According to crypto analysts, Ethereum could overshadow Solana. Solana has been trading in consolidation for over 3 months, and currently, the price is trading at the $137.90 level at the time of writing. However, amid the Ethereum ETF news, the ETH price is stronger than SOL. 

While the fight between Ethereum and Solana continues, Arbitrum is showing strong momentum; Arbitrum, an ETH layer 2, is up more than 7% today. Another ERC 20 token DTX Exchange is showing extremely bullish sentiments.

Solana Signaling Bearishness in the Price

Solana has taken a bounce from the important support level $125 support level. It is looking hard for Solana to sustain its $125 level, as it is trading below its short-term moving averages like 50 DMA. If the price fails to sustain the $125 support level, the next destination for the price could be $99.

Fearing more downtrends in Solana, investors are booking their positions and making new positions in ERC 20 tokens as the ETH price shows bullishness. One of the ERC 20 tokens that is showing a huge inflow is the new DeFi trading platform DTX Exchange. We will talk about DTX Exchange in detail in the later part of this article.

Ethereum ETF Launch Could Be Big For the Crypto Community

The crypto community expects the launch of ETH ETFs (exchange-traded funds) to be a significant event. The Securities and Exchange Commission approved eight Ethereum ETFs last month, and they are set to debut on July 2.

Although there is some uncertainty about the reception of the Ethereum ETFs, if they attract 10-20% of the investment that BTC ETFs saw, the ETH price could rise above $4,000. Currently, at $3,380, the ETH price could see an approximate 20% increase if it reaches $4,000.

While some investors anticipate a rise in the ETH price following the Ethereum ETF launch, others hesitate and are diversifying into other potential coins.

Arbitrum Showing Price Momentum

Arbitrum’s RSI has just made an undercut in the oversold region, gaining more than 7% in a day. Arbitrum has now traded above the 10-day moving average, showing short-term bullishness in the token. Arbitrum is a Layer 2 scaling solution for Ethereum that makes transactions faster and more efficient. Arbitrum reduces congestion on the main Ethereum blockchain by handling much of the computational work separately. This means lower transaction fees and quicker interactions with decentralized applications (dApps) and smart contracts, making the whole process more cost-effective for users.

ERC-20 Token DTX Exchange is Set to Lead the Exchange Space

Amid the speculation on Ethereum ETFs, investors are pouring money into the new ERC 20 token DTX Exchange. DTX Exchange is a crypto trading platform set to revolutionize the trading industry. It offers a diverse range of assets, including cryptocurrencies, contract-for-differences (CFDs), foreign exchange (FX), and equities, giving traders plenty of options to diversify their portfolios.

The platform’s native utility token, DTX, operates on the ERC-20 protocol. This token plays a crucial role in the platform’s operations and governance, granting token holders voting rights to influence major decisions such as protocol changes and platform updates.

In the second stage of the presale, the token price stands at $0.04. Upon its launch, the expected price is $0.12, representing a 300% increase. Analysts forecast that the DTX Exchange token could reach $1 by the end of 2024, potentially creating substantial wealth for investors.

Click here to visit the presale.

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