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DTX Exchange Rumored to List on Binance in Q3, Uniswap and MATIC B… | EVM News
The cryptocurrency market thrives on accessibility and liquidity, with exchange listings playing a pivotal role in driving both. In recent months, rumors have swirled around the potential listing of DTX Exchange on the behemoth Binance in Q3 2024. This news, coupled with the ongoing bullish sentiment surrounding Uniswap (UNI) and Polygon (MATIC), paints an exciting picture for the coming months. Let’s discuss these exciting trends further in more detail.
Disrupting the Market: DTX Exchange Offers Innovative Trading Solutions
DTX Exchange is rapidly establishing itself as a major player in the ever-evolving cryptocurrency exchange landscape. Several innovative features differentiate DTX Exchange from its competitors.
The platform utilizes distributed liquidity pools, a feature that minimizes slippage and ensures users receive the best possible execution on their trades, maximizing their returns. Furthermore, DTX Exchange takes a hybrid approach, blending the security and trust of a centralized exchange (CEX) with the privacy benefits of a decentralized exchange (DEX).
One particularly intriguing feature is the ability to leverage trades up to 1000x without requiring KYC verification. This feature is likely to resonate with experienced traders seeking to maximize their returns, offering them the opportunity to amplify their profits without compromising their privacy.
Can UNI Break Through? Uniswap (UNI) Eyes Resistance Level
Uniswap (UNI) is currently navigating a dynamic market environment, with its sights set on surpassing the $11.640 resistance level. The token is currently priced at $9.42, boasting a market cap of $5.65 billion and holding the 17th position amongst global cryptocurrencies.
Market analysts are optimistic about a potential bullish surge, contingent upon UNI’s ability to maintain support above $9.90. This presents a compelling opportunity for investors seeking resilient and promising assets within the cryptocurrency landscape.
Under bullish conditions, UNI has the potential to not only challenge the $11.640 resistance but potentially surge toward $13.510 in the near future.
Polygon (MATIC): Bullish Signs Emerge Despite Recent Dip
Polygon (MATIC) is currently trading within a range of $0.512 and $0.616, facing resistance at $0.67. While the token has experienced a slight dip of nearly 2% over the past week and over 23% in the last month, there are signs of a potential turnaround. The 10-day Simple Moving Average (SMA) currently sits at $0.566, slightly above the 100-day average, indicating some underlying bullish momentum.
A breakout above the initial resistance level of $0.67 could see MATIC rally towards $0.774, representing a potential surge of around 50% from the lower end of its current range. The Relative Strength Index (RSI) currently sits in neutral territory, suggesting there’s room for upward movement in the coming days.
Binance Listing on the Horizon: DTX Exchange Presale Heats Up
DTX Exchange (DTX) is emerging as a presale sensation. With over $760,000 raised and on track to hit $1 million before the end of June 2024, DTX has already delivered a 100% return on investment for early adopters – a remarkable feat in a short timeframe.
The potential for a Q3 2024 listing on Binance, the world’s leading cryptocurrency exchange by trading volume, could be a game-changer for DTX. This exposure to a massive new user base could significantly increase trading volume, potentially propelling DTX Exchange toward the top tiers of the exchange ecosystem. Additionally, a Binance listing would undoubtedly solidify DTX’s market reputation, fostering trust and reliability.
Currently, DTX tokens are priced at a mere $0.04 during Stage 2 of the presale. However, this price is expected to rise to $0.06 once Stage 3 commences, representing a 50% increase. Industry experts even predict a potential surge to $0.5 upon listing on a Tier-1 CEX exchange in Q3 2024.
Learn more:
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Band Protocol Price Eyes 276% Jump As Bullish Wedge Pattern Emerge… | EVM News
NOIDA (CoinChapter.com)—Band Protocol (BAND) made significant advances in the crypto sector, and recent developments highlight the project’s commitment to expanding.
Unconfirmed social media posts suggest that Synthetix could be working on integrating Band Protocol. If true, partnership news could help BAND price confirm a bullish technical pattern.
BAND Price Formed Bullish Pattern
The Band Protocol token formed a bullish technical pattern called the ‘falling wedge.’
Bullish news, such as Bond Protocol’s making a new partnership or integrating with other projects, could help the project’s token confirm the pattern.
A falling wedge pattern features a pair of converging trend lines connecting lower highs and lower lows, forming a narrowing shape that slopes downward.
The pattern typically suggests that an asset’s price, while consolidating in a downtrend, is losing bearish momentum and preparing for a potential reversal to the upside. Typically, a breakout occurs in the direction of the overall trend, which, for a falling wedge, is upward.
To estimate the price target of a falling wedge pattern, traders measure the widest part of the wedge at the beginning of the formation. They then project this distance upward from the breakout point to set a potential target.
An accompanying increase in trading volume can further confirm the reliability of the breakout. Higher volume during the breakout suggests stronger market conviction, supporting the likelihood of a successful price reversal.
According to the rules of technical analysis, the Band Protocol token price could rally over 276% to reach the pattern’s theoretical price target near $4.6.
It is unlikely the token would rally to the projected price target immediately after confirming the pattern, but breaking out of the wedge setup could attract more buying pressure, helping the token continue its rally till profit booking puts the brakes on the run.
BAND Bulls Struggling With 20-Day EMA
BAND price climbed above its 20-day EMA (red wave) dynamic resistance as the token entered July. However, July 3’s nearly 6% drop forced the token’s price back below the EMA resistance, suggesting bears aggressively defend the supply zone near the 20-day EMA.
Bulls have their task cut out, with the token starting July 4 with minor gains. Flipping the EMA resistance with good volumes would certainly help the BAND price’s cause, helping the token rally to the resistance near $1.34.
A break above immediate resistance might see the Band Protocol token’s price target the 100-day EMA (blue wave) resistance near $1.5.
On the other hand, if BAND price fails to rally, the token could drop to the support levels near $1.14 and $1.05 before recovering.
The RSI for BAND remained neutral, with a score of 45.56 on the daily charts.
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Litecoin Price Tests Critical Support: Will the Bulls Prevail? | EVM News
NOIDA (CoinChapter.com)— Litecoin price ended June down by nearly 1
0%, and so far, July has not been very kind to the blockchain platform. LTC bulls have failed to convert a recent surge in network activity into a bullish cue for the token.
However, a technical setup might help avoid LTC price more bloodshed, if the bulls manage to avoid invalidating the pattern.
Litecoin Price Testing Support Of Bullish Setup
The Litecoin token’s price has formed a bullish technical setup called the ‘ascending triangle.‘
The token’s price are currently testing the ascending trendline of the pattern. A rebound from here could infuse confidence in the token’s rally, attracting more buyers expecting a bullish breakout.
Under technical analysis, an ascending triangle pattern emerges when a horizontal trendline connects swing highs and an ascending trendline connects swing lows. The pattern indicates a consolidation period where the buyers gradually gain strength against a consistent level of resistance.
Volume analysis is critical, as it helps to validate the breakout’s strength. Typically, as the price action approaches the triangle’s apex, the volume tends to decrease, reflecting a period of reduced trading activity and uncertainty.
When the trendlines converge, creating a narrowing price range, buyers often enter the market in anticipation of a breakout. Ideally, the breakout occurs above the horizontal resistance line, accompanied by a significant increase in trading volume.
The surge in volume is a key indicator that the breakout is robust and likely to sustain.
According to the rules of technical analysis, the price target for a breakout is equal to the triangle’s height at its thickest point. If the bullish pattern pans out, the theoretical price target for LINK is near $269.5, a spike of 267% from current levels.
LTC price Fails To Conquer EMA Resistance
Litecoin price has failed to move above the 20-day EMA (red wave) dynamic resistance since June 8, with prices dropping nearly 6% to a daily low near $72 on July 3. The downtrend suggests bears are booking profits near $72.
A sustained rally from here would likely see Litecoin price rally to the 50-day EMA (purple) resistance near $78. Moreover, flipping the above immediate resistance level could help LTC price rise to the resistance near $85.
On the other hand, if prices continue to fall, Litecoin could end up invalidating the pattern, inviting more bearish sentiment and likely ending up at the support level near $69. Failure of the immediate support could force LTC price to test the support near $63.8 before recovering.
The RSI for LTC remained neutral, with a score of 41.86 on the daily charts.
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Ethereum and Solana Battle for Dominance in Layer 1 … | EVM News
NAIROBI (CoinChapter.com)—Thanks to some recent developments, the rivalry between Ethereum and Solana has intensified. Ethereum remains a powerhouse in the Layer 1 blockchain sector and DeFi, but Solana is gaining traction with significant economic activity and growing market share.
CoinMarketCap data shows Ethereum commanding 62% of the $695 billion market cap in the smart contract space. The network also dominates revenue, securing 70% of Layer 1 income. Ethereum’s stronghold extends to the DeFi sector, with Ethereum doubling its total value locked (TVL) since the start of the year.
BNB Chain follows with $85 billion in the smart contract space, while Solana holds $59 billion. In terms of DeFi TVL, BNB Chain contributed $5 billion in the second quarter, and Solana contributed $4 billion.
Solana Gains Traction, but Ethereum Holds Strong
While Solana shows growth in certain metrics, Ether remains the dominant force. Mert Mumtaz, CEO of Helius Labs, noted that Solana’s economic activity surpasses Ethereum at times, driven by higher MEV and priority fees.
According to DefiLlama, despite Solana’s growth, Ethereum’s DeFi TVL stands at $57.36 billion, compared to Solana’s $4.5 billion. Tron and BNB Chain occupy the middle ground with $7.7 billion and $4.8 billion, respectively. Ethereum’s continued dominance in the Layer 1 sector, despite the rise of Layer 2 solutions, highlights the blockchain’s demand.
Ryan Connor, a researcher at Blockworks, posted on X about the strengthening case for the SOLETH relative value trade. Connor noted Ethereum’s market cap and price-to-sales ratio are near cycle highs, while Solana’s price-to-sales ratio is at all-time lows.
He emphasized Ethereum’s revenue decline and Solana’s growing market share and revenue, raising questions for traditional finance (TradFi) investors about Ethereum’s valuation.
Ethereum’s trailing 1-month price-to-sales (P/S) ratio fluctuated significantly, reaching a recent level of around 220, whereas Solana’s dropped to 67. Furthermore, Solana’s blockspace profitability has seen a sharp rise, reaching nearly $80 million in emissions.
In contrast, Ethereum’s blockspace profitability peaked at around $2 billion in mid-2021 but has since stabilized.
Additionally, the t30d DEX volume market share chart shows ether holding a majority share, although Solana has been increasing its presence, now capturing around 30%. Though the data supports the narrative of Solana’s growing influence, it also emphasizes Ethereum’s sustained leadership.
SOL & ETH Price Performance and Market Outlook
Price performance data reveals significant insights. As of July 3, 2024, Ethereum is priced near $3,280, experiencing a 5% decline in the past 24 hours and a nearly 3% decrease over the past seven days. Ethereum’s market cap stands at $395.8 billion, with a trading volume of $10.4 billion.
Solana is priced around $142, reflecting a 5.68% decrease in the past 24 hours but a 3.68% increase over the past seven days. This price increase aligns with Solana’s rising market activity, while Ethereum’s relative stability reflects its entrenched market dominance.
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