Solana is one of the top altcoins projected for massive rallies soon. As the favorite blockchain for developers, Solana has become a center of attraction in the past months due to its faster transaction processing and cheap fees. The recent big move, which saw the Solana price flip its ATH, has rekindled investors' interest in the altcoin, with some projecting a rise to $1k soon.
However, Solana's dominance could decline in the coming weeks with the emergence of the Elluminex (ELX), an all-in-one DeFi platform designed to allow users to trade, earn, and track assets. With Elluminex, crypto enthusiasts will enjoy cross-chain liquidity solutions that make transactions easier. Although new, it could be a game changer on the TON network.
Solana (SOL) reached a new all-time high of $263 two weeks ago. While this event sparked huge optimism around the altcoin market, Solana's price failed to break through the $270 next resistance trendline, leading to a significant retracement as per CoinMarketCap. With Solana's market cap and trading volume down, speculations of the correction are lingering longer.
However, The Moon Show, a popular crypto analyst with over 1.4M followers on X, thinks that Solana's price might reach $295 once it breaks out of the symmetrical triangle. Looking at the Solana price chart, the altcoin needs to surpass the $235 mark to confirm bullish momentum.
Key market indicators like the Average Directional Index and Commodity Channel Index are neutral. The positive news remains that the Solane crypto price is still above the 50-day and 200-day SMA. If Solana can successfully break out from the resistance levels at $235 and $257, then it could head towards $1000, which Alan Santana projected for 2025 in X.
The DeFi market still faces problems like high transaction fees, fragmented liquidity, and complex interfaces. Elluminex plans to address these issues by offering a unified DeFi Hub on the TON network which will integrate features such as staking, farming, a portfolio tracker, and a decentralized exchange.
One of the project's key features is the AI-powered tracker, which allows investors to enjoy real-time tracking and insights on all their transactions. Through the Elluminex DEX exchange, users will enjoy low slippage, high liquidity, and advanced order types, ensuring that users trade different cryptos from their wallets without worrying about security and control.
Meanwhile, the ELX is the native token of the Elluminex ecosystem. The token is designed to provide real value and utility to users. The Elluminex tokenomics shows that 50% of tokens are allocated for presale.
As the number 1 TON blockchain DeFi platform, Elluminex offers an educational platform where the opportunities and risks of crypto trading are shared. Those who join the project now have so much to gain, as the $ELX token has the potential to yield massive ROI. With the massive adoption of the TON blockchain, the ELX token might hit 20x before the end of the presale.
Solana has been resilient in the crypto market despite market uncertainties. Its value surged 242% in the past 12 months, which shows there is still much to come from the altcoin. Despite Solana's huge promise, Elluminex could offer better ROI in the coming months given its massive use cases and limited supply. Tokens with such supply often perform well within weeks of launch. Adding to the advantage of launching in the TON and Ethereum blockchain, ELX could hit $1 in 2025.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
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