Top 3 Centralized Exchange Tokens To Buy Into The Dip

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Cryptocurrency companies have also suffered from the ongoing winter in the digital currency industry. This explains why Coinbase’s share price has fallen more than 84% from its all-time high. Likewise, centralized exchange tokens (CET) have all fallen sharply in recent months. Here are some of the best CET cryptocurrencies to buy.

FTX Token (FTT)

FTX is one of the largest cryptocurrency exchanges in the world. It operates an international brand and a US-focused business. Combined, the two are valued at over $30 billion by private investors. This makes it more valuable than Coinbase, which has a market cap of over $15 billion.

The FTX token is the largest centralized exchange token worldwide with a market cap of over $4 billion. The price of the FTT token is down 64% from its highest level in 2021. As the company expands into stock trading, there is a possibility that the token will bounce back in the near term. This rebound will usually happen when other cryptocurrencies start to recover.

OKB (OKB)

OKX is a large company that provides a platform where people can buy and sell digital currencies. Like FTX, it focuses most on cryptocurrency derivatives, which have grown even larger than spot currencies. According to CoinMarketCap, it processes over $10 billion worth of cryptocurrencies every day. OKX also has features that allow people to buy and sell non-fungible tokens (NFT) and other DeFi platforms.

OKB price has been in a strong bearish trend for the past few months as demand for cryptocurrencies has declined. Likewise, the total volume of derivatives traded in the ecosystem is trending downward. OKB is a good buy because of the company’s overall market share.

KuCoin Token (KCS)

KuCoin is another major cryptocurrency exchange that processes billions of dollars every day. The KCS token has a market cap of over $1.6 billion. Unlike other centralized exchange tokens, KCS has done relatively well in recent days. It is up more than 45% from its lowest level in February.

The most recent catalyst for the KCS award was the large $150 million fund that the developers raised this month. They plan to use the money to expand the ecosystem in areas like DeFi and the metaverse.

Besides these three, the other top centralized exchange tokens are Huobi Token, Swissborg and Gate.

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