The post Solana Challenges Ethereum’s Throne as DeFi King: Why Mainnet Launch Could Push DTX to 1440% Rally appeared first on Coinpedia Fintech News
As Solana (SOL) continues to gain traction in the DeFi space, it poses a significant challenge to Ethereum (ETH) ‘s dominance. With the upcoming DTX mainnet launch, there is speculation that this event could spark a massive 1440% rally, drawing even more attention to Solana’s growing ecosystem. In this article, we will discuss how Solana’s advancements and DTX’s potential could reshape the DeFi landscape.
Solana’s potential for a strong recovery: Will it rally above $160?
Solana (SOL) has been one of the top-performing cryptocurrencies in the last 12 months. Few top coins have come close to their gains and ability to achieve a strong bounce back after every major dip. But will a similar outcome play out this time?
Solana (SOL) bears have maintained dominance since the last week of August as market sentiment dipped. This has consequently pushed SOL into an important price level, around $120, which has historically acted as support at least for the last 6 months.
Moreover, Solana’s (SOL) price recently demonstrated consolidation above the same level in the first week of September. Sell pressure has notably tapered out which suggests that there could be some accumulation taking place.
Our assessment of Solana (SOL) demand revealed a spike in the number of net longs to over 18 million NLs at the $128 price level. This a sign that market sentiment is shifting in favour of the bulls.
Analyst predicts Ethereum could bottom at $1,200 by December 2024
Crypto analyst Benjamin Cowen says that Ethereum (ETH) could finally reach a price bottom sometime in December of this year.
In a new strategy session, Cowen tells his 812,000 YouTube subscribers that the unemployment rate in the US has historically topped out in December, coinciding with a bottom in crypto markets.
Given that unemployment is trending upward, and has in the past peaked in December, Cowen speculates that Ethereum (ETH) could reach its bottom in the same month as well. He also notes that Ethereum (ETH) tagged its logarithmic trend line in December in both 2016 and 2019.
DTX Exchange: Revolutionizing trading with DeFi integration and 100x growth potential
After the successful testnet launch with the record-breaking performance of 10,000 TPS, the DTX tokens have come under the spotlight after reaching 15,000 unique holders. Ready to surge beyond $1 post-mainnet launch, the bullish presale momentum of DTX Exchange is grabbing sums of capital from big moneybags seeking to become early stakeholders in the future of the next trading giant.
Interestingly, DTX Exchange is powered by a Layer-1 blockchain. Smooth governance and an extensive trading infrastructure is offered by this blockchain ecosystem. Also, DTX’s VulcanX protocol reduces trading fees considerably.
Moreover, DTX Exchange blends fast transactions, massive liquidity, and extensive market analysis. Through this integration, traders can make informed decisions while participating in the crypto market. The easy-to-use interface makes the crypto trading process a lot more simple and fun.
DTX’s current market performance justifies its value proposition. In its early weeks of launch, the platform secured over $2.5 million in funding, and analysts say it might surpass $3 million by the end of September 2024.
The DTX utility token underpins this project, currently in Stage 3 of its presale, valued at $0.06, a 200% surge from its original value of $0.02. The price will surge to $0.08 after DTX transitions to Stage 4 of this presale. Interestingly, analysts believe DTX Exchange’s token will be 1440x after listing on Tier-1 CEX in Q3 2024.
How to get DTX Tokens?
As DTX continues its explosive surge, traders are rushing to the platform to take advantage of its 100x growth potential. For investors seeking to catch the wave, signing up is simple:
Register: Create an account at www.dtxexchange.com and ensure the verification process is completed.
Deposit Funds: Transfer funds to your DTX wallet and explore all the products and Services available on the platform.
Begin Trading: Utilize DTX’s state-of-the-art trading tools to capitalize on the exchange’s 100x leverage and potential for massive profits.
Learn more: