this year has been quite turbulent for some altcoins, especially exchange tokens. I've invested in a few and performance-wise, only a handful of them have shown decent growth throughout the year.
Since we are still in the bearish season, we can understand if exchange tokens can increase their prices as expected. Moreover, after the case of FTX, most crypto coins decrease their values quite significantly, especially the exchange tokens. Even worse, Binance also got a problem, SEC sued Binance due to misappropriation of customer funds. This makes the popularity of exchange tokens be decreasing more and more. So, we can understand if the performance of exchange tokens is getting worse.
Do you have any exchange tokens in your holdings, and what are your thoughts on their market performance this year?
I only hold 2 exchange tokens, BNB and TKO.
I still hold BNB, because it is Binance coin (the number 1 exchange in the world). Sure, BNB looks decreasing much after Binance has an issue with SEC. But I'm sure Binance will fix the problem as soon as possible. Changpeng Zhao should have a solution to deal with the SEC accusation. Moreover, it is about the customer funds, SEC will be difficult to prove the misappropriation.
While for TKO. It is the token of Tokocrypto, our local exchange. I think the price still has the potential to grow because Tokocrypto is developing very well. It becomes the number 1 local exchange in my country after having partnered with Binance. And Tokocrypto always plans some interesting programs, it attract more people to join. On the other hand, TKO also has a good role in Tokocrypto exchange.