THE MONTH OF EXCHANGE TOKENS
IntroductionMarch 2019 has undoubtedly been the month of exchange tokens. Driven by the hype of initial exchange offerings and more interest going into investing in the crypto market again after stable prices for months (in contrast to the constant downfall in the second half of 2018), many exchange tokens saw massive gains. In this article, I compiled a ranking of exchange tokens by their price increases against Bitcoin in March, which you can see below:
The percentage values are the increase of the token price against Bitcoin’s price, comparing the opening price on 2019-03-01 to the closing price on 2019-03-31. The market cap is based on the closing price on 2019-03-31. Data is from coinpaprika, CoinGecko and CoinMarketCap.
Wrap-upAs we can see, the prices of exchange tokens have been increasing throughout the market. The tokens of Eterbase, BitMax, Next.exchange and Kucoin have been the top performers with price increases way over 200% in March 2019. Adding to that, other tokens have seen massive gains as well: The average price increase against Bitcoin of all 34 listed tokens was 102%, with 20 tokens gaining more than 50% against Bitcoin and just eight of the 34 losing value throughout March. Is that kind of growth sustainable? Are these signs of a returning bull market? Only time will tell…