According to a study by TokenInsight, most exchange tokens have underperformed compared to Bitcoin. Despite the popularity of tokens like Binance Coin (BNB) and Bitget Token (BGB), Bitcoin has shown itself to be a better investment choice. Regulatory pressure has affected some tokens differently.
Collectively, exchange tokens had a market cap of $68 billion in February, accounting for 3.2% of the total crypto market cap, a slight decrease from the end of 2023.
While Bitcoin remains dominant, tokens like BGB and MX Token (MX) have outperformed it, with gains of 434% and 248% respectively. In comparison, Bitcoin rose by over 200% since early 2023. However, tokens like HTX’s HT and OKX’s OKB have seen declines, falling by 75% and 53% respectively since the start of 2023.
