- Creditcoin’s price surged by more than 200% this week.
- It jumped after being listed by Upbit, a leading crypto exchange.
- It has also risen because of the growing demand for tokenization assets.
Creditcoin (CTC) token price went vertical this week as demand for the coin jumped. The token surged to a high of $0.9145 on Tuesday, its highest point since January. It has rallied by more than 411% from its lowest point this year, giving it a market cap of over $203 million.
Why is CTC token rising?
Creditcoin is a multichain credit protocol that powers Real-World Assets (RWA). Its goal is to work with major financial institutions to bring real-world assets on-chain. It helps them record loan terms, repayments, and credit performance in the protocol,
The goal is to grow the lending market and reach billions of people globally, including the unbanked. This growing market has the potential to reach billions of people from around the world.
Credicoin’s network is seeing robust growth after the 2.0 launch. The number of daily holders has jumped to more than 541k, according to the Subscan. Another figure shows that the daily transfer amount rose to over 77k on Tuesday. The daily bond value has risen to over 71k.
The CTC token price surged because of the latest listing by Upbit, one of the biggest crypto exchanges in the world. This listing makes it available to the thousands of Upbit’s customers, especially those in South Korea.
In most cases, crypto tokens tend to do well after being listed by major exchanges. Creditcoin is now available in other exchanges like OKX, Bybit, XT, and Gate.io.
Creditcoin traded volume also skyrocketed. According to CoinGecko, the volume of these tokens jumped to over $184 million on Wednesday from the previous day’s $23 million.
The token is also rising because of the ongoing demand for tokenization assets. Analysts at Boston Consulting Group believe that over $30 trillion assets will be tokenized.
Creditcoin price forecast
The daily chart shows that the CTC token price has been in a strong uptrend in the past few weeks. It has risen from a low of $0.125 in November to over $0.60. Along the way, Creditcoin has moved above the 50-day moving average and the vital resistance at $0.50.
Creditcoin’s key oscillators like the Relative Strength Index (RSI) and the Stochastic have moved to the overbought level. Therefore, the token will likely retreat in the coming days as the listing momentum fades. This pullback could see it retest the support at $0.50.
In the long term, the coin will likely resume the bullish trend as it sees more exchange listings and as the tokenization demand rises.
