In the past few months, a group of coins have been collectively growing. If you can identify this group, you can start longing the coins which haven’t pumped from that particular group and they will start seeing a similar price action as their peers.
Exchange tokens have acted in the same way. Initially, privacy coins like XMR, ZEC, etc started increasing in price. Then came the era of DeFi coins and we started seeing a surge in most of the DeFi coins like AAVE, SNX, BAL, SUSHI, UNI, etc. This was followed by older coins (Before 2019) like BCH, EOS, NEO, ETC, LTC, etc.
Exchange tokens have been on a good run off late and many of the exchange tokens are at an all time high price. Let us look at some of them.
Binance Coin (BNB)
BNB is the native token of the exchange Binance. It has multiple use cases like staking rewards, launchpads, launchpools, Binance Smart Chain, mining pool, dual savings, etc. BNB saw one of the strongest rally where it grew form $25 all the way to its all time high price of $147(5 days ago). That was a 6X gain in a couple of months. BNB has a market cap of $ 19,236,472,247 and its 24 hour trading volume was