Exchange-based tokens, such as Binance Coin (BNB), Huobi Token (HT), and OKEx Coin (OKB), have taken off during the month of February thanks to increased trading volume and strong decentralized finance (DeFi) integration.
According to a report by Cointelegraph, Binance Coin is benefiting from the surge in trading volume on one of the world’s leading cryptocurrency exchanges. Binance has continued to support the coin’s utility with the launch of Binance Smart Chain (BSC), which has become a strong challenger to Ethereum.
Data compiled from SimilarWeb shows Binance to be the fourth most popular website under the Investing category, with web traffic continuing to rise throughout February.
HT and OKB tokens have likewise benefited from the jump in exchange trading volumes over the last several months. The bullish rally for Bitcoin and other cryptoassets has led to an increase in exchange usage from both buyers and sellers.
Huobi announced the launch of its Eco-Chain Heco mainnet at the end of last December, with the protocol quickly gaining momentum in the month following its launch. The exchange also expanded its offering to clients by partnering Heco with derivatives trading platform Injective, allowing for cross-chain derivatives trading.
OKEx likewise made a splash with the launch of its mainnet on December 31, giving early adopters the opportunity to earn 10 million OKT in token rewards.
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