Binance Coin (BNB) may seem like the most profitable and successful exchange coin because it has a market cap in excess of $2.5 billion and has a far higher rank on CoinMarketCap than any other exchange coin. However, data from Messari reveals that Binance Coin (BNB) is actually the worst performing exchange coin in terms of year-to-date returns.
In the below chart the year-to-date returns of six different exchange coins are plotted. The white line is Binance Coin (BNB), the yellow line is OKEx’s OKB token, the blue line is Bitfinex’s LEO token, the green line is Huobi Token (HT), the orange line is KuCoin Shares (KCS), and the purple line is FTX Token (FTT).
Chart courtesy of Messari, shows year-to-date returns for various exchange coins
Despite the popularity of Binance, this data shows that Binance Coin (BNB) has been the most unprofitable exchange coin this past year with a 51% loss.
LEO and KuCoin Shares (KCS) did not fare much better with 35% and 43% year-to-date losses respectively.
On the other hand, FTX Token (FTX) and Huobi Token (HT) are in positive territory, with 12% and 19% year-to-date gains respectively.
However, OKEx’s OKB token blows all of the other exchange coins away with a 206% year-to-date gain.
Zooming out, it seems possible that Binance banning United States residents in September of last year may have contributed to the poor performance of Binance Coin (BNB), since United States residents likely dumped Binance Coin (BNB) en masse when they closed their accounts. That being said, it is nearly a year later now and Binance Coin (BNB) is still stagnant.
Thus, when it comes to exchange coins, OKB appears to be by far the most lucrative, although it must be remembered that past profits do not guarantee future returns.