Lately, the crypto market has been rattled by reports that two prominent institutions have sold substantial amounts of Ethereum (ETH) to exchanges, potentially signaling a downturn for the second-largest cryptocurrency. As uncertainty looms over ETH’s price trajectory, attention has started to shift toward other altcoins like broker-backed crypto prop firm FXGuys ($FXG) and Sui (SUI). Let’s see why!
Institutions Dump Ethereum: Is It Time to Shift Focus to Other Altcoins?
On September 28, 2024, On-chain data from Lookonchain revealed that Cumberland and ParaFi Capital, two well-known players in the crypto space, sent a combined total of over $45 million worth of ETH to Coinbase. These transactions have speculation about a potential ETH sell-off.
This substantial movement of ETH tokens has drawn parallels to a similar event in early August, when Jump Trading sold approximately $500 million worth of ETH, triggering a significant price correction. With the recent sell-off mirroring past institutional selling patterns, many are wondering if Ethereum’s future is as bright as it once seemed.
In the last two weeks, ETH made a notable 20% price increase, moving from $2,258 to $2,719. However, following the massive sell-offs on September 28, the tokens’ price dropped to $2,635. Now, the market is watching closely to see if there will be further negative effects on ETH’s price performance.
As ETH holders continue to sell their tokens, price projections for $FXG and SUI suggest it’s time to bag these tokens.
$FXG Raises $1 Million in a Week: Is This the Next Big Altcoin?
Recent developments have pushed $FXG to become one of the leading altcoins in the market after raising $1 million in just one week. The altcoin is gaining momentum in its ongoing presale, with over 40 million tokens sold.
Unlike its rivals, $FXG stands out with its unique blend of TradFi, DeFi, and PropFi and tangible real-life utility. Positioned as the backbone of FXGuys‘ robust ecosystem, $FXG empowers traders by giving them access to a variety of services, such as funding programs, advanced analytics, and social trading tools.
With a total supply of 835 million tokens on the Ethereum network, $FXG is designed to sustain its demand and value through its diverse utility.
The token is distributed across marketing, public sales, private rounds, funding programs, staking rewards, liquidity, and more, ensuring a fair and comprehensive distribution. The absence of buy and sell taxes further makes $FXG an attractive investment, offering flexibility for token holders.
$FXG’s public presale is currently in Stage 1, offering early investors the chance to acquire the token at a discount before it hits its presale price target. Currently priced at $0.03, the altcoin is set to rise to its launch price of $0.10, promising over 233% ROI for investors.
SUI’s Bullish Momentum Continues: What’s Next for the Altcoin?
SUI has emerged as one of the most promising tokens in recent weeks, experiencing an impressive 95% surge in just three weeks. The altcoin price moved from $0.87 to $1.70, catching the attention of investors and market analysts, who are eager to understand what’s fueling this price rally.
One of the clearest indicators of SUI’s growth is the significant increase in its Total Value Locked (TVL). Recent news shows that SUI’s TVL has soared to nearly $958.57 million, a 150% rise since late August 2024. This surge reflects growing interest in Sui’s ecosystem as more funds continue to flow into the platform.
As Sui continues to gain traction and attract active participation, experts are becoming bullish on the token’s future trajectory. Price projections suggest that SUI has the potential to hit $2 in November, making it one of the altcoins to watch ahead.
ETH’s Downturn: Is It the Time for $FXG and SUI to Shine as Better Altcoins?
While the recent ETH sell-offs raise significant concerns about its future, $FXG and SUI are emerging as promising altcoins. $FXG’s successful presale and unique blend of TradFi, DeFi, and PropFi make it a compelling choice, while SUI’s growing TVL and positive price action suggest a promising outlook.
$FXG, in particular, stands as a better alternative to Ethereum in your portfolio as the token is on its way to pump through various presale stages. What’s more, analysts are bullish on its growth prospects after its launch on various exchanges.
To find out more about FXGuys follow the links below:
Website | Whitepaper | Socials | Audit
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