Binance Coin is Undervalued, KuCoin Shares Overvalued – TokenInsight
Certain exchange platform tokens like binance coin (BNB) are undervalued, while others, like kucoin shares (KCS) are overvalued, according to the latest report by token data and rating agency TokenInsight. Some, however, have ‘left’ their grade at the time of the writing.
The report noted that providing accurate valuations properly in the crypto industry is difficult, but that when it comes to the exchange tokens, the value can be “fairly evaluated due to inherent properties of “stable currency f[l]ow”, allowing the foundation of a fair price.”
They used a number of valuation metrics, including Price to Earnings ratio, Earnings Yield, Price/Earnings to Growth, Price to Burn ratio, Burning Yield, Market capitalization/Earnings, etc., arriving to the results below.
Undervalued
Binance coin (BNB): price target USD 27.5 to USD 32.3; current price (14:05 UTC) USD 21.6.
Huobi token (HT): price target USD 6.5 to USD 7.2; current price USD 4.5.
Global utility token (OKB): price target USD 6.2 to USD 6.5; current price USD 5.3.
FTX token (FTT): price target USD 3.7 to USD 4.2; last price per the report USD 3.5; current price USD 3.8. This is the only coin on the list that is currently within the price target range as set by TokenInsight.
Overvalued
Kucoin shares (KCS): price target USD 0.89 – USD 1.06; current price USD 1.23.
LEO token (LEO): price target USD 0.94 – USD 1.17; current price USD 1.24.
Normal
HBTC token (HBC): price target USD 2.99 – USD 3.7; last price per the report USD 3.2; current price USD 3.84.
BitMart Token (BMX): price target USD 0.018 – USD 0.023; last price per the report USD 0.02; current price USD 0.03.
Both coins were at the time of writing above their price target, thus leaving the normal valuation range.
According the agency’s previous discovery when examining these tokens, “most exchange tokens are undervalued” at the prices three months ago. At the time, only LEO was deemed ‘overvalued,’ while the rest got the ‘undervalued’ rating.
“In our evaluation, we found out that from optimistic growth in the digital asset market as a whole, most of the exchange platform tokens are still on their upward slope and are considered to be underestimated; some are within the normal interval, operating steadily,” said the latest report.
