3 weeks ago
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In a surprising turn of events, DTX Exchange (DTX) has stolen the spotlight from Cardano (ADA) as its whales predict a potential profit rotation from the network. Attention has shifted to an emerging deFi platform, DTX Exchange (DTX,) which has raised over $9 million in its presale round 5 at $0.10 per token and is poised to raise millions in the coming months.
Cardano (ADA) Soars to 3-Year High After $276 Million Inflows
Cardano (ADA) has surged by double digits over the past week, reaching $1.15 — a price last seen in April 2022. This rally is fueled by reduced selloffs from long-term holders and increased accumulation by large investors. With growing bullish momentum, ADA could see further gains in the near term.
Cardano Long-Term Holders and Whales Move In
November’s 217% surge in Cardano’s price sparked the movement of previously dormant tokens, as reflected in its declining Mean Coin Age over the 30-day period. This metric measures the average “age” of all coins in an asset, weighted by their holding duration. When it declines, it suggests increased on-chain activity, as previously idle coins are being spent or transferred, mostly for profit.
However, over the past week, this trend has shifted. Per Santiment, ADA’s Mean Coin Age has been in an upward trend, indicating network accumulation. This reduced selloff from ADA long-term holders has led to a 10% rise in value in the past seven days. Additionally, ADA whales or large investors have increased their holdings during the period in review.
On-chain data shows that ADA addresses holding between 100 million and 1 billion coins have collectively acquired $276 million worth of ADA over the past seven days. When whales increase their holdings, it signals confidence in the asset’s future price movement, potentially driving further market demand.
Cardano (ADA) Price Prediction
On a daily chart, Cardano’s Elder-Ray Index confirms the bullish bias toward the altcoin. At press time, the indicator’s value is 0.31. This measures the strength of a trend by comparing the buying and selling pressure in the market. When it is positive, it indicates that buying pressure outweighs selling pressure, suggesting a bullish market trend.
If this trend continues, ADA will extend its gains and climb toward $1.30, a price it last traded at in January 2022. On the other hand, an uptick in coin distribution will cause a decline to $1.09. Should the bulls fail to defend this price level, the Cardano coin price value will slip under $1 to trade at $0.92.
Investors Ditch Cardano (ADA) For DTX Exchange (DTX)
The emerging deFi platform DTX Exchange (DTX) has gone viral for its highly rewarding and trader-centric approach to crypto trading. DTX Exchange (DTX) allows its token holders to use their tokens to pay for trading fees on the platform. By using DTX Tokens to cover trading fees, users can benefit from discounted fees, which encourages active participation in the network.
Certain advanced features and services on the DTX Exchange may require users to hold a specific amount of DTX Tokens. Holding a predetermined number of tokens grants users access to premium features like enhanced analytics, priority customer support, and more. Additionally, users also put DTX Exchange (DTX) as their primary for its lightning-fast execution speeds.
DTX Exchange (DTX) Steals the Spotlight With Massive Rewards
The DTX Exchange (DTX) rewards active participants with loyalty incentives in the form of DTX Tokens. Regular traders and users who engage with the platform may receive rewards, encouraging continued engagement. DTX Token holders have the opportunity to stake their tokens to participate in the platform’s governance.
By staking their tokens, users gain voting power in key decision-making processes, shaping the future developments and direction of the DTX Exchange. As Cardano (ADA) whales predict potentially new highs for this deFi network, investors increasingly move in to claim lucrative opportunities and enticing benefits as the market advances to 2025. Join now!
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*This article was paid for. Cryptonomist did not write the article or test the platform.
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