I have wanted to write an article for a long time regarding the analysis of platform coins. Let me talk about my views on platform coins.

Here I will only analyze the exchanges that I currently have registered (somewhat famous exchanges).

Binance (BNB)

OKX (UN)

Bybit (feels like it’s not released yet)

Kraken (I don't feel that either)

Kucoin (KCS)

GateIo (GT)

I can’t tell which HTX (HT, HTX, TRX) it is. There are too many coins in the name of Sun Ge, so I don’t recommend investing in it.

MEXC (MX)

BitGet (BGB)

The main data comes from CMC (CoinMarketCap).

BNB (Binance Coin):

Total supply: Initially 200 million, planned to be reduced to 100 million through "coin burning".

Circulation: Approximately 148 million.

Market value: Approximately $85.86 billion.

United Nations (UN)

Total supply: 300 million.

Circulation: 60 million.

Market value: Approximately $14.66 billion.

KCS (KuCoin Shares)

Total supply: 200 million, planned to be reduced to 100 million through "coin burning".

Circulation: Approximately 95.82 million pieces.

Market value: $1.66 billion.

GT (GateToken)

Total supply: 300 million.

Circulation: 93.22 million.

Market value: $2.367 billion.

MX (MEXC Token)

Total supply: approximately 426 million.

Circulation: Approximately 98.36 million pieces.

Market value: About $4.5 billion.

BGB (BitGet)

Total supply: 2 billion.

Circulation: 1.4 billion.

Market value: About $2.1 billion.

Let’s talk about the current exchanges in detail:

Binance (BNB)

At present, except for Binance, which uses its own platform coin mining, all other exchanges use hybrid mining. Binance's current mining is still relatively authentic. You don't need to pay too much attention, as long as you hold the locked position, mining will be automatic. Moreover, Binance's current trading volume is the sum of all exchanges. If we follow Binance's final market value of 100 million BNB, it will be less than 50 billion. At present, the market value of 50 billion US dollars for the world's leading companies is really too low, and the currency circle is still an emerging industry. As a public chain, it is also one of the most active representatives at present, and the number of transactions on the chain should be Top1. The only drawback is that there has not been a MEME representative so far. BNB actually performed very well in 2024, with an increase of 87% in the past year. There are also multiple Launchpools every month, and there are also current and future Megadrops, all of which use BNB for mining.

UNSC (UN):

OKX was once known as the "first exchange in the universe", and the founder of Binance also came from here. This exchange, like the Whampoa Military Academy, has experienced many ups and downs, including the crisis of bankruptcy. In the past one or two years, OKX has successfully seized the opportunity of WEB3's entry and has risen rapidly. At present, it is ranked as the leader in the industry alongside Binance. However, in the past year, OKB has almost no empowerment, and even seems to have some "domestic discrimination" in mining, mainly supporting mainstream currencies such as BTC, ETH, and TON. Despite this, OKB's annual growth rate is only 8%, which is significantly behind other platform coins. If OKB can be diversified like BNB, I might consider buying it, but under the current situation, it is estimated that it can only go sideways.

KCS (KuCoin)：

KuCoin is not open to users in mainland China. I rarely use this exchange, and I have only used it to buy some specific currencies for my friends. KuCoin's staking has no advantages, and the platform currency has limited capabilities, mainly used to deduct handling fees. The market value of its platform currency is relatively low and lacks appeal.

GT (Gateio)：

Gateio is a well-performing second-tier exchange. It is not ostentatious and is not ambiguous about the behavior of cutting leeks, especially in terms of inscriptions. Although many inscription communities have tried to launch a withdrawal campaign, they have not succeeded. Users who hold GT usually receive airdrops when new coins are issued, which is like a golden shovel. In the past year, GT has increased by 60%, which makes holders very satisfied. For currencies that cannot be purchased on first-tier exchanges, Gate.io can provide trading services for almost all of them, which is one of the reasons why I use this exchange frequently.

MX (MEXC)：

Currently not open to users from mainland China. This exchange has a mediocre reputation and is often criticized for listing low-quality coins at random. Despite this, there are occasionally some exclusive coins that force users to use this platform. The increase in the past year is nearly 60%, which has a certain appeal.

BGB (BitGet)：

I personally like this exchange very much. Especially the increase in platform coins. In 2023, BGB performed well and grew rapidly. For the future, I am optimistic about its potential to enter the first-tier exchanges. Although the platform coin empowerment of this exchange is not as frequent as in the early days, there are occasionally some small benefits. Recently, the empowerment of BTC, ETH, and USDT has performed well. I personally like to use this platform very much, especially the frequency of mining has increased significantly, which may be because BGB has increased too much recently, and the exchange is controlling its rapid increase. The current platform coin price is not bad, and I also hold some. The increase in the past year is as high as 134%, which is the leader in the increase among all platform coins.

Talk about others:

Bybit: The mining efficiency of this exchange is very high, mainly through staking the current currency to mine. However, the new currency issued by Bybit is risky, so it is recommended to be cautious and not to buy in large quantities. If you are considering mining, you can wait for the price of MNT to fall before buying.

HTX: Since Sun Ge took over, the performance of this exchange is beyond words. I rarely use HTX because its functions are complicated and impractical, and the attractiveness of mining is also waning. It is recommended to wait and see, and it is not recommended to invest heavily.

Summary: When choosing a mining platform, you should give priority to stable and reliable currencies such as USDT, USDC, BTC, and ETH for mining. In terms of platform currencies, BNB, BGB, and GT still have good future growth potential.