Data] 5 Major "Platform Tokens" FDV, Capital Storage, Trading Volume Ratios

💠 Comparison of Platform Token Valuations

Although $OKB experienced a strong rally, its valuation seems to still be undervalued compared to various ratios.

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The three ratios for $BNB and $MNT are relatively high, as these two tokens are not only platform tokens but also foundational currencies in their respective public chain ecosystems.

Even without using $BNB as a benchmark for "Platform Token + Public Chain Token", $OKB may still be long-term undervalued; this recent surge might just be a return to value.

After the development of the Xlayer ecosystem, if it can form the ecological state of Mantle, then $OKB should be able to reach the ratio level of $MNT, and $OKB still has potential for a 1x increase.

So, the next question is whether Xlayer can leverage the influence and traffic of the OKX wallet to achieve the ecological scale and activity level of Mantle?

💠 Comparison of Trading Activity

Setting aside platform tokens, let's observe the ratios of spot, futures, and total trading volume against capital storage over the past 24 hours:

The ranking of spot and futures trading activity is consistent, from high to low: Bitget, Gate, Bybit, OKX, Binance.

This indicates that there are more users hoarding tokens on Binance and OKX, as these individuals tend to store their funds on these platforms with relatively low trading frequency. Additionally, the low ratios for Binance are also related to its excessive storage.

High trading activity on Bitget and Gate suggests that these two platforms may primarily cater to high-frequency trading users. Of course, we cannot rule out the active behavior of market makers.

Bybit is in the middle, with some medium to low-frequency token hoarders and some high-frequency trading users.