Reasons why exchange coins moving up..

bearexin

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Quote from: ubercool on February 11, 2020, 11:20:19 AM

There was a time when investors and newbies went on a crazy spree to invest on exchange tokens like BNB, OKB, BIX, HUOBI TOKEN, Kucoin Shares and Aurora...

Many of them strated pumping from 3-4 days and it was not a small one. I have seen that this happens when BTC moves big. What is your opinion on this..?

Usually bitcoins carry most of the altcoins along in any type of rally. Current markets are moving in ascending position which is even making some utility coins, tokens, etc follow the path open by bitcoins. This is been seen from a long time. The graphs for those coins you mentioned above are much similar to the graph of bitcoins. That is the reason why I mainly focus on the graphs of bitcoins to understand the trend and market movement.

Considering the 1 Day graph of bitcoins, a more bigger pump can be expected in few coming days which would also pump the price for major altcoins including he coins backed by exchanges. Usually people maximize the use of any exchange in terms of bull runs and this might be the another reason why such coins start showing huge pump.

davinchi

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Quote from: aemma on February 18, 2020, 06:20:45 AM

These exchanges you mentioned are good and therefore holding their coin is also a good move because with upgrades or improvements leads to more value and we all knows what it means for a token of be valuable. On the other hand, there are exchanges which has failed to make their own token attractive or stand out and therefore can't be compared to these ones aforementioned. So it's right to say, the type of exchange token we tend to hold is very important. In addition, I can say that, their increase in price can also be likened to the movement in the market which many other altcoins were part of.

These coins which are backed by exchanges are also used by the exchanges to minimize the trading fees which gets much helpful for the traders for cost cutting. This makes a lot of investors find interest in holding such exchange coins for their own benefits. This increases the demand for the limited supply of coins and it leads to price growth.

These coins would also have higher prices in the coming future as their demand would never depict and more and more new traders/investors would keep on joining these exchanges to create a secondary steam of income. This would drastically lead for a price pump. That is the reason why I love holding exchange coins.

RealMalatesta

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As long as exchanges hold the power their coins will continue to rise as well. Right now it is estimated that all exchanges combined "owns" over 10 million bitcoins which we already have just 18 million total, so they control over 50% of all crypto in the world and that is a big trouble but at the same time causes the exchange coins to go up as well.

If you gave power that much to any other person you would fear about the power they posses, think of a bank holding 50%+ of all the national fiat in your country, that is scary right, even the biggest of biggest banks do not have that type of power over any nation, which means centralized exchanges just have too much power and we have to show that respect towards their coin as well since we already gave that much respect by giving them our money.

ballerin and giroud

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Quote from: ubercool on February 11, 2020, 11:20:19 AM

There was a time when investors and newbies went on a crazy spree to invest on exchange tokens like BNB, OKB, BIX, HUOBI TOKEN, Kucoin Shares and Aurora...

Many of them strated pumping from 3-4 days and it was not a small one. I have seen that this happens when BTC moves big. What is your opinion on this..?

Lets say those exchanges are successful to attract many people to use their platform and as an income their own token will up because there will be many people who believe that the token is a good to be use for their investment place. But I doubt when there are some new exchanges that popping up and have its own exchange, I think that hard thing to do to choose the coin/token to be use for an investment because we don't know that the exchange is not a scam. I think if you are interested to choose an exchange coin then you should choose some exchange that have been known and have good reputation on this place.

joinfree

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The reason why exchange coins move up regularly is the liquidity and demand that is created for it by the exchange platform. For instance, some exchanges offer reduction of fees for users who trade using the native coin/token of the exchange as fees. In addition, others also burn some of their currencies from time to time to reduce the amount of their coin in circulation. Consider Binance coin for example, they burn some of their coin periodically and this has contributed in its price growth.

Barbut

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Two reasons: 1. More traders, 2. Burning! With more traders on the exchange, more commission charged, higher the volume, higher the payouts. The second reason is burning, some exchanges are burning their coins and cutting the supply, that affects the price.

awakpane

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In my opinion, BNB, OKB, BIX, and HUOBI are indeed good investment coins, not just now. for example BNB, besides having its own exchange, this coin does have good potential for investment. especially now that they continue to pump up significant prices. I think this is good news for investing in one of these coins.

aemma

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These exchanges you mentioned are good and therefore holding their coin is also a good move because with upgrades or improvements leads to more value and we all knows what it means for a token of be valuable. On the other hand, there are exchanges which has failed to make their own token attractive or stand out and therefore can't be compared to these ones aforementioned. So it's right to say, the type of exchange token we tend to hold is very important. In addition, I can say that, their increase in price can also be likened to the movement in the market which many other altcoins were part of.

sangjoewara

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Quote from: Mealea on February 17, 2020, 03:45:11 PM

Exchange coin is one good coin. Exchange coin can bring a lot profit if we can hodl for a long time. It is one good coin that everyone should invest into.

What good coins should everyone invest in? because there is also a coin exchange that is not good even though we want to struggle for a long time, this is what we have to be able to sort out, so we don't think all the coin exchanges are good.

alani123

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One of the good things with exchange coins is that they have the opportunity to have a slight deviation from major coins when prices are falling under a bearish market. Their utility makes them useful even when prices are falling, as they serve a purpose of decreasing fees and earning through the exchange via volumes, not just crypto prices. So increased volumes, even under a falling BTC price, would have exchange coins more protected other than other altcoins which are known to be greatly correlated to BTC.
But still, there's big correlation. Bearish sentiments sweep markets and so do bullish sentiments. Maybe when prices rise exchange coins could have the upper hand though.

Thomas-s

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Quote from: Mealea on February 17, 2020, 03:45:11 PM

Exchange coin is one good coin. Exchange coin can bring a lot profit if we can hodl for a long time. It is one good coin that everyone should invest into.

not all exchange coins will be good, so you should choose what to invest in as well as in any other altcoin. You also need to follow the events that occur on the exchanges. any negative news can destroy the coin, because it is completely dependent on the exchange. Exchange tokens are the same altcoins that require deep analysis

crzy

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Quote from: cassavachips on February 17, 2020, 10:48:31 AM

Currently investing in coin exchange is indeed very profitable, especially with coin exchanges which are now popular or used by many people, such as Binance and Kucoin.

These coins is the best as an alternative with bitcoin and eth. I do invest on BNB since they introduced the IEO and their own technology, from there I earn big and that makes me believe that having a good system can boost up the value of your coin and its really one of the sure investment to take profit.

jacafbiz

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To be sincere we all know that exchange tokens are some of the selected few projects in the space that have real usecase, and when volume start building up and increasing on exchanges the way it was this month, the trading activities increases, the usage of these tokens increases and so is the demand for them because people want to make the most of the incentives of using them for paying transaction fees

jerrison

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investing in xchange token is more than considering the roadmap o the excahange and also the timeline, it is even more than the liquidity the exchange has, these cases have been noted to be undeniable in the example of Bittrex exchange that has enough liquidity but then, still it has challenges with innovation and considering the dimension of the technology and how to solve the challenges as they arise because every solution provided has in store a new challenge and that is what the Binance exchange holds that makes it a step ahead of others.

chennappa121

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Yes you are right bro it all depending on the exchanges reputation in crypto market because if we invented good reputation crypto exchanges coins or tokens like a bnb, okb and some more those will gives good retrains when the crypto market in bullish. so we have to choose the good exchange coins for investment.

Mealea

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Exchange coin is one good coin. Exchange coin can bring a lot profit if we can hodl for a long time. It is one good coin that everyone should invest into.

TheGreatPython

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Quote from: ubercool on February 11, 2020, 11:20:19 AM

There was a time when investors and newbies went on a crazy spree to invest on exchange tokens like BNB, OKB, BIX, HUOBI TOKEN, Kucoin Shares and Aurora...

Many of them strated pumping from 3-4 days and it was not a small one. I have seen that this happens when BTC moves big. What is your opinion on this..?

I know if you pay your trading commission with BNB then you will get discounts. Is this kind of option available with all other coins that you have mentioned? If so, then there must be continuous buyers for them and the exchanges which are collecting the coins as fee may not dump back so that their coins will reach some considerable big values in short period of time like how BNB has achieved.

Recently the binance's sister concern wazirx launched their own exchange coin WRX but not specifying anything about its application like trading fee with discounts. If exchanges launches their coins/tokens as fund rising method then they get dumped over the time but if they open doors with any possible application (like BNB) then there are more possibilities for those coins to get bumped regularly.

Bezobraznike

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Quote from: Rodeo02 on February 14, 2020, 11:24:53 AM

Quote from: Bezobraznike on February 14, 2020, 11:07:45 AM

-snip-

Actually there are many exchange making thier own coins just to follow what binance success story.
Having thier own coins and make thier own demand is what binance do to BNB.
But those copy cat do not have anything to offer other than you can use it to thier exchange and lessen the fees for widrawal.
There are many of them even new exchange before they launch make thier own coin to think that they can also earn money having that.
success of binance (BNB) will not gonna happen to other exchange unless they invented other use of thier coins and can also list to other exchange.

Rodeo02 I agree with you, other exchanges are trying to do the same as Binance, but with the right we can doubt that
Binance success can be copied by some other exchanges. What can they invent? Holders of the exchange coin have
dividends, some benefits for trading and that is it.
My point is that Binance is doing it, other exchanges trying to do the same, so hype is not over. Maybe we will see some
surprises and new inventions in the future, we need to be opened for stuff like that.

Hamzy7455

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Its absolutely good in opted in for exchange tokens or coins, but only few are worth it due to thousands of project with poor team, BnB,hob etc are doing good because of efforts of the team

imstillthebest

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this didnt happen when btc moves up but before when btc is still down , there was already a huge demand on these type of coins and yeah they pump extra ordinary . a few that i witnessed pump over 200 percent was , bnb coin . no exact reason behind this . lets assume they pump because they are backed by big exchanges . thats it . the exchange can manipulate the coin or they can make a gimick like for example if those who hodl lots of thier coins will earn some gifts .

Topic: Reasons why exchange coins moving up.. (Read 627 times)