Exchange Tokens Recover as Investors Pay Attention to Utility
The cryptocurrency ecosystem is gradually recovering, and while there is still some volatility in the market, exchange tokens are on a bullish roll as investors resume trading activities. The market fell by more than $200 billion in a matter of days this week as every digital currency felt the repercussions of the Terra blockchain networks demise. According to CoinMarketCap data, the LUNA coin has lost 99 percent of its value, while the protocols native token, UST, is currently changing hands at $0.1765 instead of $1. The Performance of Exchange Tokens Binance Coin (BNB), the cryptocurrency of the worlds largest trading platform, is up 6.32 percent to $297.72, a major trading level given its recent drop to nearly a 12-month low of $216.32. Despite the widespread sell-offs, the coin remains the fifth-largest digital asset, with the USD Coin (USDC) overtaking it from fourth place. FTT, the FTX Derivatives Exchanges native coin, is currently trading at $31.45, up 3.5 percent in the last 24 hours. KuCoin Token (KCS) is likewise experiencing a stunning price increase, surviving the same onslaught that its contemporaries did. The cryptocurrency is up 11.34 percent to $13.57, representing a 52.53 percent increase from its all-time high (ATH) of $28.80. The regeneration witnessed in these