6 months ago
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During the recent dip, crypto whales have made big moves in the market, shifting millions to projects with strong fundamentals and long-term potential. Ethereum and Cardano whales recently bought $1.3 million worth of DTX tokens at $0.16 in the last presale stage. This move occurred due to the poor performance of the Ethereum price and ADA’s major drawdown.
The hybrid altcoin DTX Exchange (DTX) has been making noise due to exceptional performance in its token presale. The presale, which is expected to conclude in the next few weeks, has raised $13.95 million so far. DTX Exchange aims to disrupt the current financial market by combining blockchain technology with its hybrid trading platform.
Ethereum Price Fails to Follow Through After Breakout
The Ethereum price is hovering near the $2,600 support level, and it has been unable to follow through on Wednesday’s declining wedge pattern breakout. The rejection occurred from the 10-period SMA, which led to a decline of 2.71%. After the CPI surprise, the Ethereum price dropped from the day high to a low of $2,666. The weekly chart shows a decline of 5.89%, while the trading volume has increased by 40.31%.
Courtesy: TradingView
The lower time frame analysis shows that the Ethereum price could reach the next trendline and support of $2,565 before any buying activity occurs. Analysts predict that if it fails to reach the key support of $2,500, the next stop will be $2,200, which is multi-year support. In a bullish scenario, the Ethereum price might face resistance at the psychological levels of $2,800 and $3,000.
Additionally, the Ethereum price is feeling more pressure due to the increasing outflow from the ETH ETFs. According to reports, on January 12th, Ethereum ETFs saw a net outflow of $40.39 million, and Grayscale’s ETHE saw a major outflow of $30 million alone.
Grayscale Files For Cardano Spot ETFs
Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) through NYSE Arca to launch a spot Cardano exchange-traded fund (ETF). If approved, this would be Grayscale’s first standalone investment product for ADA, giving investors exposure to Cardano without needing to hold the cryptocurrency directly.
Many investors are now questioning whether Cardano can regain its momentum. In the last two months, ADA has declined by over 40%; however, the ETF filing adds some bullish outlook in the short term. Technical indicators suggest a possible reversal, but investors have continued to offload their Cardano holdings due to the prolonged correction and better opportunities available.
DTX Exchange Presale Near End Amid High Demand
DTX Exchange (DTX) has drawn massive attention as a Layer-1 trading solution, which, through its unique infrastructure and decentralized governance, could potentially enhance the overall trading experience. Due to its popularity among retail and institutional investors, DTX has over 650,000 unique holders. In its eighth and final presale round, DTX costs just $0.16.
DTX Exchange uniquely represents the best of centralized and decentralized exchanges in a unified platform. This approach makes it a one-stop platform for traders, offering 120,000+ financial assets such as cryptocurrency, ETFs, stocks, forex, and RWAs.
Focusing on security, DTX provides a non-custodial wallet that integrates multi-layer security and offers full access to users without any third-party interference. Additionally, early investors can benefit from its passive income program, which lets users earn up to 3% share of the exchange’s fee revenue.
Industry experts believe that DTX could lead the bull run in 2025, particularly after its listing at $0.20. DTX’s lower entry cost and revolutionary tools make it the best investment opportunity for investors seeking high growth.
Find out more information about DTX Exchange (DTX) by visiting the links below:
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