Exchange tokens like BNB Coin (BNB) and OKB (OKB) have been pumping lately and the next in line that could be boosted as a result of this trend would be KCS (KuCoin) and BGB (Bitget).
BNB Coin (BNB) made a new all-time high on August 20 as it reached $882. Meanwhile, OKB delivered triple-digit gains to investors after a massive token burn that wiped out 93% of the token’s total supply.
The crypto market has been booming recently and exchanges are capitalizing on investors’ increasing interest in cryptocurrencies and institutional adoption.
BGB and KCS are both purchased to get discounts on trading fees and other perks by BitGet and KuCoin users respectively. These two crypto exchanges are the 6th and 9th largest venues to trade cryptocurrencies in the spot market.
As Trading Activity Increases, BGB and KCS Will Receive a Big Boost Soon
They process daily trading volumes of $3.3 billion and $1.6 billion respectively. As this bull market continues to unfold, trading activity will likely increase and so will the demand for KCS and BGB.
We will focus on BGB as it is the largest token of the two by market capitalization. Trading volumes for this token have surged by 27% in the past 24 hours as it recovered from a session low of $4.4 and surged to $4.8.
The daily chart shows that BGB has been consolidating for a while and has been jumping up and down between $3.5 and $5.5 in the past 6 months.
If this token follows BNB’s footsteps, it could soon surge to $10. Before that happens, we may expect a decline to the $3.5 support that lures buyers and creates the necessary liquidity for the next leg up.
A confirmed bullish breakout above $5.5 would set off the rally toward $9 – $10 over the next few weeks as trading activity continues to increase. The Relative Strength Index (RSI) favors a bullish outlook as it has been rising in the past few days even though the price has been trading in a tight range.
Apart from traditional exchanges, the best crypto futures trading platforms offer a frictionless alternative to profit from this bull market. CoinFutures has emerged as one of the most user-friendly alternatives to trade at a low cost and without KYC verification.
CoinFutures Offers Auto Trading Features and Supports Dozens of Cryptos
CoinFutures is an innovative crypto futures trading platform that allows traders to place bets on their favorite tokens through a highly user-friendly interface.
You can easily open long and short positions with this platform based on your predictions. Simply click “Up” if you believe the price will rise or “Down” if you think it will drop. Then choose the amount that you would like to trade and use the price multiplier tool to boost the size of your position.
Use the auto trading features to establish entry and exit prices for your trades so you can lock in profits and limit your losses automatically.
The platform currently supports top tokens like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and BNB Coin (BNB) but will soon add more.
To open an account and start trading, simply hit the “Register” button on the official CoinFutures website. You can deposit cryptocurrencies like USDT or ETH to start your journey or use a bank card.
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The post KCS and BGB Exchange Tokens Pumping, Is the Bull Market Still Here? appeared first on Cryptonews.
