Does Bitcoin's Price Determine the Future of Exchange Tokens like Binance's BNB token?

Or are the returns of exchange tokens more dependent on Ethereum's price?

Dear Crypto Asset Investors,

            As the size of the crypto market grows, so do the ambitions of the crypto exchanges. Many exchanges have launched their own tokens that enable investors to have lower trading fees while trading on their exchange. This is similar to a rewards program where users receive discounts off of future purchases in exchange…

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