Bears are pursuing two of the top cryptocurrency coins, Chainlink and Avalanche as they have lost some of their major gains. On the other hand, a majority of the altcoins in the bull market continue to capitalize on the bullish sentiments that are currently driving the market to new heights.
Conversely, DTX Exchange, a recently launched DeFi project, has seen a sharp price increase, going from $0.02 in stage one to $0.04 in stage two. Analysts predict it will have all the necessary components to become the next 100x token in 2024.
Chainlink Struggles To Move Past $20 Mark
Chainlink began to rise and even reached this level. Even though Ethereum ETFs were approved by the SEC, the bulls of LINK were unable to materialize despite the optimism of analysts and cryptocurrency enthusiasts waiting for the rally to continue.
Despite this weak price movement, cryptocurrency analysts remain optimistic about LINK. They believe that in the upcoming weeks, the value of the Chainlink coin will increase by 300%. Technical indicators for Chainlink are currently in favor of bulls, but if LINK is unable to maintain above the $16 support level, the market may move in a different direction.
Avalanche (AVAX) TVL Stabilises While Active Users Decrease
Avalanche is attempting to use its three native chains to resolve the blockchain trilemma. This chain’s division of computation tasks allows for increased throughput without sacrificing decentralization.
Over the past seven days, 7336449 transactions have been made using 20651061 addresses according to the Avalanche protocol. Over the past three months, the protocol’s total active address has decreased from 205,297 to 95788. The protocol’s daily and monthly transaction counts have been slightly declining over the past few weeks. Nearly 260,000 unique contracts have been deployed on the blockchain, a record high.
The TVL of the Avalanche Protocol has not improved since 2023. The protocol’s TVL is currently $860 million, down from its peak of $11.5 billion. The average revenue was $20k, whereas the average amount of fees collected was $26k. It is currently seeing a positive inflow, which could propel the protocol’s bullish trend.
The Avalanche price is presently forming tiny consolidating candles on the daily chart. It is trading below the 50 and 100 EMAs. AVAX’s upward trend may come to an end close to $40. In the meantime, the Avalanche price is close to $30 in support. AVAX’s RSI is close to 47 and slope-free, indicating that it is in the neutral zone. The RSI’s overall momentum is beginning to stabilize.
DTX Exchange Revolutionizes DeFi Space With Its Tremendous Gains
DTX Exchange, a trading platform, aims to establish a technologically advanced, safe, and inclusive financial ecosystem. The platform seeks to create a future where anyone can take advantage of blockchain technology and engage in the international financial markets, regardless of background or geography.
The swift climb of DTX’s presale, which raised over $620,000, becomes even more noteworthy with the advancement of stage 2. The value of the DTX token in stage 2 is $0.04. During the next DTX presale period, each share will be sold for $0.06. DTX’s new blockchain is attracting investor interest due to its potential for colossal returns.
In contrast to conventional exchanges and other decentralized platforms, the DTX Exchange protocol has several advantages. High performance, non-custodial trading, security and transparency, and worldwide accessibility are a few prominent advantages. An additional element attracting investors to DTX is the impending announcement of a giveaway.
Key Takeaways
- The tremendous DTX presale has proven it to be a game-changer in the DeFi space.
- Analysts predict that the platform will surpass Chainlink (LINK) and Avalanche (AVAX) shortly
- Chainlink struggles with its price movements.
- AVAX faces a decrease in active users.
Learn more:
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