Competition of Platform Tokens Among the Five Major Exchanges: Who Will Be the Dark Horse This Round?#
Recently, major exchanges have been very active, starting with OKX's strong surge of $OKB, followed by Bitget designating $BGB as the token for the Morph public chain.
Why are exchanges focusing on platform tokens recently?
On one hand, the loosening of the regulatory environment in the U.S. has prompted platforms to seize the window of opportunity, accelerating the value assignment of platform tokens and paving the way for future development;
On the other hand, under the trend of integration between cryptocurrencies and stocks, exchange platform tokens, as scarce assets with real support in the crypto space, are being repriced by the market.
The following analyzes the core players of the platform tokens from the five major exchanges to help you grasp the overall situation.
1️⃣ Binance's $BNB#
Binance empowered BNB early on, with its application scenarios covering the widest range.
From Launchpad/Launchpool for new projects, to wallet Alpha projects, and to BSC chain gas fees, BNB carries the value flow of multiple business lines within the Binance ecosystem.
This has allowed BNB's market capitalization to exceed $100 billion, firmly ranking among the top three in the blockchain industry.
In the future, Binance will continue to delve into the forefront of on-chain and asset issuance, with BNB serving as a key link to play a core role.
2️⃣ OKX's $OKB#
The OKX exchange and wallet business need to be evaluated separately.
As a foundation, the exchange has long been suppressed by Binance, and the issue of listing tokens is frequently questioned by the community.
However, OKX has taken a different approach by laying out on-chain business in advance, with its Web3 wallet leading the industry and occupying a traffic entry point.
Unfortunately, the public chain ecosystem is weak, far inferior to BSC, leading to insufficient empowerment of $OKB and a lack of wealth effect.
Recently, OKX has strongly surged $OKB, activating the X Layer ecosystem, which has already spawned several popular projects.
In the long run, the strategic position of $OKB is solid, and its potential remains.
3️⃣ Bitget's $BGB#
Bitget continues to integrate its ecosystem: first merging the Bitget Wallet token $BWB into $BGB, and now designating $BGB as the token for the Morph public chain.
Similar to OKX, Bitget's wallet business is strong (acquiring Bitkeep to achieve a leap), but the public chain is a shortcoming.
Previous support for the Morph public chain has faced numerous issues, and now Bitget is personally stepping in to connect the exchange, wallet, and public chain business with $BGB.
Bitget's recent explosive rise of $BGB and the release of positive news make it a strong competitor in the platform token battle.
4️⃣ Bybit's $MNT#
Bybit does not have an official platform token; $MNT is the token supporting its public chain Mantle.
The two have a deep connection: in 2021, Bybit established BitDAO during the DAO craze, injecting hundreds of millions of dollars to build a crypto treasury, with the native token being BIT.
The DAO model avoided compliance risks but led to Bybit's inability to directly integrate its business, weakening its competitiveness.
In 2023, BitDAO transformed into Mantle Network, with BIT exchanged for MNT at a 1:1 ratio.
Currently, the Mantle ecosystem is quiet, and the price of $MNT is sluggish.
Among the leading exchanges, Bybit's platform token is the weakest, but there may be movements in the future, representing a value gap.
5️⃣ Gate's $GT#
There is controversy over whether Gate ranks in the top five (the industry often refers to the "top five" as actually ten), but it has performed strongly in this round, with contract trading volume ranking in the top five.
Compared to OKX and Bitget, its on-chain business (own public chain GateChain and wallet) is not outstanding, but its strength is solid.
The empowerment path of platform tokens is similar: integrating business lines, creating deflation through token burns, and raising token prices to activate the public chain ecosystem.
Except for Binance, the public chain ecosystems of leading exchanges all need improvement:
- OKX is the strongest, currently empowering X Layer;
- Bitget is next, integrating Morph;
- Bybit's Mantle is lukewarm;
- Gate's on-chain business has no remarkable achievements.
In terms of platform token market capitalization, BNB stands alone above $100 billion, while the others are around $5 billion, indicating significant growth potential.
Who will be the first to break through the $10 billion market cap?
Limited-Time Benefit — New Users Register to Receive a Guaranteed 20+ U Bitcoin Blind Box 🎁#
🎁 Register on mainstream exchanges like OKX, Binance, Huobi, Bitget, Bybit, Gate, Backpack, etc., and collect all mainstream exchanges' latest anti-loss domain names on one webpage 👉🏻: https://vlink.cc
🔥 Solving the Issue of Accessing OKX, Binance, Huobi, and Other Exchanges from Mainland China#
The original domain names of exchanges are often restricted or have high latency on overseas servers, leading users to mistakenly judge it as a platform failure, which is actually due to the network environment. OKX, Binance, and others regularly update backup domain names to ensure access.
Can't open the link? Try other mirror lines in the country! 👉🏻 OKX Domestic Backup Domain Line No VPN No Proxy
-
- OKX Backup Domain Overseas OKX - Requires VPN or Backup Link
-
- Binance Backup Domain Binance
-
- Bitget Backup Domain Bitget
-
- Bybit Backup Domain Bybit/Bybitglobal
-
- Huobi HTX Backup Domain Huobi/HTX
-
- Gate Backup Domain Gate.io
🔥 Related Reading#
2025 China's Top Ten Virtual Currency Trading Platforms Latest Ranking is Out 🔥【Worth Collecting】
🔥 Alpha Finds Useful Tools#
1️⃣ Axiom Dog-Charging Tool https://axiom.trade
2️⃣ Gmgn Dog-Charging Tool https://gmgn.ai
3️⃣ dbot Dog-Charging Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Everyone is Searching For#
Platform token purchase, OKB purchase, BNB purchase, buying Bitcoin in mainland China, OKX registration, Binance registration, Bitcoin purchase, Bitcoin crash, loan for stock trading, loan for cryptocurrency trading, stock trading mindset, Bitcoin, President Coin, Tony quotes, crypto expert Tony, Trump Coin, buying Bitcoin in China, cryptocurrency trading exchanges, OKX download registration, domestic OKX recharge, Binance App registration, Binance App download, Binance platform coin purchase tutorial, Binance registration, Binance airdrop registration, Binance iPhone download, how to buy President Coin, how to buy Dogecoin, buying Bitcoin with RMB, how to download OKX, web3 airdrop, web3 zero airdrop, Bitget mainland download registration, OKX passport registration, OKX download, Binance download, cryptocurrency side business, OKX contracts, how to recharge RMB on OKX, how to recharge on OKX, how to create an NFT wallet, how to recharge RMB on Huobi, beginner's tutorial in the crypto space, btc8848.com, Tony's contract trading mindset, contract leverage bit wave, DeFi mining, crypto space airdrop, can airdrops still be played in the crypto space, what to do if a contract is liquidated, how to buy President Coin on OKX and Binance, how to buy Ethereum on OKX and Binance, how to play DeFi staking mining, can NFTs still be played, how to play web3 airdrop, how to hit inscriptions, how to hit runes, crypto beginner's entry, how to trade cryptocurrencies, can trading cryptocurrencies make money, crypto beginner tutorial btc8848.com, can trading cryptocurrencies make money, what is contract leverage, DeFi mining, how to play in the crypto space, OKX airdrop, node staking, liquidation, financial freedom, night investment heiyetouzi.xyz