Most exchange tokens are undervalued – research
Exchange tokens lower cost due to the March collapse.
Fundamental factor is an exchange development.
The main winner amid all the hesitation yet remains bitcoin.
International consortium news organizations, developing standards transparency.
Most exchange tokens are undervalued. At least this is the conclusion reached by the TokenInsight analytical agency in the course of a study of exchange assets.
Exchange tokens are cryptocurrency assets issued by exchanges.
The main purpose of such tokens is to reduce commission costs, however, some traders prefer to use exchange tokens as trading or hodling.
One of the leading exchange tokens on market is an Binance Coin (BNB) issued by the Binance crypto exchange. At the time of this writing, it is eighth in terms of capitalization cryptocurrency asset, and the price of BNB / USD is ~ $ 17.
Other exchange tokens, in Tom number Huobi Token (HT), LEO Token (LEO), KuCoin Shares (KCS) are much cheaper and have much smaller market caps.
However, TokenInsight believes that most of these tokens everything equally underestimated. Using various metrics, the agency created a model, which calculated the “fair price” of these exchange tokens.
According to TokenInsight, the cost of BNB, for example, should be around $ 21, as Binance tightened control of the derivatives market and expanded its activities in mainland China..
Also, TokenInsight believes that Huobi Token, which now costs ~ $ 4.43, should cost about $ 6.28 as it “has an unusual access to the central bank of China and government officials “.
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TokenInsight chief analyst Johnson Xu is confident that the gap between the cost and the actual price is the result of recovery after March crash.
Echoes of the past
In March 2020 of the year due to the collapse of the price of bitcoin all market cryptocurrencies were in a fever price hesitation. It is noteworthy that the March collapse did not affect only cryptocurrency, but also the traditional financial sector.
Changes in activity have also greatly affected the volume of exchange trading, with some exchanges benefiting from of this more, than others.
Despite the global economic downturn and volatility bitcoin rate, the cryptocurrency itself has not lost much of the ability to quickly recover from steep peaks.
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