As Bitcoin breaks through the $38,000 mark, the crypto market is rapidly emerging from a two-year bear market. Bitcoin's halving is coming, and Bitcoin spot ETFs are expected to be approved, all of which indicate that the crypto industry may be about to usher in an unprecedented bull market. So, how can we better seize this wealth opportunity in the crypto industry?

Currently, the mostmake moneyOne of the areas of focus is trading platforms, and platform coins are one of the most important tracks for crypto assets. During the last bull market, Bitcoin rose from $5,021 to a historical high of $67,000, an increase of about 12,00%.exchangeThe growth of platform coins far exceeds that of Bitcoin.BinanceFor example, its platform coin has increased by about 60 times, while the platform coins of many other trading platforms such as OKB, GT, KCS, etc. have increased by more than 20 times. Therefore, it is a very wise choice to lay out the platform coin track in the early stage of the bull market. This not only has a high degree of certainty and relatively small risks, but also has huge appreciation potential in the future.

So, how to choose a platform coin? Which platform coin has greater room for appreciation? Below we will conduct a comprehensive comparative analysis from the fundamentals of the trading platform, the price trend of the platform coin, the added value of the platform coin, etc. By deeply understanding the fundamental factors such as the operation of each trading platform, market share, and the historical price trend and added value of the platform coin, we can better evaluate the appreciation space and potential of each platform coin. At the same time, we can also pay attention to some new platforms and platform coins that are innovative and have development potential. In the end, through comprehensive analysis and comprehensive consideration, we can choose the platform coin with greater appreciation space and potential for investment.

headexchangeWeakened, second-tier platforms grew significantly

As the saying goes, it is good to lean on a big tree for shade.cryptocurrencyThe same applies to the field. The value of platform coins is largely determined by the fundamentals of the trading platform behind them. During the past two years of bear market, the landscape of crypto platforms has changed a lot.BinanceFor example, at the beginning of 2023, its trading volume and market share once reached 60%, showing a clear leading advantage. However, according to the CEX report recently released by 0xScope, Binance's market share has dropped to 51% and is likely to decline further.

与此同时，一些二线交易所如Bitget、Bybit等却异军突起，迎来了快速的发展。以Bitget为例，2023年初其市场份额占比还仅为2%，而如今已经上升至7.0%，成为2023年扩张最快的交易平台之一，稳居全球前四大交易平台的行列。

By comparison, we can find that the top trading platforms are strong but gradually weakening, while high-speed trading platforms such as Bitget and Bybit have risen against the trend in the bear market through more active listing strategies and high-quality products and services, capturing more value for platform coins. Therefore, for investors, choosing platform coins of trading platforms with growth potential such as Bitget and Bybit will have more investment value.

Performance of major exchange currencies in 2023

The price trend of the exchange token is the most intuitive indicator of its investment potential. It can be clearly seen from the chart below that BNB, as the industry leader, has only achieved an increase of 2% this year, while Kucoin and Huobi have seen significant declines. This conforms to a basic rule: the operating conditions of the platform directly affect the price of the exchange token. Similarly, in the currencies with eye-catching performance, we can also see that this view has been verified. Taking the Bitget platform, which quickly emerged in 2023, as an example, its exchange token BGB has risen by 168% since the beginning of this year, which even exceeds Bitcoin (BTC has risen by 107% since the beginning of the year). BGB has become one of the best performing exchange tokens this year, and it is also one of the few exchange tokens that can surpass Bitcoin in terms of growth.

It is worth noting that the bear market can often test the quality of the currency. Those currencies that can rise against the trend in the bear market often show stronger appreciation potential when the bull market comes. BGB, which is currently in an upward period, has a strong momentum. Once the bull market comes, its upward trend will be multiplied and the momentum will be more sufficient.

The power of compound interest: the added value of exchange tokens

High-quality assets not only need to have the potential to appreciate in value, but also need to be able to generate additional returns.Platform Coins and OtherscryptocurrencyCompared with other platforms, its unique advantage is that it can create additional value for holders. People who hold platform coins can participate in the LaunchPad of major trading platforms, which is the main manifestation of the added value of platform coins. So, which platform coin generates more additional value? We can look at it from the following two aspects.

First, the yield of LaunchPad projects. According to CryptoRank data, the LaunchPad projects of the top exchanges in 2023 performed well after going online, with an average maximum yield of more than 10 times. Taking Bitget as an example, the average historical maximum yield of all its LaunchPad projects is 41.9 times, ranking first; OKX and Bybit followed closely behind, with average historical maximum yields of 35.6 times and 33.3 times respectively.

Secondly, the number of new projects on LaunchPad. Since entering 2023, Bitget's LaunchPad has launched 6 projects, with an average of new projects every 1.5 months. Binance followed closely behind, launching 3 LaunchPads, with an average of new projects every quarter. Other trading platforms are more conservative, with fewer new projects on LaunchPad, so the additional benefits that their platform coins can bring are limited.

Xiaobai Navigation

In summary, Bitget's LaunchPad not only has a higher rate of return, but also provides more new projects, so holding BGB can undoubtedly create more additional value. In addition, people holding BGB can also participate in Bitget's Launchpool, pledge, and receive new project airdrops to gain income. Although these incomes are limited at present, once the bull market comes and the snowball effect appears, it will create huge profit space for holders. Therefore, from the perspective of the added value of the platform currency, Bitget's platform currency BGB has great investment potential and imagination space.

Conclusion

In summary, holding platform coins in a bull market can bring higher returns and additional profit opportunities. Recently, the platform coins of some fast-growing second-tier platforms such as Bitget and Bybit are worth paying attention to. Compared with the top platform coins, the platform coins of these second-tier platforms have greater room for imagination.Take Bitget as an example, its market share is 7%, about 1/7 of Binance (51%), while the market value of BGB is only 600 million US dollars, about 1/70 of the market value of BNB (38 billion US dollars). From this point of view, BGB still has at least 10 times of growth potential, and its price is underestimated.

Therefore, when choosing platform coins, investors should pay attention to the platform fundamentals behind them, as well as the historical price trends and added value of the platform coins, and make comprehensive considerations and comprehensive assessments to obtain greater returns at a lower cost.

The article comes from the Internet:Detailed explanation of the investment potential of exchange coins. Which exchange coin is more worth hodling?

Related recommendations: Let ChatGPT andcryptocurrencyTransactional Integration: Exploring Anoma’s Intent-Driven Transaction Architecture

Anoma's vision is bold, and if it succeeds, Anoma will change the world. Written by: Winter Soldier Translated by: Xiaobai Navigation coderworld What if you could combine ChatGPT with cryptocurrency? What if we could execute transactions with a simple text prompt? How would this change our behavior...