tokens have garnered considerable interest as critical components of the digital asset landscape. These tokens are not merely the economic pillars of their respective trading platforms; they are also emblematic of the ongoing innovation and advancement within the realm of blockchain technology.
In the current crypto-assets market, the price trends of CEX tokens have become a focal point for crypto holders. Compared to other types of tokens, such as Memecoins, CEX tokens carry relatively lower risk, have higher stability, and their appreciation potential is more visible. The price of CEX tokens is mainly influenced by the operational conditions of the trading platforms, thus, choosing platforms with strong capabilities and promising future prospects is crucial.
As the market enters the early stages of a bull run, the Top CEX Token Price Change data table shows that most have emerged from the previous bear market’s shadow. Among top exchanges, BNB with a 92.13% increase and OKB with a 33.34% increase are particularly notable. Despite facing many regulatory challenges over the past year, Binance has maintained its leading position in the industry, demonstrating significant market influence. Meanwhile, OKX has captured a share of the new market through its popular OKX Jumpstart program, significantly benefiting its native utility token OKB.
In this period of market recovery, various CEX tokens have exhibited positive growth trends. Over the past 12 months, certain second-tier CEX tokens have surpassed the performance of those from the leading exchanges. For instance, Bitget’s platform token, BGB, recently broke through the $1 mark, with an annual increase of 189.89%. This significant growth is closely linked to its proactive strategy in listing new assets in the spot market, which has rewarded many early users.
Similarly noteworthy, BMX has demonstrated a robust growth trajectory over the past year with an annual increase of 299.23%, securing the top position on the Top CEX Token Price Change data table. As a rapidly developing exchange, BitMart has gained widespread market recognition by providing a high-performance trading system and delivering a product that closely aligns with user needs. Furthermore, it is reported that over 800,000 users now hold BMX, which demonstrates the market’s recognition and trust in the BitMart trading platform.
As the cryptocurrency market matures and Web3 users deepen their understanding of crypto assets, the ability of various CEX tokens to create added-value will become even more substantial. It is foreseeable that the aforementioned exchanges with growth potential will continue to strive to provide higher quality products to users, thereby driving the continual enhancement of their CEX tokens’ value. Therefore, for crypto holders of all types, choosing CEX tokens from exchanges with growth potential, such as BitMart and Bitget, represents a more forward-looking and valuable investment choice.
Exploring CEX Tokens to Long-Term HODL
When choosing CEX tokens for investment, crypto holders often focus not only on their future appreciation potential but also on the long-term additional benefits they can offer to holders.
From the data table above, as a representative of Tier 2 exchanges, Bitget has a clear development path and is showing exciting prospects. Particularly, Bitget’s Web3 Wallet, Bitget Wallet, holds a significant share in the Web3 wallet market, forming a strong competition with Binance’s newly launched Web3 wallet at the end of 2023. Additionally, the recent airdrop of Bitget Wallet’s official ecosystem token BWB has further enriched BGB’s added value.
On the other hand, according to BitMart’s official roadmap, starting in 2024, the BMX ecosystem will enter a new phase of development. At that time, BMX will play a more central role in the ecosystem’s wallet, DEX, and other infrastructure, serving both as a value asset and a utility token. This means that as the ecosystem continues to evolve and develop, BMX’s use cases will become increasingly diversified.
Currently, BMX holders already enjoy a range of substantial benefits. For example, they can upgrade to higher-level accounts, thereby obtaining more favorable transaction fee rates. Furthermore, using BMX to pay for transaction fees also provides a 25% discount, offering real benefits to crypto holders.
Moreover, according to CryptoRank, the past year’s average ROI for participating in BitMart Launchpad has been an impressive 33.7%, a standout performance in the industry. This means that BMX holders not only enjoy the benefits of upgraded trading experiences but also earn significant returns through participation in platform activities.
Conclusion
As we enter the early stages of a bull run in the crypto market, we have witnessed the strong emergence of some second-tier CEX tokens. They have not only attracted the market’s attention with significant price increases but also provided crypto holders with future ecological empowerment expectations through continuous innovation and enriched added value.
In this market full of opportunities and challenges, crypto holders need to be more cautious in selecting crypto projects or assets. CEX tokens, serving as a bridge between trading platforms and users, require crypto holders to consider the underlying trading platform’s strength, development prospects, and added value provided to holders as important factors.
However,the crypto market always involves risks, and holders should thoroughly understand relevant information and carefully assess their risk tolerance and financial capabilities before making any decisions.