After Bitcoin 
$76,042‘s price fell to $65,260, it has reversed direction, positively reclaiming the $67,000 mark. Meanwhile, cryptocurrency exchanges are seeking ways to diversify their revenues. One such method is building their own networks, a strategy that Coinbase has executed remarkably well.
Cryptocurrency Exchange News
Coinbase‘s BASE network, which launched without a token, has garnered significant attention. The total value locked in the network has rapidly increased, with a substantial amount of ETH on its bridge. Over the years, Binance‘s network with its BNB token has demonstrated its capabilities, while exchanges like Cryptocom have initially released tokens before integrating them into their main networks.
Now, Kraken is also set to develop its own network. According to a recent Bloomberg report, the popular crypto exchange aims to launch its network next year. It could resemble Binance’s BNB Chain or attract investors with low transaction fees like Coinbase’s BASE, without issuing a token. In any case, the possibility of airdrops may drive significant activity among airdrop hunters.
Details regarding whether the network will have its own token and other specifics are expected to become clear soon. Cryptocurrency exchanges are preparing as thoroughly as possible for the anticipated bull markets while strategizing on how to survive the prolonged, dull bear seasons that may follow.
