Since the market reached $2 trillion, interest in cryptocurrency has grown! In a really positive environment, the cryptocurrency market has undergone a huge increase, with its total market value reaching $2.03 trillion. As a result, many traders are racing to enterprises with significant development potential.
One such initiative is the DTX Exchange (DTX), which has already raised over $2.6 million in the presale. Even holders of Ripple (XRP) and Fantom (FTM) are interested in it because it has already provided a significant return to early investors.
Here, we will talk about why this DeFi cryptocurrency will rank in the top 10 and overtake other cryptocurrencies like Fantom (FTM) and Ripple (XRP) in this post.
Coinbase Declared XRP as a Currency to Store Assets
As of Coinbase’s classification, XRP and Shiba Inu are currencies that are particularly designed to function as money or stores of value.
This occurs when the XRP community is debating whether or not the coin is regulated. As previously reported, the presenter of the Good Morning Crypto podcast, Abdullah Nassif, questioned if XRP was now officially acknowledged as money.
In response to remarks made by Wall Street analyst Linda P. Jones, who claimed that XRP was being treated as a virtual currency by a U.S. federal agency prior to the SEC v. Ripple litigation, he posed the question.
In 2015, the Financial Crimes Enforcement Network (FinCEN) of the United States referred to XRP as a virtual currency and fined Ripple $700,000 for violating the Bank Secrecy Act.
XRP is Near to Completing the Head and Shoulder Pattern
On the daily chart, analysts noted that The head and shoulder pattern was almost complete, indicating that a significant price move may be on the horizon.
For Ripple (XRP), a bullish head and shoulders is expected to end. Many users believe that this technical arrangement is an effective reversal indication.
The completion of this may indicate that the present consolidation period is coming to an end and that a new rally in Ripple (XRP) is about to begin.
Much discussion surrounds the potential that Ripple’s (XRP) price may soon rise above $1. XRP is currently trading at about $0.58 after stabilizing throughout this potential rise.
Fantom Leads the Surge After the Interest Rate Cut Announcement
The much-awaited reduction in Federal Reserve interest rates was announced yesterday. The Federal Reserve cut interest rates by 50 basis points on Wednesday, which was the first rate decrease since 2020.
The announcement sent a pleasant ripple across the Bitcoin market, making several cryptocurrencies optimistic—a number of coins, including Fantom (FTM).
Fantom (FTM) had a surge of more than 14% in the most recent day after the news, continuing its strong upward trend from the preceding four days.
Additionally, as Fantom’s (FTM) network prepares to shift to Sonic Labs, web3 traffic is increasing on the network. According to recent statistics, Fantom has about $102 million in total value locked (TVL) and over $339 million in stablecoins.
DTX Exchange is Making Way to Become In Top 10
As the first hybrid exchange using blockchain technology, DTX Exchange combines decentralized and controlled exchanges into one location. A recent analysis from a business stated that they believe there is over 3000% upside potential for DTX from its present $0.06 price to $2.07.
The core component of DTX Exchange’s platform will be the freshly launched L1 blockchain. It seeks to provide a hybrid trading system with quick transactions, complete anonymity, and no KYC sign-up requirements.
Major networks such as Gemini have shown interest in the exchange because of its commitment to using blockchain technology to facilitate global market participation, which has promise for significant growth.
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