Ethereum (ETH) has faced unprecedented short-selling from hedge funds. Notably, Ethereum short positions have increased by 500% since November 2024, highlighting bearish sentiment toward the large-cap altcoin. While CoinGlass data showcases a negative trend over the past few days, recent market shifts indicate that the Solana price is on the verge of a turnaround. Notably, Solana has witnessed a notable spot inflow, a sign of positive changes among buyers.
Amid Solana's growing optimism, DTX Exchange (DTX) has emerged with a new trading concept that stands out in this market. The project has launched a hybrid trading protocol combining the best CEX and DEX features in one place. With over 500K users onboarded already, interest is clear. Industry insiders think this altcoin has the potential to follow in the footsteps of early Solana and Ethereum price bullish trajectories.
Per Kobeissi's Letter post shared on X, the Ethereum price has seen mounting challenges as short positions have recently increased. Ideally, Ethereum short positions have seen an uptick of 40% in the past week and are up 500% in the last three months. This is the highest level ever that Wall Street funds have been short of Ethereum. Earlier this month, the Ethereum price crashed by 37%, influenced by external macroeconomic headwinds.
While capital inflows in Ethereum ETFs were significantly high in December 2024, the hedge funds' positioning on ETH altcoin indicates that investors are not very confident in the crypto's short-term price outlook. The expert attributed Ethereum's current lackluster price performance to potential market manipulation, a bearish outlook on Ethereum itself, and harmless crypto hedges. However, market participants suggest this excessive bearish outlook could set the Ethereum price for a short squeeze.
A short squeeze on the Ethereum price could push it towards the $3,000 or even the $4,000 level. However, per Ali Charts' insights, the Ethereum price must defend the $2,600 support level to trigger a climb higher. Recent reports highlight that the Ethereum price has bottomed, setting the stage for a trend reversal to the upside. Meanwhile, Steno Research has suggested that the Ethereum price will likely outperform BTC in 2025, with a potential target as high as $8,000. Despite that, concerns remain regarding the Ethereum Foundation regularly dumping ETH tokens.
On-chain data indicate that Solana's spot market inflows have hit $16 million, marking its first massive inflow in 10 days. This is a clear sign of renewed interest from investors. Typically, spot inflows are estimated when investors buy an asset at its current market price, indicating confidence in SOL coin and are willing to buy it at the current price, triggering upward movements. Moreover, Solana's Balance of Power (BoP) indicator has showcased signs of strengths.
Standing at around 0.23, the BoP suggests that the buying pressure is growing more than the selling pressure. Meanwhile, the Solana price is testing the critical support level at the bottom of an upward trend, which the altcoin has been following for months. If the Solana price stays above this support, it could trigger an upward trend. This would in turn lead to more buying trades and likely push the Solana price toward the $258.66 level.
However, if the Solana price drops below this support, the upside trend will be invalidated. It could set the stage for a price drop toward the $113.88 level. Market participants closely monitor key critical levels as the Solana price fights to maintain its upward trend. Solana's recent growth and renewed investor interest are part of a larger crypto trend. Bitcoin price performance often helps boost optimism for altcoins like Solana.
The recent presale performance of DTX Exchange (DTX) has been impressive. DTX has attracted investors from major cryptocurrencies like SOL and ETH, raising more than $13.70 million in funding, and delivered a 700% return, thanks to its hybrid exchange protocol, which aims to redefine the trading market by merging the finest aspects of CEX and DEX. Ideally, DTX's architecture supports fast-lightening transactions characteristic of CEXs but has incorporated essential DEX features like decentralization, creating a user-oriented and secure platform.
Unlike other exchanges, DTX Exchange has eliminated KYC verification requirements enabling traders to trade anonymously. With CEX efficiency and DEX autonomy, DTX offers a rare opportunity to trade over 120,000 financial instruments, including stocks, cryptocurrencies, ETFs, bonds, and forex. This allows users to trade various markets in a single unified interface. A fast transaction speed of just 0.04 seconds has also made DTX a fan favorite.
Its focus on accessibility which enables retail traders to participate equally alongside institutions, has added to its appeal. Priced at $0.16 during its eighth presale stage and an expected rise to $0.20 once listed, early participants joining the DTX revolution could now experience an early 25% return. Meanwhile, presale holders have already enjoyed a 700% return. Industry insiders consider DTX's growth trajectory promising, especially when compared to the early stages of projects like SOL and ETH.
On-chain metrics indicate that DTX wallets could grow faster than ETH and SOL network growth during their early years. While this is hypothetical, the pattern suggests that DTX could mirror or exceed the adoption carves of established tokens. Meanwhile, as the Ethereum and Solana prices flutter, they've retained loyal communities. Whether DTX becomes the best crypto to watch in 2025 may depend on how effectively it leverages its hybrid model to meet trader demands. For now, the DTX presale performance offers a compelling case worth considering.
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