DeFi
DeFi Marvel DTX Exchange Expected to Surpass Avalanche and Chainlink in 2024
Bears are looking for two of the leading cryptocurrency coins, Chainlink and Avalanche, as they have lost some of their major gains. On the other hand, the majority of bull market altcoins continue to capitalize on the bullish sentiments that are currently pushing the market to new highs.
Conversely, DTX Exchange, a recently launched DeFi project, saw a large price increase from $0.02 in the first stage to $0.04 in the second stage. Analysts predict that it will have all the necessary components to become the next 100x token in 2024.
Chainlink struggles to surpass the $20 mark
Chainlink started to rise and even reached this level. Even though Ethereum ETFs were approved by the SEC, LINK’s gains failed to materialize despite optimism from analysts and cryptocurrency enthusiasts waiting for the rally to continue.
Despite this weak price movement, cryptocurrency analysts remain bullish on LINK. They believe that in the coming weeks, the value of Chainlink coin will increase by 300%. Chainlink’s technical indicators are currently in favor of the bulls, but if LINK fails to hold above the $16 support level, the market could move in a different direction.
Avalanche (AVAX) TVL stabilizes while active users decline
Avalanche attempts to use its three native chains to solve the blockchain trilemma. Dividing computational tasks in this chain allows for increased throughput without sacrificing decentralization.
Over the last seven days, 7,336,449 transactions were made using 2,065,1061 addresses under the Avalanche protocol. Over the past three months, the protocol’s total active address has increased from 205,297 to 95,788. The number of daily and monthly transactions of the protocol has decreased slightly over the past few weeks. Nearly 260,000 unique contracts have been deployed on the blockchain, a record.
Avalanche Protocol’s TVL has not improved since 2023. The protocol’s TVL currently stands at $860 million, down from its peak of $11.5 billion. The average income was $20,000, while the average amount of fees collected was $26,000. It is currently experiencing positive inflow, which could propel the protocol’s uptrend.
Avalanche price is currently forming tiny consolidation candles on the daily chart. It is trading below the 50 and 100 EMA. AVAX’s uptrend may end near $40. Meanwhile, Avalanche price is near $30 support. AVAX’s RSI is near 47 and unsloped, indicating that it is in the neutral zone. The overall momentum of the RSI is starting to stabilize.
DTX Exchange revolutionizes the DeFi space with its huge gains
DTX Exchange, a trading platform, aims to establish a technologically advanced, secure and inclusive financial ecosystem. The platform seeks to create a future where everyone can benefit from blockchain technology and engage in international financial markets, regardless of their origin or geography.
The rapid rise of DTX presale, which raised over $620,000, becomes even more remarkable with the advancement of Stage 2. The value of DTX token in Stage 2 is $0.04 . During the next DTX presale period, each share will be sold at a price of $0.06. DTX’s new blockchain is attracting investor interest due to its colossal return potential.
Unlike conventional exchanges and other decentralized platforms, the DTX Exchange protocol has several advantages. High performance, non-custodial trading, security, transparency and global accessibility are some major advantages. An additional element that attracts investors to DTX is the impending announcement of a giveaway.
Key takeaways
- DTX’s huge presale has proven to be a game-changer in the DeFi space.
- Analysts predict the platform will soon overtake Chainlink (LINK) and Avalanche (AVAX)
- Chainlink is struggling with its price movements.
- AVAX is facing a decline in the number of active users.
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