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The major shift in the market in the new rally is the change in sentiment towards utility coins. Meme king Dogecoin (DOGE) failed to sustain the previous breakout; however, leading utility coins like Ripple and DTX Exchange have continued the momentum despite the broader market weakness.
The optimism of the XRP ETF helped the Ripple price reach a new all-time high despite a parabolic move in the last few months. Meanwhile, DTX Exchange has achieved another milestone, surpassing the $12 million mark, and is nearing selling out the seventh stage. According to industry experts, DTX is well-positioned to become the next big thing in the market.
Dogecoin (DOGE) Retraces Back Inside the Base
During last week’s crypto momentum, Dogecoin (DOGE) attempted to break the descending wedge pattern. However, due to the sell-off, it failed to follow through and has fallen back into the pattern. The price of Dogecoin has also undercut the 50-period moving average, indicating bearish strength.
Courtesy: TradingView
Dogecoin is trading at $0.38 and has experienced volatile movement in the last day. With this rejection, Dogecoin has formed double tops, which is a reversal pattern. If broken, $0.32 is a threshold level that can start the downtrend. The $0.40 psychological level is a major resistance for the Dogecoin price.
Ripple’s Massive Week: XRP ETF Speculations Increases Excitement
Ripple’s consolidation started in December and lasted until 11 January, when it emerged and formed a new bullish trend. The price of Ripple has grown by 20% within the last seven days, and as such, it has been trading above the support level of $3. Since Donald Trump was elected president in November, the focus on Ripple and the XRP ETF has grown.
On Tuesday, Ripple’s President Monica Long shared in a Bloomberg interview that an XRP ETF may soon become real as its approval in the United States is on the horizon, thanks to favorable U.S. crypto regulations that support local businesses. Analysts at JPMorgan Chase & Co. estimate that these proposed XRP ETF funds, which include alternative cryptocurrencies, could bring in inflows of $4–$8 billion.
DTX Exchange’s Trading Revolution: Redefining Asset Investment
DTX Exchange stands out in the exchange sector because of its unique platform structure and innovative offerings. Its VulcanX hybrid blockchain simplifies multi-asset trading by combining the best of CEX and DEX in a single platform. Due to this hybrid structure, DTX Exchange provides over 120,000 financial assets, including crypto, stocks, forex, bonds, and ETFs.
This becomes much more interesting with the platform’s 1,000X leverage, which enhances $100 liquidity to $100,000. Furthermore, the recent introduction of Phoenix Wallet increased crypto enthusiast's interest and became an instant hit with experts labeling it the best DeFi wallet.
DTX Exchange does not require users to undergo a KYC check, preserving their anonymity and protecting them from identity threats. SolidProof has conducted a strict KYC check on the platform to increase the project's credibility and transparency. The token is also already listed on Coinmarketcap.
Due to its rapid scale and development, DTX Exchange is immensely attracting investors from different communities, and its presale success is proof of this. In the 7th stage of the presale, DTX has raised $12.10 million, and the current stage is already 88% sold out. The 100% bonus offer on all tokens in the 7th stage has significantly increased demand.
For investors seeking long-term growth, the time to act is now. DTX Exchange’s presale and unique platform present an unparalleled opportunity.
Find out more information about DTX Exchange (DTX) by visiting the links below:
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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