Despite the massive downturn in the cryptocurrency market, some of the native utility tokens from the top exchanges in the world were able to keep most of the gains they made over the past year.
Exchange tokens outperformed the rest of the market.
Among the top three by market cap Bitcoin went up over 300 percent, Ethereum moved up 250 percent, and Litecoin rose a whopping 400 percent.
Exchange tokens went through a more substantial bullish impulse.
BitMax Token skyrocketed 900 percent while Binance Coin shot up nearly 640 percent, and OKEx's OKB token rose just above 600 percent.
In terms of year-to-date returns, OKB ranks first among all exchange tokens since it was able to keep 322 percent of the gains made.
This utility token is succeeded by BTMX, which holds a YTD return of 244.5 percent and BNB with 232 percent.
According to Jay Hao, the CEO of OKEx, part of the success that OKB has seen over the year is correlated with the effort that his team is putting to launch OKChain into mainnet.
"We are developing a series of use cases with our partners in many fields, such as cybersecurity, finance, lifestyle services and more. Now you can top up your mobile, fuel card, book your hotel stay, or purchase gears for your online games with OKB on tens of platforms. You can even buy OKB with some of the fiat currencies on select platforms now. I can promise you there will be more use cases to come."
To date, OKEx burned nearly 14 million OKB, representing 4.66 percent of its total supply.
OKEx ranks first in terms of YTD returns among all exchange tokens
Published on Dec 13, 2019
by Cryptoslate | Published on Coinage
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