In the crypto world, exchange tokens are one of the asset groups with the potential for stable and long-term profitability. These are not only the tokens of centralized exchanges (CEX) such as Binance, OKX, HTX, but also of decentralized exchanges (DEX) such as Uniswap, dYdX, GMX.
1. What are exchange tokens?
They are the native tokens of a trading platform, used to:
• Reduce trading fees (BNB, OKB, HT)
• Reward for staking/farming/liquidity mining (UNI, DYDX)
• Participate in IEO, Launchpad, Airdrop (BNB, OKB, KCS)
• Governance – Community management (UNI, DYDX, GMX)
2. Classification of exchange tokens
Type of exchange
Example tokens
Outstanding features
CEX (Centralized)
BNB, OKB, HT, KCS
High reputation, large user base, stable growth
DEX (Decentralized)
UNI, DYDX, GMX, CAKE
New trend, closely linked to DeFi, strong governance
3. Top exchange tokens by market capitalization (Updated May 2025)
#
Token
Exchange
Market Cap (Estimated)
Type
1
BNB
Binance
~$87B
CEX
2
OKB
OKX
~$6B
CEX
3
UNI
Uniswap
~$5B
DEX
4
DYDX
dYdX
~$1.8B
DEX
5
KCS
KuCoin
~$1B
CEX
6
GMX
GMX
~$800M
DEX
7
HT
HTX
~$700M
CEX
8
CAKE
PancakeSwap
~$650M
4. Why should you monitor the group of exchange tokens?
• Stability and long-term: Exchanges have large cash flows, consistent profits, and a model similar to stocks.
• Periodic token burn: Reducing supply => Increasing value (like BNB, KCS, OKB)
• Growth potential during bull runs: An increase in users leads to revenue and token price increases
• Long-term investment strategy: The group of exchange tokens is the backbone of crypto infrastructure – "investing in the casino rather than the gambler."
5. Notes when investing in exchange tokens
• Prioritize large, transparent, and highly secure exchanges (Binance, OKX, Uniswap).
• Monitor revenue, trading volume, buyback/burn programs.
• Avoid tokens with legal or liquidity issues.
