Definition ∞ A legacy token refers to an older or established digital asset that has been operational for a significant period. These cryptocurrencies or tokens possess a history of network activity, a recognizable market presence, and often a larger market capitalization compared to newer projects. Examples include Bitcoin and early versions of Ethereum, which have endured multiple market cycles and protocol developments. They typically exhibit greater network effects and established communities.
Context ∞ The term legacy token frequently appears in news comparing the performance and stability of older digital assets against newer, often more speculative, offerings. Discussions center on their continued relevance, technological limitations, and potential for future growth amidst rapid innovation. Regulatory frameworks are often initially shaped by these established assets, influencing their legal and operational treatment.
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