Header logo
  1. Research
  2. Crypto Research
  3. Concepts

Exchange Tokens

Jan 24, 2023 • 13 Min Read

What are Exchange Tokens?

Centralized exchanges are centerpieces in the crypto industry and have garnered some of the highest historical valuations in both private and public markets. Despite their core function in the space, we have seen that they can be highly cyclical, and their performance is most often dependent upon price action. Further, the business model and value proposition have been revealed to be quite simple: provide users with access to crypto trading 24/7, 365 days a year, while charging a fee for providing a liquid and secure market for cryptoassets. Leaving aside any anci...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

Keep reading by starting your Free Trial today!

You are reading the last free article.

Already have an account? Sign In

FS Insight footer logo

150 East 52nd St, 3rd Floor New York, NY 10022

OUR WORK

COMPANY

RESOURCES

SUBSCRIBE TO OUR FREE RESEARCH REPORTS

An institutional-grade report delivered to your inbox every week.

© 2025 FS Insight. All rights reserved.

Illustrations by Karl Wimer.