Which other exchange token can follow BNB pattern?

[Wakanda]

Today in the world of crypto, BNB has become a household name. As of May 31 2023, the token is the 4th largest cryptocurrency just behind BTC, ETH and USDT. Though it was recently flipped by XRP which now occupy the 4th position in terms of market capitalization after their partial victory against SEC.

Since 2017 till date, BNB has witnessed incredible milestone and it's obviously one of the tokens investors are constantly looking out to invest in but of course, it didn't just started this big. Perhaps many people don't know the token was launched for as low as 0.1 USDT back in July 2017.

FTT the native token of FTX was another exchange token many was looking at until the sudden collapse of the exchange in November 2022. Exchange tokens popularity are currently on the rise because of some certain advantages they poses in using a particular exchange which include but not limited to the following; early access to IEOs, staking rewards, discount on transaction fees, free withdrawal e.t.c

Some exchanges like Bitget, MEXC and OKX with native token BGB, MX and OKB respectively are looking really promising but which one can actually replicate the form of BNB is the question.

[BashJasper]

Looking at your analysis here, you seem to believe in the potentials of exchange native tokens. Tbh ya I did invest in FTT before it crumbled and that was a bitter pill to take. I had bought when it was $40+ in mid-2021 though I pulled out before the saga. I also bought some BNB very early at $100 and made some huge ROI before selling at $670. 

I did track the price action of BGB early this year and saw the massive movement. Whatever is responsible, I guess with efficient DYOR and DCA, exchange tokens could be another ecosystem to consider for the upcoming altcoin season

[Emon]

1 hour ago, Wakanda said:

Today in the world of crypto, BNB has become a household name. As of May 31 2023, the token is the 4th largest cryptocurrency just behind BTC, ETH and USDT. Though it was recently flipped by XRP which now occupy the 4th position in terms of market capitalization after their partial victory against SEC.

Since 2017 till date, BNB has witnessed incredible milestone and it's obviously one of the tokens investors are constantly looking out to invest in but of course, it didn't just started this big. Perhaps many people don't know the token was launched for as low as 0.1 USDT back in July 2017.

FTT the native token of FTX was another exchange token many was looking at until the sudden collapse of the exchange in November 2022. Exchange tokens popularity are currently on the rise because of some certain advantages they poses in using a particular exchange which include but not limited to the following; early access to IEOs, staking rewards, discount on transaction fees, free withdrawal e.t.c

Some exchanges like Bitget, MEXC and OKX with native token BGB, MX and OKB respectively are looking really promising but which one can actually replicate the form of BNB is the question.

BNB has lost the pace because of SEC & Binance's restrictions on several regions! FTT's incident was just a black swan event. But I'm super interested in BGB following Bitget's recent growth. To avoid FOMO, I'm DCAing that gem ya.

[Emon]

1 hour ago, BashJasper said:

Looking at your analysis here, you seem to believe in the potentials of exchange native tokens. Tbh ya I did invest in FTT before it crumbled and that was a bitter pill to take. I had bought when it was $40+ in mid-2021 though I pulled out before the saga. I also bought some BNB very early at $100 and made some huge ROI before selling at $670. 

I did track the price action of BGB early this year and saw the massive movement. Whatever is responsible, I guess with efficient DYOR and DCA, exchange tokens could be another ecosystem to consider for the upcoming altcoin season

Well said mate, sorry about FTT's scenario. Every investment has the probability of risk & that's how it is. But, crypto won't stop because of these little incidences. That's why I'm accumulating BGB because I've missed the whole BNB run!

[MetaverseLawyer]

1 hour ago, Wakanda said:

Today in the world of crypto, BNB has become a household name. As of May 31 2023, the token is the 4th largest cryptocurrency just behind BTC, ETH and USDT. Though it was recently flipped by XRP which now occupy the 4th position in terms of market capitalization after their partial victory against SEC.

Since 2017 till date, BNB has witnessed incredible milestone and it's obviously one of the tokens investors are constantly looking out to invest in but of course, it didn't just started this big. Perhaps many people don't know the token was launched for as low as 0.1 USDT back in July 2017.

FTT the native token of FTX was another exchange token many was looking at until the sudden collapse of the exchange in November 2022. Exchange tokens popularity are currently on the rise because of some certain advantages they poses in using a particular exchange which include but not limited to the following; early access to IEOs, staking rewards, discount on transaction fees, free withdrawal e.t.c

Some exchanges like Bitget, MEXC and OKX with native token BGB, MX and OKB respectively are looking really promising but which one can actually replicate the form of BNB is the question.

Well, your analysis is quite fair, CEX tokens are currently on the rise. As per the question of another token that might follow the trajectory of BnB, I think $BGB, Bitget's native token fits the bill. The token is replete with ever green usecases that'll aid the growth of the token commensurately.

[Incarts]

1 hour ago, Wakanda said:

Today in the world of crypto, BNB has become a household name. As of May 31 2023, the token is the 4th largest cryptocurrency just behind BTC, ETH and USDT. Though it was recently flipped by XRP which now occupy the 4th position in terms of market capitalization after their partial victory against SEC.

Since 2017 till date, BNB has witnessed incredible milestone and it's obviously one of the tokens investors are constantly looking out to invest in but of course, it didn't just started this big. Perhaps many people don't know the token was launched for as low as 0.1 USDT back in July 2017.

FTT the native token of FTX was another exchange token many was looking at until the sudden collapse of the exchange in November 2022. Exchange tokens popularity are currently on the rise because of some certain advantages they poses in using a particular exchange which include but not limited to the following; early access to IEOs, staking rewards, discount on transaction fees, free withdrawal e.t.c

Some exchanges like Bitget, MEXC and OKX with native token BGB, MX and OKB respectively are looking really promising but which one can actually replicate the form of BNB is the question.

 

1 hour ago, Wakanda said:

Today in the world of crypto, BNB has become a household name. As of May 31 2023, the token is the 4th largest cryptocurrency just behind BTC, ETH and USDT. Though it was recently flipped by XRP which now occupy the 4th position in terms of market capitalization after their partial victory against SEC.

Since 2017 till date, BNB has witnessed incredible milestone and it's obviously one of the tokens investors are constantly looking out to invest in but of course, it didn't just started this big. Perhaps many people don't know the token was launched for as low as 0.1 USDT back in July 2017.

FTT the native token of FTX was another exchange token many was looking at until the sudden collapse of the exchange in November 2022. Exchange tokens popularity are currently on the rise because of some certain advantages they poses in using a particular exchange which include but not limited to the following; early access to IEOs, staking rewards, discount on transaction fees, free withdrawal e.t.c

Some exchanges like Bitget, MEXC and OKX with native token BGB, MX and OKB respectively are looking really promising but which one can actually replicate the form of BNB is the question.

Exchange native tokens are not really my interest. As we've seen with exchanges that crashed, holders are always the first to feel the brunt.

[Wakanda]

4 hours ago, Incarts said:

 

Exchange native tokens are not really my interest. As we've seen with exchanges that crashed, holders are always the first to feel the brunt.

You have a valid point. This is where DYOR comes to play just like any other crypto assets one may be interested in. It's very important to note that centralized exchanges are where 70% of new users begins their journey from and knowing the exchange that appeal to users is a clear way to know the extent a token will go. That's not also a sure bet because FTX has a very large userbase before the crash but we have to move on.. There are quite a number of CEX doing well just like I mentioned but it's left for you to DYOR.

[Bash4j]

Wow, good to know. CZ active lifestyle brought Binance and BNB where they are today. I guest @Gracy Chen leadership style is also impacting positively on the Bitget exchange's recent growth record. I remember her tweeting "We always believe that if we continue to #BUIDL, $BGB's price will reflect its true intrinsic value."
And Behold the recent TokenInsight and CoinGecko report shows OKX and $BGB as the best performing CEX token  and 1.9% and 1.8% increase in Q2 market share respectively. I guess this is a testament to the team’s hard work!

[Emon]

19 hours ago, Incarts said:

 

Exchange native tokens are not really my interest. As we've seen with exchanges that crashed, holders are always the first to feel the brunt.

If any black swan happens then, I've nothing to say but... Have you seen how solana or AXIE have collapsed? This is how it works..! In that case, Bitget is doing quite well!

[Emon]

14 hours ago, Wakanda said:

You have a valid point. This is where DYOR comes to play just like any other crypto assets one may be interested in. It's very important to note that centralized exchanges are where 70% of new users begins their journey from and knowing the exchange that appeal to users is a clear way to know the extent a token will go. That's not also a sure bet because FTX has a very large userbase before the crash but we have to move on.. There are quite a number of CEX doing well just like I mentioned but it's left for you to DYOR.

Practically, FTX or LUNA's incident was pure black swan event. But, to prevent that kinda incidents, exchanges are enhancing their security, especially Bitget have added an extra layer of security. Yup, they've launched'Protection Fund'.  

[Megamind]

On 30/07/2023 at 10:42, BashJasper said:

Looking at your analysis here, you seem to believe in the potentials of exchange native tokens. Tbh ya I did invest in FTT before it crumbled and that was a bitter pill to take. I had bought when it was $40+ in mid-2021 though I pulled out before the saga. I also bought some BNB very early at $100 and made some huge ROI before selling at $670. 

I did track the price action of BGB early this year and saw the massive movement. Whatever is responsible, I guess with efficient DYOR and DCA, exchange tokens could be another ecosystem to consider for the upcoming altcoin season

Sorry about your experience. I guess if you had paid attention you would have seen how Vitalik has been warning the crypto community against FTT.

Exchange tokens should be transparent enough for users to see what they're investigating in. I can only vouch for those that have good transparency and have published their proof reserves to the public, like BNB and BGB of Bitget as you've mentioned.