Market
Is it time for the trio of BNB, FTT, HT to take the stage? – Bitcoin magazine
The broader market has entered an uptrend phase. Basically, this is the phase when the fear of missing out arises and the mass of gamblers in the crypto space is driving inappropriately high levels of trading.
In fact, centralized exchanges will make more money than usual through trading and funding fees. So are there ripple effects on the prices of stock exchange tokens?
Analyze past trends
During most of the previous bull phases, Exchange tokens have done quite well. Between March 25 and May 12, 2021, when both Bitcoin and Ethereum hit new highs, Binance Coin’s value rose more than 205%.
During the same period, FTX’s FTT and Huobi’s HT also increased nearly 100% and 230%, respectively.
Source: TradingView
An appreciation was also recorded in the price charts of these tokens in earlier upward phases. So if history repeats itself, the exchange tokens will increase by a moderate percentage in the coming months.
What do the indicators say?
In terms of active addresses, all three tokens have quite a decent profit compared to their respective levels as of early October. Basically, this means that the daily speculative level of the amount involved in these tokens is growing. This is a good sign.
The average age of the coins is also interesting. This metric essentially highlights the number of days that the respective tokens exist at their current address. The upward slope in the diagram shows the accumulation / HODL trend across the network. Conversely, as the average age of the dollar is getting younger (falling or falling), it can be argued that older tokens have started to move.
The current trend of FTT and BNB seems to be quite healthy, but that of HT does not seem attractive at the moment. The crypto crackdown from China has a lot to do with HT’s downtrend in terms of longevity.
Source: Santiment
On the flip side, the NVTs of all three have seen spikes so far, suggesting that the network value could far outweigh the value transmitted on the network.
A high NVT indicates phases of legitimate growth or a possible price bubble. Given the attractive state of other indicators, it can be said that the growth phase of these tokens has probably begun.
Source: Santiment
So if the broader bull phase continues smoothly, the exchange tokens will likely bounce back. However, with the repressive FUD scenario, nothing can be said with certainty about HT at this point.
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Annie
According to Ambcrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Market
Is it time for the trio of BNB, FTT, HT to take the stage? – Bitcoin magazine
The broader market has entered an uptrend phase. Basically, this is the phase when the fear of missing out arises and the mass of gamblers in the crypto space is driving inappropriately high levels of trading.
In fact, centralized exchanges will make more money than usual through trading and funding fees. So are there ripple effects on the prices of stock exchange tokens?
Analyze past trends
During most of the previous bull phases, Exchange tokens have done quite well. Between March 25 and May 12, 2021, when both Bitcoin and Ethereum hit new highs, Binance Coin’s value rose more than 205%.
During the same period, FTX’s FTT and Huobi’s HT also increased nearly 100% and 230%, respectively.
Source: TradingView
An appreciation was also recorded in the price charts of these tokens in earlier upward phases. So if history repeats itself, the exchange tokens will increase by a moderate percentage in the coming months.
What do the indicators say?
In terms of active addresses, all three tokens have quite a decent profit compared to their respective levels as of early October. Basically, this means that the daily speculative level of the amount involved in these tokens is growing. This is a good sign.
The average age of the coins is also interesting. This metric essentially highlights the number of days that the respective tokens exist at their current address. The upward slope in the diagram shows the accumulation / HODL trend across the network. Conversely, as the average age of the dollar is getting younger (falling or falling), it can be argued that older tokens have started to move.
The current trend of FTT and BNB seems to be quite healthy, but that of HT does not seem attractive at the moment. The crypto crackdown from China has a lot to do with HT’s downtrend in terms of longevity.
Source: Santiment
On the flip side, the NVTs of all three have seen spikes so far, suggesting that the network value could far outweigh the value transmitted on the network.
A high NVT indicates phases of legitimate growth or a possible price bubble. Given the attractive state of other indicators, it can be said that the growth phase of these tokens has probably begun.
Source: Santiment
So if the broader bull phase continues smoothly, the exchange tokens will likely bounce back. However, with the repressive FUD scenario, nothing can be said with certainty about HT at this point.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Annie
According to Ambcrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
