Thoughts on exchange tokens?

[crypto-performance]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

[BIT-BENDER]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Yes there are far too many token in crypto-currency, the projects are in-charge of their token, and many give this token a reason or what it does in human activities, cutting across many sectors, this can be words on paper -white paper-. also if you meant are they any regulations, on token and creation of it, not a strong one that's a certain, if there is any at all.

[Oshosondy]

There are not more than 400 to 500 exchanges that are legit, out of them, the better ones will better be followed, if you check coingecko, you will be able to see the lists of exchanges according to their trading volume, the best ones are on the top of the list, you can research if the top exchanges have coins or tokens, like the binance which have BNB, exchanges like huobi also have its own coin and some like that. But exchanges with low trading volume, better not to go for their coins or tokens as it is risky.

[passwordnow]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market?

Yes, there are many of them. You can imagine that most of them really got.

Or is there an obvious market need that such tokens serve?

They do have their own market and it starts from that exchange where they came from. And once that token is noticeable in growth, even it's not on its own exchange, there will be other exchanges that are willing to make its market for them and accept it on their exchange. And for its own exchange, it has a lot of pairs.

[cryptoperkele]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Term "Exchange tokens" covers lots of exchanges that decided to make their tokens for various reasons. So doesn't the quality of the token purely depend on the exchange and why they made it for? For exchange bnb token is used for binance smart chain. It's a little different from many others.

[ScamViruS]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

There are many exchanges in the market of which few exchanges are trustworthy. Now before you invest your money, you must check the future possibilities of that exchange. And that is the hardest job. Because verifying so many things in advance is not an easy task at all. Exchanges that are already performing well in the market should be looked at more closely.

Because it is difficult to guess the purpose of the new exchanges, they may run away with your money. So it would be a bit safer to keep an eye on those who are already known in the crypto community as trustworthy.

[wxa7115]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

The utility of those tokens depends entirely on the kind of investor that you are, if you are a long-term holder and you are interested only in bitcoin then those coins have no utility for you, if you are a swing trader and you trade occasionally then those tokens can be slightly useful, but the greater advantage comes from those that are day traders, and the reason is that some exchanges offer discounts on your fees for using their tokens and any discount that you can get as a trader is something that you should use.

Personally speaking I really think that there are simply too many tokens created by exchanges and that for the most part they do it just because everyone is doing it, and while those tokens by themselves can give good profits as well it is better to not take the risk because if the exchange fails then the coin fails as well.

[Fivestar4everMVP]

Well, personally, in my opinion, I can't really say they are too many of them already, but as we all know, not every of this exchange coins or token are doing well in the market, but a few highly successful ones are really trying their best to get the top coins, take for example, BNB (binance coin) bnb surprised every one with the way it jumped over night to be where it is today.

[Asuspawer09]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Exchange token is doing really great in terms of market value in the market, good examples are BNB, UNISWAP, 1inch, Pancakeswap, and a lot of exchange token and actually bullish at the moment.

The only thing here is don't invest in an exchange token that you don't think the exchange is not really that great, if the exchange is doing great having a lot of good news and updates that is probably a good indication their token could have a higher market value.

There are also some that do burn their token to speed up the token and actually boost the market value of the token, mostly you use that token in the exchange it sells and most of the people hold this token because it has the utility of value, something like you could stake it in the exchange to get something from it.

[dimonstration]

Well, personally, in my opinion, I can't really say they are too many of them already, but as we all know, not every of this exchange coins or token are doing well in the market, but a few highly successful ones are really trying their best to get the top coins, take for example, BNB (binance coin) bnb surprised every one with the way it jumped over night to be where it is today.

Since Binance gained people trust and their platform uses by many BNB became a good investors holding as if being part of the company and cam help in doing transactions in a much cheaper transactions when used in doing a transaction. There are too many exchange coins same with the exchanges but only few is really doing well since their exchange itself didn't get people's attention or interest.

[djgtr]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Popularity and reputation of the exchange site is what really matters most of the time, because the future of that token relies. Example to that is with binance, there's a lot of promising tokens listed nowadays which has brighter future. Utility token might take a huge swing, always keep an eye of what asset you're going to hold before altcoins initiate it's own bullrun.

[FinneysTrueVision]

When Binance first created their BNB token I just saw it as a scam to make CZ rich. I still think that is the case but now they have evolved and have worked very hard to make it a credible competitor to Ethereum and it is one of the top cryptocurrencies by market cap.

Most exchange tokens will not have the same level of development that BNB has had so it is useless to invest in them if you are not a trader at those exchanges.

[J1mb0]

Nearly all exchanges want to issue a token of their own right now, which is understandable once BNB has achieved great success and other exchanges want to follow it as well.
However the number of tokens of the exchanges is so large that the market is in chaos, I think we should only invest in the tokens of the large exchanges.

[goaldigger]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Most of the exchanges have their own utility tokens but not all tokens are worth holding since most of them have no usage in the market aside from being a utility token.

If we’re going to compare those exchanges to BNB, then you’ll probably see that BNB is a different one since its keeps on growing, and making new developments for us. Utility tokens are quiet low in volume compare to other tokens, but if you think its good to hold then go for it because your investment decision is all yours.

[MishaSER]

The cryptocurrency market is very young, of course everyone wants to be the first. It's like in the real world where each country has its own currency, and in the crypto world, each exchange wants to have its own token.

[Twinkledoe]

The cryptocurrency market is very young, of course everyone wants to be the first. It's like in the real world where each country has its own currency, and in the crypto world, each exchange wants to have its own token.

Right now, it seems this is the trend. Each exchange is trying to introduce their own token. And since crypto business is booming and is still growing, expect that there will be more of these exchanges that will create their own token. There are benefits from their end, so it is their advantage to introduce their own. But the value of this token depends on the performance of the exchange itself. Like for example, Binance having their BNB coins. Their value is good because Binance is the top exchange right now. But if you check other exchange tokens, they are not that worth much.

[asriloni]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

I think that if there are not too many exchange site tokens in the market. The exchange tokens already issued based on the exchange site's interest to give more advantage to the its holders.
The ICO and IEO platforms were also need such tokens serve and it's not only that.
The defi market is also need the exchange's token. You can see how BNB mostly being used to earn the passive income from the launch pool.
that's proven exchange site token can be used on several sectors.

[kaseygriffin]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

There are not many exchanges where their tokens can be successful, I just see that these tokens have real value and meaning from the top DEX and Eexchange in this market. The use of these tokens will benefit the user more, which I don't need to say for sure you understand.

[coin-investor]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Some of them are not even worth it, in the past, there are so many token-based exchanges, but only a few succeeded in getting support in the market, they want to imitate Binance coin success but unfortunately, they pair very badly in the market, some of them launched ICO but after getting funds, they just run away, one of this is IRONX exchange after getting millions worth of dollars they run away with investor's money.

[makishart]

During this period the tokens of the exchange appear to be dominant over the tokens of other projects.
The success of BNB coin also makes people look more positive about the tokens of exchanges.

Only some coins were dominating the market just like BNB caused by it already created a very big ecosystem and so many new platforms were using binance coin as the base pair for their token on BSC. that gives so many advantage to the BNB holders especially to get more adoption by the newcomers.
When you are comparing the performance of any exchange token and they will have the same graphic. Only one or two tokens will be dominance in the market.