DeFi
Expert Says This New DeFi Exchange Could Challenge XRP and LTC With Innovative Features and $750,000 Raised » The Merkle News
Ripple is expected to issue approximately 1 billion XRP tokens, estimated to be worth $470 million, on July 1. The upcoming transaction is expected to cause the price of XRP to drop.
According to historical data, Ripple has used its escrow cash to unlock a billion tokens every month since 2017.
Analysis of the Litecoin (LTC) market paints a mixed picture. Its blockchain activity surpasses that of Bitcoin and Ethereum, but Litecoin’s (LTC) financial performance lags behind despite its increased activity. It fails to reflect the impressive gains achieved by Bitcoin and Ethereum.
DTX Exchange challenges the rising price of XRP and LTC blockchain business with its innovative features. The platform’s pre-sale fundraising reached nearly $750,000 during the second stage of its pre-sale.
Ripple Unlocks Billions of XRP Tokens: XRP Price Faces Drop
The upcoming release of XRP tokens involves two separate releases. The first release comes from the “Ripple (24)” escrow consisting of 100 million and 400 million tokens, and an additional 500 million tokens comes from the “Ripple (25)” escrow.
This follows the release of 1 billion XRP from the same deposits on June 1. Ripple then allocated 200 million tokens for operational purposes and locked the rest in a depository that is set to open in September 2027. Additionally, 200 million XRP has been set aside for sales, marking the largest monthly sale to date at 400 million tokens.
The influx of newly launched tokens led to increased selling pressure on XRP. Only five out of fourteen sell-offs resulted in positive price action. XRP price suffered through Q3 2024, with a few exceptions. XRP price has been on a downward trend, highlighted by negative monthly outlooks in four of the first six months. The June 1 unlock also caused XRP prices to decline.
Litecoin (LTC) Leads Blockchain Activity But Suffers From Market Performance
Despite a vibrant and growing user base, Litecoin (LTC) is overshadowed by emerging projects like DTX Exchange. Despite everything, LTC continues to demonstrate solid commitment within its network.
Coingecko shows that although Bitcoin and Ethereum have risen significantly – by 103% and 78%, respectively – LTC has fallen by around 20% since the start of the year. The reasons for Litecoin’s (LTC) strong trading activity, in contrast to its lagging price performance, are called into question by this divergence.
The discrepancy between Litecoin (LTC) market value and blockchain activity is an intriguing oddity. Several factors can be attributed to this state of affairs, such as investor behavior, market sentiment and perhaps the usefulness of Litecoin (LTC) as a transactional currency rather than just a speculative asset.
The fact that Litecoin (LTC) is designed to be a faster, lighter alternative to Bitcoin may be a factor in its increased usage rates, especially for smaller, more frequent transactions.
DTX Exchange becomes invincible thanks to its presale increase and innovative features
DTX Exchange continues to outperform major giants in the crypto space due to its innovative features. The platform is becoming a tsunami in the crypto space with its hybrid trading model, non-custodial wallets, distributed liquidity pools, and 18,000 TPS speed. The trading platform protects user data by adhering to strict privacy policies and implementing robust security measures to thwart potential attacks.
The trading platform sent shivers down the crypto space by raising around $750,000 at the start of its Phase 2 presale. It received massive support from investors who easily snapped up the token at $0.04. The current price of the token looks very promising, considering its ROI.
In addition to saving money on trading fees, holders gain access to exclusive features. With the release of VulcanX, gas fees have been removed. Potential airdrops are also available for DTX token holders. An additional element that attracts investors to DTX is the impending announcement of a giveaway.
Key takeaways
The price of XRP is expected to fall following the upcoming release of the tokens by Ripple. Litecoin (LTC) fails to perform well in the bull run despite strong blockchain activity. DTX Exchange, however, is defying downward trends by raising around $750,000 during its presale.
Learn more:
Disclosure: This is a sponsored press release. Please do your research before purchasing any cryptocurrency or investing in any project. Read full disclosure here.