In the past few months, a group of coins have been collectively growing. If you can identify this group, you can start longing the coins which haven’t pumped from that particular group and they will start seeing a similar price action as their peers.
Exchange tokens have acted in the same way. Initially, privacy coins like XMR, ZEC, etc started increasing in price. Then came the era of DeFi coins and we started seeing a surge in most of the DeFi coins like AAVE, SNX, BAL, SUSHI, UNI, etc. This was followed by older coins (Before 2019) like BCH, EOS, NEO, ETC, LTC, etc.
Exchange tokens have been on a good run off late and many of the exchange tokens are at an all time high price. Let us look at some of them.
Binance Coin (BNB)
BNB is the native token of the exchange Binance. It has multiple use cases like staking rewards, launchpads, launchpools, Binance Smart Chain, mining pool, dual savings, etc. BNB saw one of the strongest rally where it grew form $25 all the way to its all time high price of $147(5 days ago). That was a 6X gain in a couple of months. BNB has a market cap of $ 19,236,472,247 and its 24 hour trading volume was $ 2,877,039,419.
Huobi Token (HT)
HT is the native token of the exchange Huobi. 2 years ago, HT was trading at $0.9. In two years, it grew multiple folds to reach an all time high price of $13.96 just 4 days ago. HT has a market cap of $2,165,574,331 and its 24 hour trading volume was $ 428,251,312.
FTX Token (FTT)
FTT is the native token of the exchange FTX. In September of 2019, FTT was trading at $1 and from there it grew almost 22 times and was trading at its all time high price of $22.49 on Feb 10th 2021. Its market cap is $1,772,172,408 and its 24 hour trading volume was $40,938,860.
Kucoin Shares (KCS)
KCS, the native token of the exchange Kucoin is lagging behind its competitors. It’s all time high price is $20.17 (Jan 10, 2018) and it currently trading at almost 88% lower than the ATH price at $2.30. This shows that KCS has a good scope of making a bullish run. Its market cap is $ 183,724,989 and its 24 hour trading volume was $19,093,913.
OKB is the native token of the exchange OkEx. It was trading at $0.58 on Jan 14th 2019. From there, it did a 13X run to reach an all time high price of $10 on Feb 10th 2021. OKB has a market cap of $2,254,611,943 and its 24 hour trading volume was $296,639,283.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
View original post