As Bitcoin gears up for its next anticipated bull cycle, decentralized exchange (DEX) coins are capturing the attention of investors, as DEXs are on the rise and becoming a growing threat to centralized exchanges (CEX).
ChangeNOW CMO Pauline Shangett commented on the current DEX trading volumes:
“For the first time since late 2021, monthly DEX volumes crossed $250 billion in both March and June, highlighting a marked increase in activity. Currently, decentralized exchanges represent a meaningful percentage of spot trading volume compared to centralized exchanges, with more than $100 million out of every billion traded now handled on DEXs.”
So, November 2024 may see a surge in specific DEX coins, which stand to benefit from Bitcoin’s upward momentum and a growing interest in DeFi. Here, we explore four promising DEX coins that analysts believe are set to gain traction alongside Bitcoin’s market rally, presenting exciting opportunities for investors seeking growth in the DeFi space.
Husky Inu (HINU): The Next Big Dog in Crypt
Husky Inu (HINU) burst into the crypto world with big ambitions, setting its sights on dog-themed crypto heavyweights like Dogecoin and its sidekick, Shiba Inu. With its innovative Earn App and Decentralized Exchange (DEX) on the way, Husky Inu aims to keep users engaged and rewarded. The upcoming Earn App will enable users to earn $HINU tokens simply by interacting with the platform, while the DEX will facilitate seamless, decentralized trading – boosting both utility and value for HINU holders.
Powered by the Solana ecosystem, Husky Inu is committed to creating a high-utility token ecosystem, one that’s designed to give back to its community through exciting features and rewards. Its presale has been a success story in itself, with the first stage selling out in mere days, the second following suit, and the third stage now underway. To date, Husky Inu has generated over $471,000 in its presale, highlighting the enthusiasm around this project and its potential.
Husky Inu’s unique approach sets it apart in the crypto scene. With a limited total supply of 100 billion tokens and a deflationary mechanism that uses 50% of platform fees to buy back and burn tokens, HINU aims to retain long-term value. It also brings investors a fresh opportunity with modest presale prices and a capped supply model. Further setting it apart is its charity voting feature, where 5% of the HINU supply is earmarked for community-voted charitable causes, along with Solana-powered fast and low-cost transactions.
Uniswap (UNI): Holding Strong in DeFi as Price Fluctuations Persist
Uniswap (UNI), a top decentralized exchange on the Ethereum blockchain, enables seamless token swaps through an AMM system, where liquidity pools facilitate trades without traditional order books. Recent price movements show mixed signals, reflecting both growth and recent dips. Key technical indicators, including a neutral RSI and closely aligned moving averages, suggest potential sideways movement, indicating the market’s caution around UNI’s price direction. With UNI token holders granted governance rights to influence platform changes, Uniswap remains a pivotal player in DeFi, offering users control, a wide token selection, and substantial trading volumes despite price fluctuations.
dYdX (DYDX): Gaining Traction with Unique L1 and L2 Solutions
dYdX (DYDX) is gaining attention as it trades within a range that suggests potential upward momentum. With its unique L1 dYdX Chain and L2 dYdX V3 platforms, DYDX offers users fast and cost-effective transactions, powered by Cosmos SDK and StarkWare’s technology, respectively. Recent price movements show steady growth, with technical indicators like the moving averages and RSI hinting at a possible trend shift. If DYDX breaks its nearest resistance level, it could see a substantial rally, particularly as interest in altcoins heats up. Founded by Antonio Juliano in 2017, dYdX has pioneered innovations in decentralized trading, and its native token now operates on its own dYdX Chain, underscoring its commitment to independence and security. With altcoin season approaching, DYDX’s technology and market position make it a noteworthy contender in the current crypto cycle.
THORChain (RUNE): Driving Cross-Chain Liquidity with Strong Momentum
THORChain (RUNE) is designed to let users swap assets across various blockchains, including Bitcoin and Ethereum, while retaining full control over their holdings. Leveraging an AMM model, THORChain balances asset prices based on pool ratios, with its native token, RUNE, playing a critical role in governance, security, and as the protocol’s base currency. Participating nodes are required to stake a significant amount of RUNE, adding a layer of security to the network. Since its initial DEX offering in 2019 and mainnet launch in 2022, THORChain has gained considerable traction. RUNE’s recent performance shows signs of bullish momentum, with indicators pointing to possible upward movement, though investors should stay aware of key support levels in light of potential market shifts.
Conclusion
As Bitcoin’s bull cycle nears, DEX coins like Uniswap (UNI), dYdX (DYDX), and THORChain (RUNE) are well-positioned for potential gains, riding the growing momentum in DeFi. Uniswap leads with resilient trading volumes, dYdX attracts attention with its L1 and L2 solutions, and THORChain enables cross-chain asset swaps. However, Husky Inu (HINU) stands out as the most promising contender, offering Solana-backed speed, community-focused features, and strong presale success, positioning it for notable growth in the altcoin market.
Visit The Following Links For More Information On Husky Inu
Website: Husky Inu Official Website
Twitter: Husky Inu Twitter
Telegram: Husky Inu Telegram
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
