Missing out on a highly prospective crypto asset below the $1 mark is often not the best story to tell in today’s crypto world. This, among other reasons, typically drives savvy market players to seek the next big crypto opportunity especially in the presale market. At the forefront of this chase, fast rising pre-sale star– Elluminex (ELX) stands out because of its unique use case.
Set to transform the TON blockchain just like Uniswap did to Ethereum, and Trader Joe to Avalanche, the Elluminex DeFi hub ultimately aims to expand access to DeFi to more users. This puts the presale star in line for a meteoric surge, potentially hitting the $1 mark in record time compared to top altcoins like Avalanche (AVAX) and Binance (BNB).
What’s more striking about Elluminex (ELX) is not its potential to realize an exponential surge when it eventually launches on the mainstream market due to the transformative role it intends to play on the TON blockchain. Rather, the Elluminex network is a unified DeFi hub which implies that it caters to a broad range of DeFi needs ranging from crypto transaction, to swapping, staking, and more importantly, offers early access to pre-launched TON projects.
Far more than its DEX capabilities, the Elluminex network also functions as a cross-chain bridge for TON projects, and as such aims to enhance liquidity and trading opportunities significantly across multiple chain networks. These, coupled with other features including a dedicated academy to promote DeFi literacy, and a robust token burn mechanism set Elluminex apart from its peers.
Meanwhile, having just commenced its ICO phase recently, Elluminex is already regarded as one of the top DeFi projects with enormous unrealized potential. This claim has contributed significantly to its rapid presale progression. Given the increasing investors’ interest coupled with its strategic positioning on TON network, Elluminex’s native token– $ELX is primed to reach significant heights, and surge far more than its current price of $0.06.
After trading above the $700 price mark for most part of December and the first week of January, Binance (BNB) price has slipped below the crucial level and is now consolidating within a weekly range of $714 and $686. The recent price retracement has resulted in a roughly 4% decline in the past week and about 3% in the past month.
Although the reason for the recent price action can be attributed to a lot of factors, a shift in market focus to trending meme coins like $TRUMP stands out. As such, many market participants believe that the current consolidation in BNB price is more of a minor setback than a major concern for token holders.
According to popular analyst Crypto Master, BNB coin has seen some major growth since it commenced its rally above the $400 price mark. While it has continued to seek liquidity on its way up, the recent retracement is another attempt, with a possible bottom reaching around $680 before it rebounds and potentially claims another ATH.
Similar to Binance, Avalanche (AVAX) price movement has also been met with a steep decline in the past week during which AVAX price fell from a weekly high above $41 to currently trade around the $35 price mark.
While it shares similar sentiment with Binance, and most top altcoins in the market, AVAX price reflects roughly 13% decline in the past month with the majority of the decline recorded in the past week. Regardless, AVAX token has continued to attract enormous support from its community, where 87% of about 50K CMC members voted in favor of a bullish trajectory.
Meanwhile, Avalanche token still maintains a generally bullish momentum considering it has managed to hold on to over 670% gain in the past year despite suffering a major decline. For context, AVAX price had fallen from a YTD peak level around $134 to trade below $10. The recent upsurge, although unexpected, has revitalized enthusiasts’ interest with many anticipating a potential rebound in AVAX price to higher levels.
While Binance and Avalanche are both established crypto projects leading the web 3 innovation, it is hard to compare them with a project like Elluminex. However, given its robust cross-chain capabilities, and innovative premarket feature, Elluminex stands a chance to compete for market dominance against this duo sooner or later.
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