Sentiment shifts toward optimism as Fed Chair Powell announces a 0.5% interest rate cut. Bitcoin (BTC) broke past $60,000 and altcoins weren’t left behind. Picking up steam are Binance Coin (BNB) and Ripple (XRP), with sights set on higher price levels.
At the same time, DTX Exchange (DTX), an emerging cryptocurrency, joins the list of top ICOs after raising an astounding $2.7 million in early funding. The rising interest is courtesy of its innovative blend of CEX and DEX and its convergence of traditional and decentralized finance.
DTX Exchange (DTX): A Top ICO
DTX Exchange (DTX), a novel player that combines the best elements of centralized and decentralized exchanges, is the latest on investors’ radars. This unique narrative, combined with its one-of-a-kind hybrid Layer-1 blockchain, sets the stage for massive adoption, driving huge demand and interest.
The Layer-1 blockchain, which went live earlier this month, is designed to integrate conventional financial instruments with Web3 products. Not only can cryptocurrencies be traded; users will have access to traditional assets like stocks, bonds, ETFs and forex, bridging the gap between DeFi and TradFi.
As it prepares to shake up and transform the $10 billion global trading market, investors have been showing a keen interest. In the third round of the ICO, over $2.7 million has been raised, priced at $0.06. With a projected 50x rally after its highly anticipated market debut, it has been hailed as the best new crypto to invest in, set to outclass Binance Coin (BNB) and Ripple (XRP).
Binance Coin (BNB): Anticipated Weekly Close Above $580
Binance Coin (BNB) is at the heart of the current market buzz as it trades on the upside. Reflecting bullish sentiments, it gains significant traction amid the Fed’s rate cut, aiming to reclaim higher resistance levels.
The past 24 hours have been exciting for the exchange-based cryptocurrency. It soared 2.6% on the daily charts, retailing above the $560 support. On the weekly timeframe, Binance Coin (BNB) gained 4%, extending its lead over most top altcoins.
With further upswings anticipated as confidence grows and buying pressure intensifies, the BNB price is on track to skyrocket. Analysts suggest a weekly close above $580, placing it on the list of altcoins to watch.
Ripple (XRP): Eyes Further Upticks
Ripple (XRP), the utility token of a cross-border payment protocol, gained a substantial uptick as the crypto market bounced back. The catalyst is a 0.5% rate cut by the Federal Reserve, pushing the XRP price to the upside.
Besides the daily gain, over 4% increase has been recorded on the weekly charts. It trades above the $0.58 support level, gearing up for a breakout above $0.6. According to a trending XRP price prediction, a rally above $0.65 should be anticipated before the end of Q3.
With the year’s final quarter promising more gains, Ripple (XRP) is among the best coins to invest in. Its clear regulatory landscape and growing institutional adoption, like the recent launch of Grayscale XRP Trust, will be crucial to the next leg of its bull run.
Conclusion
Amid the Fed’s 0.5% interest rate cut, Binance Coin (BNB) and Ripple (XRP) gained substantial momentum. At the same time, DTX Exchange crossed $2.7 million in presale, becoming a favorite among investors. Its blend of TradFi and DeFi and a combination of the best elements of centralized and decentralized exchanges put it on track for adoption.
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