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In the last 24 hours, Ripple (XRP) has been trading negatively, with the news that the cofounder has been spotted selling $40M worth of XRP. Ripple bulls were trying to build momentum, but the news has pushed them down again.
Meanwhile, the lack of buying in Dogecoin (DOGE) has made memecoin investors find new opportunities in the crypto market. Some DOGE whales are betting into the Layer-1 ecosystem DTX Exchange (DTX), challenging other exchanges with blockchain technology.
How Will the Action Of Ripple (XRP) Co-founder Affect the Price?
Ripple (XRP) Co-Founder Chris Larsen recently moved 50 million XRP from his wallet, drawing attention from the XRP crypto community. A few days later, the same wallet made four more transfers totaling 20 million XRP. This 70 million Ripple transfer, valued at around $41 million, marks Larsen’s first such activity from this wallet since 2013, fueling speculation about a potential sale on Binance.
When the Ripple first launched, Chris Larsen received 5.19 billion XRP tokens. While XRP’s price is far from its peak, Larsen’s estimated net worth still stands at $3.2 billion. Currently, XRP is trading at $0.5866, down in the last 24 hours, with a high of $0.59 and a low of $0.5828.
Institutional Investors Increasing Position In DTX Exchange (DTX)
With the recent recovery in the broader market, the DTX Exchange saw more inflows from some institutional investors, who, according to reports, added to their position in the coin. DTX Exchange is a new trading platform that is transforming traditional finance with unique features. With its hybrid model, passive income options, and increased buying capacity of up to 1000x, the platform attracts rapid user growth.
DTX provides a seamless mechanism for trading various market assets, such as cryptocurrencies, forex, CFDs, etc. It is also equipped with top-notch infrastructure and ultrafast connectivity that bring new life to transactions through the use of advanced tools.
Problems around high gas fees and lesser transaction speed, which are common in the old exchanges, are addressed by DTX as an alternative stream of income for market players. It is designed to use artificial intelligence and is built on the Ethereum blockchain.
All the investors who are interested in DTX can but the tokens at the current valuation of $0.06 issued in the third stage of its presale which is two times higher than the initial cost. Upon reaching the stage 4, the rate is predicted to be around $0.08, and the analysts are looking at 40-50x times surge after the coin is listed in the first CEX.
Recent Developments in DOGE
Dogecoin started the year with a bang, seeing a huge rise in market value for several reasons. Celebrity tweets and endorsements from business leaders like Elon Musk often boost the DOGE’s visibility and influence. Whenever Musk mentions Dogecoin, even indirectly, the market tends to react quickly, reinforcing Dogecoin’s unique place in the cryptocurrency world.
More businesses, especially in tech and retail, have begun accepting DOGE as payment. While its use has grown slowly, it’s been steady, adding to the DOGE’s credibility. This trend is expected to continue as more people become familiar with digital currencies.
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