While the crypto market continues its upward momentum, exchange tokens are taking the spotlight.
Exchange tokens, which were among the stars of the recent bull market, have started to attract investors’ attention again. The native token of the world’s largest crypto exchange Binance, BNB Coin (BNB), has experienced a 40% surge in the past week.
The value of the popular crypto exchange OKX’s native token, OKB, also rose by 27% in the last week, and there is also an increased interest in decentralized exchange (DEX) tokens.
Binance-backed Pancakeswap (CAKE) gained momentum with the release of version 4, resulting in a 45% increase in value in the last week. The native token of one of the largest decentralized exchanges, Uniswap (UNI), showed a 120% increase in performance over the course of a month.
The Solana (SOL) based decentralized exchange Jupiter (JUP) saw a 41% increase in the past week. With the completion of the Ethereum London upgrade, there is an anticipated rise in interest in Ethereum-based DEXs.
Experts believe that investors looking to utilize layer 2 (L2) solutions will increase their transactions on Ethereum-based DEXs, which will further boost the surge of exchange tokens.
