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The crypto market saw significant declines, with Ripple and Avalanche falling under selling pressure, but DTX Exchange shines, raising over $2.4 million in its presale.
The crypto market plummeted, with many altcoins retesting levels last seen before the March pump. Ripple and Avalanche trade on the downside amid intensified selling pressure. Nevertheless, a comeback is on the cards, making them good cryptos to buy at the massively discounted price.
Meanwhile, DTX Exchange, a new hybrid exchange protocol, hit $2.4 million in presale. Rising whale interest and activity can be linked to this surge in early funds, which serves as a vote of confidence in its potential.
DTX Exchange: Over $2.4m in raised funds
DTX Exchange has been turning heads in the investment town, inching closer to $2.5 million in its ongoing presale. This success is a testament to its unique offering and growing retail and whale interest. Set to reshape the $3.2 billion global trading market, it has been hailed as the next big thing.
The trading platform combines key elements of centralized and decentralized exchanges, aiming to address critical challenges like low liquidity, lack of diverse asset classes and financial exclusion.
Its hybrid Layer-1 blockchain went live earlier this week, poised to integrate traditional financial instruments with web3 products. This growing whale interest isn’t surprising given its novelty, with the ongoing presale offering the best opportunity to become early adopters.
A token costs $0.06 in the third round of the ICO. Analysts project a 55x uptick after its market debut, making it an altcoin to watch ahead of established players like XRP and Avalanche.
Ripple: Down 2% on the weekly chart
Ripple, a payment-based cryptocurrency, is among the popular names in the crypto space. It made headlines for the most part this year, even if it was due to the legal battle with the US SEC. With a final judgment given by the court and its regulatory landscape becoming clearer, confidence has returned.
However, its performance in the past few weeks has been underwhelming. On the weekly chart, the XRP price tumbled 2%, down from a high of $0.57 to $0.55. With the decline part of a broader market downturn, a bounce will push it back to the upside.
In recent news, Japanese crypto exchange CoinCheck announced support for XRP, alongside five other altcoins. An XRP price prediction suggests a jump past $0.8 before the month’s end, placing it on investors’ radars.
Avalanche: Tumbled from a weekly peak of $24
Avalanche, a Layer-1 blockchain for dApps, popular for its scalability and high transaction output, is at the forefront of decentralized finance. Its innovative solutions make it one of the most frequented destinations, contributing to the demand for the AVAX token.
However, like the rest of the crypto market, it trades on the downside. The Avalanche crypto has lost over 5% gains in the past seven days, tumbling from a weekly peak of $24 to $21. This significant decline can be linked to the worrying price actions in the wider crypto market.
But with a bounce unfolding, Avalanche coin resumes its run, although sustained traction isn’t guaranteed. A bearish forecast suggests another drop below $20 but its long-term outlook is nonetheless promising.
Conclusion
The crypto market’s decline is evident in the underwhelming price actions of XRP and Avalanche. Meanwhile, DTX Exchange jumped past $2.4 million in presale amid growing whale interest.
To learn more about DTX, visit the presale website, the official DTX website and join the DTX community.
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