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Cryptocurrency has emerged from the long-term correction, and emerging projects are again soaring high with high growth visibility. DTX Exchange (DTX) is among the leading emerging projects. It is nearing the end of the presale and has been hugely successful, challenging giants like Ethereum and Cardano.
Meanwhile, The ETH price has bounced back above $2,500 with the constant inflow in spot Ethereum ETF. The same pattern has also been observed in ADA prices, with traders waiting for a potential breakout.
Spot Ethereum ETF Outflow Continues, Price Struggles In Bullish Market
Despite being the second-biggest cryptocurrency with a market cap of $317 billion, the ETH price is still lagging behind other relatively new altcoins that are hitting new highs. The ETH price has been recorded in the wedge formation since August, with the main level of resistance at $2,700.
The main reason for slowing the ETH price is the recent minimal response of the spot Ethereum ETFs. Recent data show that spot Ethereum ETFs hold 2,765,649 ETH, corresponding to $6.9 billion in value. However, during the last week of the trading terms, spot Ethereum ETFs were the worst-performing funds, depleting a net pool of 2,917 ETH, meaning a value drop of approximately—$ 7.3 million. Leading the outflows, the Grayscale Ethereum Trust, which holds the largest share with 1,604,967 ETH, recorded a significant withdrawal of 14,841 ETH last week.
Cardano (ADA) Rallies, But Can It Sustain?
Cardano, after forming a bottom on 25 October, has risen 15%. This surge came after the key bounce from key support of $0.317. Currently, the ADA price is trading below the major resistance of $0.368, which has been rejected several times in the last month.
ADA’s price remains trapped in a bearish pattern, with bulls struggling to break through resistance. Cardano is stuck between its 200-day and 50-day moving averages, which are strong support and resistance levels. A breakout from either could confirm a clear direction. Meanwhile, Cardano’s NVT ratio has spiked to its highest since June, signaling potential overvaluation as on-chain activity slows. This trend makes ADA’s recent struggles particularly noteworthy.
DTX Exchange Presale Crosses $6.3 Million, Creates Sensations With New Developments
DTX Exchange (DTX), the first hybrid exchange, is nearing the end of the presale as it scales rapidly for the launch. DTX has become the fastest presale, reaching fourth just under 6 weeks after the launch. This shows investors’ confidence and expectations towards the DTX platform’s future capabilities.
DTX Exchange aims to revolutionize traditional finance with its high-tech platform, which provides accessibility to various financial assets and instruments. As a user of the DTX platform, one can access conventional assets like stocks, forex, commodities, etc., and digital assets like cryptocurrencies and real-world assets (RWA). For traders, DTX Exchange provides 1,000X leverage, which helps them increase their overall P&L.
Also, the soon-launching Phoenix Wallet will give investors a new way to hold stocks and forex assets through decentralized storage. This first-of-its-kind tool will shake up the industry, helping traditional traders get the most out of their assets. As the ETH price is still struggling, DTX will soon compete with the leader.
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