The cryptocurrency market is abuzz with speculation about the next big altcoin to generate big gains. While giants like Solana (SOL) and Cardano (ADA) grapple with market fluctuations, a surprising contender, DTX Exchange (DTX), is capturing the spotlight.
With groundbreaking features and a stellar presale performance, DTX is being touted as the next potential 10x altcoin. Let’s take a closer look at why!
SOL’s Slide: What’s Driving the Decline Below $200?
The price of Solana (SOL), which recently surged beyond $220 in a robust bull market, has seen a dramatic turnaround. SOL was trading close to its all-time high of $263 only last week. However, due to the current unfavorable market mood, its value has declined dramatically.
Investors are now wondering if Solana can bounce back from this decline or go below the $150 mark. The SOL price is now trading at $197 as of the reporting time, indicating a decrease of more than 7% over the previous day. There has been continuous negative pressure on the cryptocurrency as it has been consolidating within a declining pattern.
At this point, a positive reversal may push the Solana token back above the psychological $200 threshold. On the downside, the Solana price may decline to its immediate support level of $190 if bears take over.
Cardano’s ADA Fights to Stay Above $1
As Bitcoin fell below $100,000 on Tuesday, Cardano’s ADA fell over 13%. This sell-off, which was not limited to Bitcoin or ADA, has resulted in the liquidation of stakes valued at millions of dollars. The ADA price is battling to maintain the psychological threshold of $1 without significantly impacting the positive market structure.
Currently trading inside the $0.874 to $1.327 range, Cardano’s latest rise was unable to surpass the range’s midpoint at $1.100. Even if the recent crypto market collapse was severe, ADA’s market structure will still be bullish, unlike other altcoins, even if it declines another 10% to 12%.
Investors are anticipating a flip of the midpoint of the range, which may occur as soon as Bitcoin stops declining. They should take note that the cryptocurrency is bullish and ready to soar higher, even though the recovery could take some time.
Why Analysts Are Bullish on DTX Exchange’s 10x Potential
DTX Exchange (DTX) has been a surprising pick for investors this year as it seeks to take over the crypto market with its revolutionary aims. It aims to unify the pros of centralized and decentralized exchanges under one roof, offering over 120,000 commodities on its platform.
It is going to be the first crypto-native platform to offer stocks, cryptocurrencies, bonds, ETFs, forex, and a lot more on its platform. This will save DTX users from the hassle of managing multiple platforms for multiple assets.
This has been made possible by its layer-1 blockchain, VulcanX, which recently launched its testnet and gave an estimated speed of over 100,000 transactions per second (TPS), making each transaction time around 0.4 milliseconds. This has the potential to make DTX Exchange one of the fastest players in the market.
Further, regarding its innovative offerings, DTX Exchange offers its users leverage up to 1000x, minimum slippage due to its distributed liquidity pool, KYC policy regulation, ETF tokenization, Phoenix Wallet, and a lot more that is yet to be revealed.
These offerings have generated immense hype surrounding DTX Exchange as its official launch draws near. Currently, DTX Exchange is in its presale phase, showing phenomenal performance. It has collected over $11.4 million in funding despite being launched just a few months ago.
This stellar performance has led analysts to pick DTX Exchange (DTX) to invest in established projects like Solana (SOL) and Cardano (ADA). Analysts forecast for a price rally ahead, generating gains up to 10x ahead, giving investors a further chance to make big gains.
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