In a surprising turn of events, where investors had projected Cardano (ADA) and Ripple (XRP) to rebound after a sharp decline, the altcoins have slumped even further, driving hesitance among investors. Amid the changing market outlook, the hybrid trading platform DTX Exchange is slowly becoming the talk of the town after it raised $2.5 million in its ongoing presale.
CEO Charles Hoskinson Breaks Silence About Cardano (ADA)
Trading at $0.33 today, Cardano (ADA) has dropped below critical levels in the past few days, causing a major outflow in the network. Its anticipated blockchain update, “Chang hard fork,” also failed to drive traffic to the Cardano (ADA) network, making investors grow more hesitant about the project and explore different avenues for growth.
The Chang hard fork update has integrated several features in the Cardano (ADA) blockchain. Its add-ons included Delegated Representatives (DReps). The Delegated Representatives work as key intermediaries, building communication channels between Cardano (ADA) holders and the network’s decision-making mechanisms.
Even though the long-awaited Chang hard fork update could bring back Cardano (ADA)’s long-lost market prominence, it did make the headlines for a matter of days and brought in some decent inflows to the network. As of September 5, Cardano (ADA) has surged by 5.19% in terms of its trading value, signaling a potential breakout.
Ripple (XRP) To Enter The ‘Death Cross’ Pattern?
Ripple (XRP) has also formed a similar sentiment to Cardano (ADA). It is now nearing the Death Cross pattern after its 50-day moving average crossed below the 200-day moving average. This pattern suggests that an altcoin is nearing increased selling pressure and a possible network crash.
Historically, when the 50-EMA and 200-EMA converge, they form a Death Cross pattern which, combined with other technical indicators, denotes a significant price decline. That being said, the 24-hour trading volume of Ripple (XRP) has dropped by 18.5% in the last 24 hours, roughly $159 million out of the total $886.6 million of the network’s trading volume.
If Ripple (XRP) overcomes the market pressure and shakes off the legal SEC history, there is a clear possibility of a comeback with stronger gains. However, in light of its recent price performance, Ripple (XRP) price has declined by 3.62% in the last 7 days with very slim chances of displaying a bounce back.
DTX Exchange Layer-1 Blockchain Launch Shakes The Market
DTX Exchange is driving massive inflows into its growing hybrid exchange after it successfully closed the presale round 2 with over $1.46 million. Skeptical investors from Cardano (ADA) and Ripple (XRP) are increasingly moving towards this DeFi house as it began its presale round 3 at $0.06 per token and has already raised over $2.5 million.
The DTX Exchange has gone viral after its Testnet launch hit the internet. The traders and developers have driven a bullish wave to the exchange and pumped up its presale even more, displaying their confidence in the emerging hybrid platform. Given the current rally, the DTX Exchange is well prepared to hit $3 million within the next week.
DTX Exchange’s Fast-Growing Network Captures ADA Investors
Cardano (ADA) investors are driving massive outflows to the network to join the DTX Exchange and land huge profits. They’re seeking shelter in this robust platform after losing a massive amount of their capital with no signs of the Cardano (ADA) network reclaiming its long-lost market demand.
As the growing market sensation, DTX Exchange is set to launch its L1 blockchain in the next three days. With its current statistics accelerating off the charts, this next-gen hybrid trading platform has predictions from the leading crypto analysts to become the next Solana (SOL) in the market in 2024.
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