It is natural that the growth of the exchange token is linked to the performance of the exchange. The larger the exchange is and the more users it has, the more the exchange token will be used, whether through paying trading fees or some other services such as staking or farming in which the exchange token must be owned.
All of these things contribute to the growth of the exchange token significantly when the exchange grows, but in general, if you ask me about CEX tokens, I personally do not find them reliable, they are often manipulated, and they can collapse at any time, so I do not advise you to invest in them in the long term.