Hello everyone, I'm here again to share some good news on the cryptocurrency market that perhaps many of us may not have paid attention to. If we check overall, I can say that February was a great month for bitcoin and its other alternative coins, as many institutional investors are now discovering the potential of various cryptocurrencies. Exchange-traded tokens also performed very well in this bullish growth with their leader as the BNB coin, followed by HT and OKB. Increased trading volumes, innovative projects, and integration with DeFi have helped these exchange-traded tokens soar in value in 2021. Now let's look at them one by one.
BNB Coin
The binance coin is currently the largest cryptocurrency exchange token. The coin now has a market capitalization of about $ 39.5 billion and is currently considered the third cryptocurrency by market capitalization. In the current bullish move, trading activity has increased dramatically, and the binance platform has also benefited from this. This clearly shows the sign of a good business when it adapts to changing conditions. When the DeFi boom hit, binance quickly stepped in and also supported many DeFi projects, the most recent of which, which I wrote about HERE, was that they gave $ 2.4 million to Plasm Network, a Polkadot-based smart contract platform.
Another factor that led to the success of the BNB coin is the introduction of the binance smart chain, which occurred around December 2019. The binance smart chain has so far been a possible replacement for the Ethereum network, which faces problems with high transaction fees. The popularity of binance's smart network grew just a few years after its launch, and now, according to Defistation, the total value of the blocked network has grown by more than $ 10 billion. The binance ecosystem has also reduced the transaction cost from 15 Gwei to 10 Gwei, attracting more customers to its ecosystem.
We can see that BNB coin investors have recently made a large return on their investments, and I can say that if the binance ecosystem continues its hard work in this way, the coin may still grow higher than we might expect in the future. But for now, I think the coin can take a corrective step, as always expected, after each bullish move, and for those who may still want to invest, I suggest they wait for the coin to regain strength, for the next bullish move.
The Huobi token.
The Huobi token has also benefited the global Huobi trading platform during the cryptocurrency's current run, and its market capitalization has also increased by more than $ 3.5 billion. During the strong bullish phase, Huobi global traders use leverage and borrow money to trade, and this was the motivating factor that the platform provided to its traders. Huobi's launch of cryptocurrency loans around January 5 this year at a discount of up to 50%, which expired on February 3, could also have been a factor in encouraging users to switch to the platform and promote token adoption. There are also some possible factors that could be the reason for the sharp rise in the value of the Huobi token during this period, and some sources also believe that this was due to the platform launching its own blockchain called Huobi Ecochain.Around December of last year, and further collaborated with Kava Labs to expand its users ' access to the Kava ecosystem.
At the moment, the Huobi token is trading around $ 22, which is about 83% over the last seven days and about 180% increase over the last four weeks. Huobi is a very good developing ecosystem, and I believe that if their hard work continues, their token can one day grow like the binance coin token.
Okex token .
The Okex platform actually experienced difficulties at the end of last year, and this affected their users, especially when they suspended withdrawals for this time. But since then, the platform's management, I must say, has done a lot of hard work to get back on its feet, and their tokens have also risen sharply this year. The exchange also launched the OKExChain network on December 31 last year, offering early adopters to earn about 10 million OKT tokens as a reward.
At the moment, the OKT token is trading at $ 15 apiece and has an increase of about 77% in the last seven days and about 166% in fourteen days. Given these signs and the ongoing development of OKExChain, I think this token could also cross at least $ 30 before the middle or end of the year.
Apart from these, which I just mentioned, there are many other cryptocurrency exchange tokens with great potential, and I must say that the progress of these exchange tokens is always based mainly on the hard work of the exchange. Please don't just take my article into account, do some more research and, if you're comfortable, try to still keep the ones you have, or better add them to your portfolio before they turn into another new BNB.
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