Exchange Tokens

Bitget's fast-growing exchange token — strong derivatives platform, solid utility model, and one of the better growth stories in the exchange token space.

OKX's exchange token — strong utility, top-3 exchange backing, and solid burn mechanics make it one of the better exchange tokens.

Crypto.com's exchange and ecosystem token — broad utility but trust-damaged by reward cuts and overextended marketing.

Hong Kong's first licensed retail crypto exchange — regulatory-first approach with institutional backing, but limited token utility and early-stage trading volumes.

Austrian regulated exchange token — strong compliance and EU positioning but limited global scale.

European crypto wealth app with Swiss heritage — community-focused with tiered BORG utility, regulated approach, but limited scale compared to major exchanges.

Solana-native regulated exchange by Mad Lads team — strong community and regulatory positioning, but small volume competing against CEX giants.

CeFi lending survivor — Nexo weathered the 2022 collapse that killed Celsius and BlockFi, but regulatory challenges and transparency gaps persist.

Gate.io's exchange token — longevity and listing breadth are strengths, but limited transparency and regulatory uncertainty temper enthusiasm.

KuCoin's exchange token with attractive revenue-sharing mechanics, but DOJ legal troubles and compliance failures have materially hurt its standing.

Bitfinex's token with best-in-class buyback-and-burn mechanics, but Tether entanglement and opacity weigh heavily on risk.

Mid-tier derivatives exchange token from ex-Morgan Stanley team — professional pedigree but limited differentiation in a crowded market.

CoinEx exchange token — reliable mid-tier exchange with mining pool heritage, but limited transparency and regulatory positioning.

Indonesia's largest crypto exchange token — real regulatory standing and millions of local users, but heavy geographic concentration risk and limited global relevance.

StarkEx-based perps DEX — self-custodial derivatives with validity proof security, but small volume and competing in a crowded derivatives market.

Aptos orderbook infrastructure — foundational matching engine for Aptos DeFi, technically impressive Move implementation but tied to Aptos ecosystem adoption.

Indonesia's leading crypto exchange backed by Binance — strong regional positioning but limited token utility and heavy Binance dependency.

MEXC's exchange token — lightning-fast token listings attract users, but rock-bottom transparency and regulatory coverage make MX a high-risk hold.

WhiteBIT's exchange token — decent regional presence in Europe but lacks the transparency and scale of major competitors.

Hybrid exchange with CEX speed and DEX settlement — strong technical concept but building exchange liquidity from scratch against Binance/Coinbase is brutally difficult.

Exchange token from a platform that lost $200M in a hot wallet hack — continued operations but serious trust deficit and transparency concerns.

Multi-asset exchange token for BTSE — professional trading features and OTC desk, but modest volumes and limited brand recognition in a crowded market.

Bitrue exchange token — mid-tier exchange with strong XRP ties that suffered a $23M hack, raising questions about security practices and fund safety.

Mid-tier exchange token with standard utility — functional within XT.COM but limited transparency and regulatory uncertainty raise significant concerns.

GameFi platform token on BNB Chain — pivoted from derivatives to gaming, questionable tokenomics history, and the GameFi sector has largely underdelivered.

Mid-tier exchange token with standard utility features — exchange is operational with moderate reach but limited transparency about real volumes and financial health.

Formerly Huobi, now HTX under Justin Sun's shadow — declining volumes, SEC-charged leadership, and abysmal transparency make HT one of the riskiest exchange tokens.

Mid-tier Estonian exchange token — claims large user base but limited transparency about real volumes and financial health. Serves Eastern European/CIS markets.

Binance Cloud white-label exchange with MDX token — functionally a Binance reskin with lower fees, but minimal independent identity and questionable long-term viability.

LBank exchange token — high reported volume but serious transparency concerns and questionable metrics.

Korean exchange token with low-quality listing practices and limited transparency — high risk.

Copy trading-focused exchange with $43M hot wallet exploit in 2024 — aggressive marketing but weak transparency and questionable volume credibility.

Exchange token from an aggressive listing mill — high-volume claims are likely inflated, minimal transparency, and the business model relies on listing fees from projects seeking exchange presence.

Micro-exchange specializing in pre-market token trading — interesting niche but negligible volume and all the risks of a tiny, unregulated exchange.

Exchange token from AscendEX (formerly BitMax) — suffered a $77M hot wallet hack in 2021, continued operations but trust is permanently damaged.

India's largest exchange that froze user funds after a $230M hack amid a Binance ownership dispute — millions of users locked out while companies blame each other.

2017 ICO that raised $18.8M to build a decentralized exchange — pivoted to L2 settlement, never gained traction, and exists as a hollow remnant of the ICO era.

Minor exchange token from P2PB2B — an exchange widely criticized for fake volume, low-quality listings, and minimal transparency. Avoid.

Farming-focused micro-exchange with MLM-style referral tree -- negligible volume, collapsed token value, and a business model that prioritizes recruitment over trading.

Exchange token from a defunct exchange that suspended all operations and withdrawals — almost certainly an exit scam. Token is worthless. Total loss for holders.

DEAD. Hotbit exchange permanently suspended operations in May 2023 — HTB is worthless. Exchange cited frozen assets, law enforcement investigations, and unsustainable costs.

DEAD. Voyager Digital collapsed in July 2022 after 3AC defaulted on $654M in loans. Platform liquidated, VGX worthless. Another CeFi domino in the 2022 crypto contagion.

DEAD. Celsius Network collapsed in 2022 — $4.7B in customer funds lost, founder arrested for fraud. CEL is worthless. One of crypto's worst disasters alongside FTX and Terra.

DEAD. FTX exchange token — Sam Bankman-Fried convicted of $8B+ fraud, exchange bankrupt, token worthless. The biggest fraud in crypto history.