Exchange Tokens Have Outperformed BTC This Year

Few crypto assets have outperformed bitcoin this year, but the handful that have are predominantly exchange tokens. Their success attests to that of the token sale launchpads they have hosted, which have in turn driven demand for exchange tokens. But as IEOs start to wind down, can exchanges sustain the momentum, or will BTC recapture the lead and finish 2019 on a high?

Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain

2019 Was the Year of the Exchange Token

Bitcoin has had a good week, but despite putting a dent in every major crypto asset, thanks to Friday’s paint-melting rocket ride, it’s still got some catching up to do. Within the top 50 cryptocurrencies by market cap, aside from chainlink, which has recorded an 816% gain for the year, the only notable tokens to have bested BTC are huobi token (247%) and binance coin (235%). Just behind BTC (148%) is another exchange token, kucoin shares (138%).

Move outside of the top 50,…