Cryptocurrencies can serve a myriad of different purposes. Bitcoin, for example, can be a store of value or even a risk asset. Ethereum is used for smart contracts and serves as the backbone of the decentralized finance universe. Stablecoins, which are designed to maintain a fixed value over time, are used to facilitate trading on crypto exchanges, among other things.
Utility tokens tend to serve a different, more niche purpose. But they’re still an important part of the crypto universe. And they can become incredibly valuable.
In this episode of Crypto Monitor, Vin Narayanan and Allison Brickell discuss what utility tokens are, how they relate to bitcoin, why investors should pay attention to them and more.
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