As the market progresses towards an aggressive bull market, smart investors are buying emerging small-cap gems that can turn into large-cap. Cardano (ADA) founder has kept DTX Exchange on the list as one of the potential competitors of Cardano. DTX Exchange has become the favorite of institutional investors in the past few weeks due to its unique platform infrastructure and high growth momentum.
Cardano (ADA) Faces Selling Pressure Amid Market Turbulence
Cardano has been an outperformer in the recent bull swing. After the breakout on 6th November, ADA rose over 200%, reaching a peak of $1.32. However, in the last three sessions, Cardano has faced some selling pressure as it has corrected 11%, retesting the previous breakout zone. ADA has stabilized well above the short-term moving average of 10 days, showing short-term price support.
The relative strength index of Cardano is currently trading at 77, which is above the overbought zone of 70. Due to overvaluation, ADA may see more corrections in the coming days. If Cardano breaks the local support zones, the $1 psychological level will be the most important level to watch.
Recently, Cardano successfully conducted a Doom tournament, in which the main prize was 100,000, to promote its Hydra protocol. The event was a great success; the network peaked at 1.04 million transactions per second (TPS). The Hydra protocol, one of the features of Cardano’s Layer 2 system, effectively does transactions off-chain, increasing the speed of transactions and smart contracts.
DTX Exchange: Trade, Invest, Generate Passive Income!
Despite recent technological advancements, the DeFi space still lacks significant players capable of creating impactful innovations for the future. However, the upcoming launch of DTX Exchange can potentially address this gap in DeFi.
DTX is the first hybrid exchange that allows investors to trade and invest in over 13,000 assets. The best part is that you don’t need to switch platforms to trade cryptocurrencies, stocks, or forex, as DTX’s unified platform offers all these options in one place.
The DTX Exchange offers traders and investors an intriguing opportunity to generate passive income through its VIP Rebate Program. This program enables DTX token holders to receive a portion of the exchange’s fee revenue, with eligible community members earning up to 3% of the total revenue share. Unlike other platforms, DTX Exchange prioritizes its community by providing this unique opportunity for passive earnings.
The platform offers a range of innovative features, including distributed liquidity pools and non-custodial storage, to enhance security. With these advantages, DTX Exchange has emerged as the leading platform in its category.
During the sixth round of the presale, each DTX token cost $0.12. This undervalued price, mixed with future growth prospects, represents a promising investment opportunity.
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