The Binance Coin, Huobi Token, and Crypto.com Coin are on fire. The Binance Coin price has jumped by more than 44% in the past 24 hours becoming the biggest digital currency in the world after Bitcoin and Ethereum. Similarly, the Huobi Token price has jumped by 33% while the Crypto.com Coin has jumped by 12%.
Exchange-backed coins like Binance Coin and Huobi Tokens are the native coins that power transactions in the industry. In the past few months, these coins have done well, helped by the surging demand for cryptocurrencies.
Indeed, the three exchanges have seen a sharp increase in volume in the past few months helped by institutional investors. For example, Huobi enabled transactions worth more than $49 billion in the past 24 hours. The coins are also rising after reports emerged that Coinbase was being valued at more than $77 billion ahead of its IPO.
You can read our Binance Coin price prediction here.
Huobi Token (HTU) price prediction
The HTU price has been on a steep upward trend in the past few months. It has risen by more than 345% this year. On the four-hour chart, we see that the current rally happened after it formed a bullish flag pattern earlier this week. It remains above the 50-day and 25-day moving averages while the RSI has moved to the highest level since February 10. Therefore, while the Huobi Token price may continue rising to $25, we expect a minor healthy correction to happen in the near term.
HTU price chart
Crypto.com Coin price prediction
Like the HTU, the CRO price has been on a steady increase in the past few months. It recently passed the important resistance level at $0.0905 and has risen by more than 40% since then. The Crypto.com coin price also has remained above the moving averages while oscillators are pointing towards overbought conditions. Therefore, the currency will remain in an ascending trend but we should not rule out a short-term correction.
CRO price chart