Bitcoin price analysis reveals that BTC is poised to reclaim its position and soar above the price of $105,000. The Bitcoin price trajectory is forcing investors to put their BTC gains into Ripple (XRP), SUI, and DTX Exchange. These three altcoins are the best investment bets for this bull run, as an altcoin season is going to pump the prices of these three and provide huge gains to investors.
BTC ‘Leaves Crypto In The Dust’: Bitcoin Price Soars!
Coinbase CEO Brian Armstrong recently complained about “~1m tokens a week being created now, and growing,” calling for a new approach to exchange listing in the US.
Nevertheless, the BTC Dominance Index (BTC.D), which tracks BTC’s market cap versus the rest of the crypto market, has risen by 15.50% in January, and up 55% in the past three years.
Bitcoin rice’s rising market share defies the downside calls shared by various chartists and crypto commentators. A key driver of the Bitcoin price surge and BTC’s growing dominance is the increasing involvement of institutional investors.
The approval and launch of spot BTC exchange-traded funds (ETFs) have made Bitcoin more accessible to traditional investors, bolstering Bitcoin price and its market presence. For instance, as of Jan. 29, these funds collectively managed $39.57 billion worth of assets, up from $1.17 billion over a year ago.
Ripple (XRP) On The Brink Of 27% Rally
Ripple (XRP) is up 0.14% on Friday following the New York Stock Exchange (NYSE) Arca 19b-4 filing with the US Securities and Exchange Commission (SEC) for the conversion of Grayscale’s Ripple (XRP) Trust into a spot ETF. The remittance-based token could see a 27% rally in the coming days as issuers will potentially send a flurry of Ripple (XRP) ETF filings to the SEC next week.
Ripple (XRP) saw a tiny $1.78 million in futures liquidations in the past 24 hours, per Coinglass data. The total amount of liquidated long and short positions accounted for $842,000 and $941,000, respectively.
The Ripple (XRP) network continued its consolidation within a bullish pennant as it’s looking to break the pattern’s upper boundary resistance. If Ripple (XRP) can break the resistance and hold it as a support, it could rally 27% to set a new all-time high at $4.10. However, it also has to overcome its all-time high resistance at $3.55 for such a move to materialize.
SUI Price To See 326% Growth According To VanEck Report
Leading asset management firm VanEck has published a comprehensive analysis suggesting the SUI token could experience substantial growth, projecting a price target of $16 by the end of 2025.
The forecast emerges from a detailed market study comparing various smart contract platforms, with VanEck’s team identifying SUI as a standout performer in multiple key metrics. This price target would represent a 326% increase from current trading levels of around $3.75.
The analysis suggests SUI could capture approximately 5.5% of the total smart contract platform market, translating to a potential market capitalization of $61 billion. This projection takes into account the expected token supply of 3 billion unlocked tokens by January 2025.
Trading data from recent months supports VanEck’s optimistic outlook. SUI has established itself as the fourth largest platform by decentralized exchange (DEX) trading volume, trailing only established players Ethereum, Solana, and Arbitrum over the past 100 days.
DTX Exchange: The First Unified Hybrid Platform To Raise $13M
DTX Exchange (DTX) is a next-generation trading platform built on proprietary hybrid blockchain technology. It aims to bridge the gap between conventional and digital finance to meet the evolving needs of traders.
The platform is powered by the innovative L-1 VulcanX blockchain, which exhibits a speed of 200,000 transactions per second (TPS). Due to this hybrid integration, DTX Exchange offers a one-stop solution that offers stocks, forex, cryptocurrencies, and CFDs in a single platform.
The DTX ecosystem has integrated an advanced Phoenix Wallet, a non-custodial storage solution that allows users to securely store their assets and give them full authority. With over 600k downloads, this highly secured wallet has showcased its potential and is expected to be the first commercial solution to allow multi-asset storage.
DTX Exchange is now in the final round of its presale, offering retail traders their last chance to gain early access to an innovative platform. DTX tokens are priced at $0.16, and there is potential for them to increase by up to 100X, reaching a trading value of $16 after the public launch of the exchange.
Key Takeaways
The direction of the Bitcoin price encourages investors to put their profits into DTX Exchange, SUI, and Ripple (XRP). These three altcoins are the best choices for enormous profits.
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