3 trading-related coins to consider in August


  • BNB, FTT and CRO are exchange related tokens

  • Crypto exchange related tokens have an extra security protection

  • All 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. Although the list of exchange-related tokens is inexhaustible, we offer you the best 3 selections. They are tokens with huge potential in August if the current bull market continues.

Binance Coin (BNB)

BNB/USD is the largest crypto exchange related token. It ranks fifth overall in crypto markets, with a market cap of approximately $46.6 billion. The cryptocurrency is backed by the world’s largest crypto exchange Binance.

ALSO READ  Mercedes Benz uses Polygon for a data sharing platform

BNB is a cryptocurrency to watch in August as most cryptocurrencies appear. With bigger trading volumes, Binance will attract more users and BNB will get a boost.

Source – TradingView

BNB has recaptured the $288 level after its latest gains. That brings it to 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 the markets crashed and most crypto exchanges faced liquidity issues, FTX remained strong. FTX CEO SAM Bankman-Fried even went on to help struggling companies. FTT will grow as cryptocurrencies recover.

ALSO READ  'This is mine' - Robinhood CEO lays off 23% of staff after loss in Q2

Source – TradingView

FTT has reached resistance at $32 after recent gains. A breakout beyond the resistance or retracement will open buy trades next month.

Cronos Token (CRO)

Cronos token CRO/USD is in position 24 with a market cap of $3.497 billion. Crypto.com exchange appeared to succumb to the bear market by announcing reduced rewards on its cards. However, it came back and its token is one to watch.

ALSO READ  Interview: The future is interoperability - CEO of the Router Protocol

Crypto.com has been top notch in sporting deals and in an expansion drive. If the deals do indeed turn into something big, that’s when cryptos start to rise.

Source – TradingView

CRO has crossed above the USD 0.12 resistance. The token is an August purchase with a target of $0.168.