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Fungible token

A fungible token refers to a digital asset that can be interchanged with other units of the same kind, with each unit possessing equal value and having no unique identifiers to differentiate them. These tokens are commonly employed as a mode of exchange or currency within a blockchain network, like in decentralized exchanges (DEXs), gaming platforms and marketplaces.

Bitcoin (BTC) and Ether (ETH) are instances of fungible tokens in the crypto domain, as they are freely interchangeable with other units of the same cryptocurrency.