Market Analysis

Almost All Centralized Exchanges Hits All Time New Highs.

Utility tokens for centralized exchanges along with FTX, Binance, Huobi, and OKEx, hit all-time highs earlier on Wednesday, shortly after a number of them set price records earlier this month.

At the reporting time, FTX’s FTT, Binance’s BNB, and Huobi’s HT have seen the foremost significant growth since the starting of the year, up about 249%, 238%, and 161%, respectively, consistent with Messari.

As reported earlier, crypto exchange tokens are logging impressive returns as more traders, especially new retail traders from the equity market, are using these exchanges to take a position in cryptocurrencies.

“FTX has set all-time highs in volume, traffic, and revenue earlier this month, and outgrown most of the other exchanges also,” revealed Sam Bankman-Fried, CEO of FTX.

As per vice chairman of Huobi Global Markets, Ciara Sun, HT’s price surge on Wednesday is partly driven by bitcoin’s new record high price earlier in the week.

“HT is the native token that reflects the community perception of our ability to grow our influence within the blockchain realm,” Sun added. “When we do well and the industry is doing well, it gets reflected by its price.”

In line with recent data by Skew, Binance, OKEx, Huobi, and FTX is among the highest exchanges with a number of the foremost bitcoin [BTC, -3.48%] futures open interest.

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