Many crypto exchanges on the market have long been issuing their own tokens. An important reason is the binding of users to the platform. Thus, many of the tokens have their origin in a reward system for the platform’s customers. Those who use the tokens on the trading exchanges can save fees or receive so-called rewards, i.e. small gifts in the form of extra credits.
The well-known exchange tokens include the Binance Coin (BNB), the Huobi Token (HT) and the CRO Coin of Crypto.com. The following overview presents the three cryptocurrencies in more detail, analyzes their price development and takes a look at the price forecast. Which Exchange Coin should investors buy?
Binance Coin: Token of the market leader with 2000 percent price explosion
The Binance Coin entered the market in 2017 through a so-called ICO (Initial Coin Offering). The launch even took place a few days before the cryptocurrency exchange Binance started trading. The Ethereum blockchain was originally used as the technical platform for the token. A total of 300 million coins were generated. Meanwhile, however, a “move” to the Binance blockchain has taken place. All owners of BNB received BEP2 tokens in April 2019 in the same proportion to ERC-20 tokens.
With the Binance Coin, the largest crypto exchange in the world by trade turnover wants to secure the loyalty of its customers. BNB can be used as a means of payment or for applicable fees. Often Binance advertises with strong discounts when customers use BNB instead of other tokens.
BNB’s introductory price was just $ 0.1 in mid-2017. But with the launch of the crypto exchange and the general hype in the bull market in 2017, which pushed the Bitcoin to just under $ 20,000, early buyers of BNB were able to experience a rapid price increase. In January 2018, the altcoin reached a first peak at around $ 28.
After that, however, BNB followed the general market trend and experienced a strong correction and a subsequent long sideways phase. The Binance Coin reached a new all-time high in May 2019, when the $ 30 mark was cracked for the first time.
But then BNB’s investors experienced a long period of drought. Only at the end of 2020/beginning of 2021 there was a real price explosion at the same time as the start of the largest altcoin season in the history of the crypto market.
In February 2021, BNB was able to break the $ 100 mark for the first time. But the rally still leads the Binance Coin to far higher prices, peaking at nearly $ 700 in May 2021. In the following sharp correction, BNB reached lows of $ 215, which was still ten times higher than 2020 levels.
Meanwhile, BNB is already in a strong uptrend and is trading at around 500 dollars at the time of publication.
The analysts of Wallet Investor are very bullish about the further trend of Binance Coin. For example, prices of more than $ 800 are already expected for 2022, which would mean a new all-time high. By 2026, analysts even believe growth rates of more than 300 percent are possible.
The experts of Coin Price Forecast are even more confident and trust BNB already 2022 rates of more than 1.000 dollars. By 2024, a further doubling to $ 2,000 is expected before prices stagnate.
The market observers of Digital Coin Price, on the other hand, do not expect a BNB rate of more than 2000 dollars until 2028. They forecast the 1,000 dollar mark for 2023.
Token with Less Growth
Crypto.com Coin is the native cryptocurrency token of Crypto.com Chain. Crypto.com is a decentralized open source blockchain developed by the payment, trading and financial services company Crypto.com was developed.
With a market capitalization of currently around 4 billion dollars, the altcoin is ranked 38th among the most valuable cryptocurrencies. This puts CRO far behind BNB. Because the Binance Coin is currently valued at around 84 billion dollars and is thus in 4th place behind Bitcoin, Ethereum and Cardano.
The price of CRO has also risen far less in the 2020/2021 bull market than BNB. In February 2021, the previous All Time High was reached at around $ 0.28. However, at just under $ 0.16, CRO is currently trading 44 percent below this level.
Looking at the current CRO price compared to the same time last year, the altcoin is even 5 percent in minus. BNB, on the other hand, can record growth of almost 2,200 percent during this period.
The analysts of Wallet Investor expect a rising trend for the CRO price in the next few years. For example, growth of 140 percent by 2026 is thought to be possible, but this falls well short of the estimate for BNB (more than 300 percent plus).
Digital Coin Price predicts a steady upward trend for CRO. For example, analysts expect the price to reach a level of around $ 0.8 by 2028. That would be five times the current rate.
Huobi Token’s HT Coin Could Rise 360 Percent
Huobi Token or HT for short is the coin of the crypto exchange Huobi. Huobi Token is a relatively young project. It was first launched in January 2018, shortly after the native token was released on the competing crypto exchange Binance. With its own token, Huobi wanted to develop a flexible marketing strategy to attract new users and further expand its platform. Technologically, Houbi Token is based on the Ethereum blockchain and is ERC-20 compatible.
Similar to Binance Coin, the key function of the token is to reduce commissions on trading transactions on the exchange, which are usually paid from users ‘ wallets.
In the current bull cycle, the Huobi token has also reached a new all-time high at just under $ 40 in May 2021. But then followed a sharp fall in the price from which the altcoin has not really recovered so far. HT is still trading at less than half of the all Time high at just under $ 15.
With a market capitalization of 2.43 billion dollars, Huobi Token is miles behind the Binance Coin, but also significantly behind the CRO token.
However, the perspective for investors of CRO seems good. Thus, Wallet Investor issues a price target of just under $ 70 for the next 5 years. The expected growth of 360 percent even exceeds the assessment for the Binance Coin.
Digital Coin Price analysts are not quite as bullish. They trust the coin with a price of 65 dollars. However, only in 2028 and thus significantly later than according to the forecast of Wallet Investor.
BNB with best overall development
In the current bull cycle, the BNB coin is clearly performing the strongest, with growth of more than 2,000 percent in a year. And also in terms of prospects, according to analysts, a purchase of BNB seems worthwhile. However, the CRO token comes up with a similarly bullish forecast.