BNB, FTT, and CRO are exchange related tokens
Crypto-exchange-related tokens have an added security protection
All the tokens are bullish and offer opportunities in August
Tokens backed by crypto exchanges are some of the best to own due to their added security. While the list for exchange-related tokens is inexhaustible, we bring you the best 3 selections. They are tokens with huge potential in August if the current bull market remains.
Binance Coin (BNB)
BNB/USD ranks as the largest crypto-exchange-related token. It comes at position five overall in crypto markets, with a market cap of around $46.6 billion. The cryptocurrency is backed by the world’s largest crypto exchange Binance.
BNB ranks as a crypto to watch in August as most cryptocurrencies show up. With increased trading volumes, Binance will attract more users, and BNB will get a boost.
Source – TradingView
BNB has recaptured the $288 level after the latest gains. That puts it at the next level of $326 in August.
FTX Token (FTT)
FTX token FTT/USD may not be among the top 20 tokens. Ranked 22nd with a market cap of $4.23 billion, the FTT token is one to watch in August. While markets crashed and most crypto exchanges faced liquidity issues, FTX remained strong. FTX CEO SAM Bankman-Fried even went ahead to help struggling firms. FTT will grow as cryptocurrencies recover.
Source – TradingView
FTT has hit resistance at $32 after recent gains. A breakout past the resistance or retracement opens buy trades next month.
Cronos token (CRO)
Cronos token CRO/USD is ranked at position 24 with a market cap of $3.497 billion. Crypto.com exchange seemed to succumb to the bear market by announcing reduced rewards on its cards. However, it backtracked, and its token is one to watch.
Crypto.com has been top in clinching sports deals and in an expansion spree. If indeed the deals are to materialize into something big, it is when cryptos start to surge.
Source – TradingView
CRO has broken above the $0.12 resistance. The token is a buy in August with a target of $0.168.
The post 3 exchange related coins you should consider in August appeared first on CoinJournal.
