Fresh institutional and retail investor inflows into the cryptocurrency market have led to bull market conditions for many top tokens from blue-chips like Bitcoin (BTC) and Ether (ETH) to more recently established DeFi projects like AAVE and Synthetix (SNX).
Exchange tokens are another easily overlooked sub-sector of the market but they have been performing exceptionally well in 2021 as increases in trading volumes results in a larger pool of fees to collect when the exchange’s native token is used for settlement. Native exchange tokens are also typically used as the base pair for funding new listings and token buybacks.
Here are three of the top-performing exchange tokens in 2021 that continue to see upside potential as new investors flood into the market.
Similar to the experience of CryptoKitty users in 2017, the decentralized finance community has discovered that the main drawback of increased usage of the Ethereum network is high gas fees and long transaction times.
As a result,
The post Exchange tokens benefit as centralized exchanges battle with DeFi platforms appeared first on Daily Truth Report • DailyTruthReport.com.
This content is courtesy of, and owned and copyrighted by, https://dailytruthreport.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.