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What is Tokenomics? Understanding Crypto Fundamentals (Supply, Market Cap, Utility)A �token� often refers to any cryptocurrency besides Bitcoin and Ethereum (even though they are also technically tokens). Because Bitcoin and Ethereum are. Tokens behave very similarly to cryptocurrencies, in the sense that they are a type of currency that exists on a blockchain, and can be transferred from one. Crypto tokens are digital assets built and deployed on top of a Layer 1 blockchain. In other words, crypto tokens are digital assets that are native to the.