Cryptocurrency exchanges are undoubtedly one of the main pillars of the cryptocurrency industry. They let new users buy crypto directly and bridge the gap between the traditional financial world and this nascent space.
Exchanges are now evolving to further serve users as the free market is forcing them to add new services to woo the competition and ensure they have good positioning in the market.
The first cryptocurrency exchanges to exist were rather simple: some simply connected users looking to conduct peer-to-peer trading, while others offered spot trading pairs for the top cryptoassets: bitcoin, ether, litecoin, and so on.
Over time, however, the cryptocurrency exchange landscape evolved as the market matured. To cement their positions exchanges are now adding new services on a regular basis and innovating with various products. One of the most widely-adopted ones is the exchange token.
Cryptocurrency exchanges like Binance, OKEx, KuCoin, CoinEx, and more have already launched their own token. Token holders received benefits from using the exchange, and these benefits can often come in the form of revenue share.
CryptoDiffer, a project review and trading website, noted that last month OKEx’s OKB token was the top gainer among exchange tokens, as the competition between exchanges intensifies.
Exchange tokens price comparison 1st October to 1st November.
— CryptoDiffer (@CryptoDiffer) November 1, 2019
New Services and Innovations
These tokens are, in a way, a window into the innovations cryptocurrency exchanges are making and into how they are performing in terms of trading volumes, regulatory compliance, future prospects, and more.
Investors price the tokens according to the advantages they get by…