Solana and Cardano Eye Major Breakout; Whales Bet on This New Hybrid Exchange Protocol
The post Solana and Cardano Eye Major Breakout; Whales Bet on This New Hybrid Exchange Protocol appeared first on Coinpedia Fintech News
September is historically bearish and just a few days into the month, the crypto market is red. Bitcoin (BTC) fell below $57,000 and altcoins plummeted. However, with this cycle different from past ones, considering the rise of crypto ETFs and the BTC halving, sentiment might turn bullish. Hence, indicators hint at a Solana (SOL) and Cardano (ADA) breakout.
At the same time, whales have been betting on DTX Exchange (DTX), a novel altcoin at the crossroads between DEX and CEX—a hybrid exchange protocol. Its novelty and blend of DeFi and TradFi place it on the list of this year’s breakout stars.
DTX Exchange (DTX): Whales Push Presale Funds Past $2.3M
DTX Exchange (DTX), a novel altcoin stirring up much buzz, is the latest on whales’ radars. Its narrative is simple: reshape the $3.2 billion global trading market. By blending the best elements of centralized and decentralized exchanges, it will build a hybrid exchange protocol set to take on the trading world.
One of the most critical challenges traders and conventional trading platforms face is the lack of diverse asset classes. Rising to the challenge, its one-stop platform will allow users to trade assets across TradFi and DeFi, from stocks, bonds and forex to cryptocurrencies.
With adoption imminent, whales have been positioning themselves, contributing to the over $2.3 million in early funding. A token costs only $0.06 in the third round, while tipped for a 6,000% surge after listing on top exchanges. To make the most of this year’s bull run, it is an altcoin to bet on ahead of Solana and Cardano.
Solana (SOL): Anticipated Breakout Above $150
Solana (SOL), a DeFi powerhouse and one of the best altcoins, is among the most popular players in the crypto scene. Its rapidly growing ecosystem—a notable addition being Paypal USD—and competitive advantages like low costs and fast transaction speed put it at the forefront of decentralized finance.
However, its performance in the past few weeks has been underwhelming. The Solana price has been down by over 10% on the weekly chart, plummeting from a high of $146 to trading a little above $120. The $130 support has been finally breached, with many anticipating a cascading selloff below $100.
But top experts predict a bounce for the Solana crypto. It is set to break above $150 in the coming days or weeks, inching closer to its monthly high of $160. With the coming days set to be exciting, SOL is a token to keep on the radar.
Cardano (ADA): Potential Break Above $0.36 in the Coming Days
Cardano (ADA), another top altcoin, is a top-15 cryptocurrency by market capitalization. It is also at the forefront of DeFi, facilitating the creation of decentralized applications (dApps). Moreover, the recent Chang hard fork made it fully decentralized, allowing token holders to participate in on-chain governance.
However, like the rest of the crypto market, the Cardano price is on the downside. In the past week, 10% gains have been lost, as it trades a little above the $0.3 support. While a decline below this level might spell more doom, analysts predict a breakout.
A Cardano price prediction stirring hope suggests a jump above its monthly high of $0.36 before the week’s end. This will put it closer to $0.77, its annual peak, which experts believe it might flip before the end of Q3.
Conclusion
Despite trading on the downside, Solana and Cardano are tipped for a breakout. At the same time, whales have been flocking into the DTX Exchange presale. Its impending transformation of the global trading scene and astounding growth prospects make it a must-have.
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