What is CET Token | Chinese Analyst Has This To Say About Crypto Exchange Tokens

“Platform tokens,” or the native tokens of cryptocurrency exchanges, are the cryptocurrencies that will likely “to the moon” because of their design to be used for paying app fees, an an analyst claims in a Chinese social networking site.

What’s the significance: Analyses help crypto investors to watch out for the next tokens that will have a good performance, which could give them a good amount of PNL. 

• However, it should not be considered investment advice or should be the sole basis of a person’s investing activity.

This article is published in collaboration with CoinEx. 

How to buy $CET? 

• Crypto Exchange: Log in to your favorite crypto exchange (Such as Coinex), whether local, centralized, or decentralized.
  • On your favorite exchange, buy $USDT, at the price of $CET you want to purchase. Make sure also to buy excess tokens for fees. 
• CoinEx Wallet: Download and create an account on https://wallet.coinex.com/en, a non-custodial wallet.
  • Copy the address of the wallet. 
  • From your favorite crypto exchange, send your $USDT to your CoinEx wallet. 
• OneSwap: Go to https://www.oneswap.net/cet, a decentralized exchange, and register an account.
  • Connect your CoinEx wallet. 
  • Swap your $USDT to $CET.

What are platform tokens like $CET?

• What is it? Obviously, the platform tokens that the analyst is saying are utility tokens for cryptocurrency exchanges, both decentralized and centralized.
• Comparison to Traditional Finance: Meanwhile, the analyst defined platform currency as similar to the stock of a brokerage in the traditional financial market, because holding a platform token is like holding the shares of an exchange, the platform empowers the platform currency holders, the holders share the platform dividends, and the platform indirectly works for the platform currency holders. 
• Unlike other cryptocurrencies like security tokens, in-game tokens, and other native tokens, platform tokens have a serious business model, because the exchange platform has the most basic fee income, as emphasized by the analyst. 
• Platform Tokens Use Cases: These business techniques includes fee discounts, repurchase and burning mechanisms, versatility, and revenue opportunities for the platform currency to further push up the currency price, they explained.
  • This business model, for the analyst, promotes a positive spiral business logic.

Key quote: 

“The logic of making money in this round of bull market has changed dramatically, and the market of copycats is gone, and it is no longer the logic of making money without brains. As a simple example, the inscriptions have earned a lot of money before, but they are all on the books, and the inscriptions that run slowly have been zeroed out, and no one cares about the pending orders at all.”

Why buy CoinEx’s $CET? 

• Founding Team’s Good Background: According to the analyst, because the exchange was founded by the “big guys in the early days” of the industry, they already knew what to do to make the token bullish.
  • The exchange’s CEO, Yang Haipo, who is the first programmer to write the code for the $BCH mining pool, is also the reason why the ViaBTC mining pool, the mining pool that dug out the latest BTC halving block, was formed and is now among the top ranks, they insisted. 
• Business Model: CoinEx’s business techniques, such as discounted deduction of platform transaction fees and VIP services, are also said to pump the token’s fiat value.
• Tokenomics: CoinEx also uses 20% of the platform fee income to repurchase $CET every day and burns all the $CET repurchased in the current month at the end of each month. This is also expected to help the token’s price action go upward. 
• Future Use Cases: $CET will begin to hype-up new CoinEx features, as claimed by the analyst, which include pledged mining, financial management, lending, Launchpad, and Launchpool.

By the numbers:

$CET’s data as of September 11, 2024

• ₱11.76 Billion: Total market cap
• 10 Billion: Maximum total supply
• 2.78 Billion: Total circulating supply
• 7.12 Billion: Total number of $CET burned
  • This makes 70% of the token’s total supply burned. 
• 97% of the total circulating supply is owned by the top 10 wallets.
  • The 1st, 2nd, 5th, 7th, and 8th largest wallets that hold $CET are CoinEx’s internal addresses.

“After such a news + fundamental analysis, CET is undoubtedly the platform currency that will take off in this round of bull market. Everyone who understands understands it, smart people have already started to build positions when they see this.”

Worth reading:

CoinEx has an active community that supports its ecosystem in the country, which is called CoinEx Filipino. 

• The community hosted a three-day University Road Show in Baguio City.
• Meanwhile, in partnership with CoinEx Charity, the exchange’s NGO, they participated in the Dyaryo Veritas Medical Mission, providing free 2D Echo screenings, medicines, and vitamins to children in Batangas City Sports Coliseum.

This article is published in collaboration with Coinex: What is CET Token | Chinese Analyst Has This To Say About Crypto Exchange Tokens

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