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The cryptocurrency space has seen its fair share of large predictions and the latest one from Michael Van de Poppe has stirred up the market. As for Chainlink (LINK), it is expected to reach $35. The altcoin is among the top performers in the market currently.
Meanwhile, market participants are rushing to Elluminex (ELX), the DeFi innovator that could revolutionize the TON blockchain and the world of DeFi. Currently trading at $0.06 during the crypto ICO, Elluminex has already raised more than $287k, which speaks volumes. Could this DeFi coin beat the odds and reach $1 before Tron?
The Tron coin is looking solid on the price chart. CoinMarketCap data reveals the value of the DeFi token has soared by 13.4% in the weekly timeframe. The cryptocurrency is attempting to break past the resistance at $0.255.
Indicators like the VWMA (10) and Hull Moving Average (9) support this upward movement. They display buy signals which means that bulls are leading the market.
Meanwhile, large investors have shown huge interest in the Tron token. According to Cryptothedoggy, Trump's World Liberty Financial has bought over $30 million TRX recently. This move makes Tron (TRX) the third-largest holding of WLF. Large accumulation indicates huge interest and could lead to a price rally soon.
Cypher forecasts the Tron price might pump to $0.31. Another analyst called AMCrypto says the value of the altcoin could hit $0.5 before the end of this first quarter.
The Chainlink coin is showing double-digit gains on the price chart. The altcoin has benefited from numerous integrations, large whale movement, and partnerships with Ripple. Data from CoinMarketCap shows the value of Chainlink (LINK) has risen by 26.9% on the weekly chart.
The cryptocurrency is currently trading above the 50-SMA ($23.38). It faces resistance around $27 and $29 which could determine its movement in the coming weeks.
Meanwhile, data from IntoTheBlock shows that over 80% of Chainlink crypto holders are currently in profit. Analysts like Michael Van de Poppe expect the current uptrend to continue.
He forecasts the Chainlink price might pump to $35 soon. Another analyst called CryptoJobs3 posted a similar target. He says the value of the DeFi crypto might pump to $31.
In the meantime, the sentiment surrounding LINK is bullish. The relative strength index has crossed the midline and is close to the overbought region. Also, the VWMA (10) indicator flashes a buy signal which means bulls are in control.
Elluminex (ELX) is introducing cross-chain and bridging solutions to the TON Network which will allow projects to access a large amount of liquidity. Another problem that concerns many blockchain networks, including TON, is the distributed nature of liquidity across various platforms.
Elluminex fills this gap by enabling the porting of assets from one chain to another so TON projects can get access to markets on multiple platforms without the typical obstacles. This increased liquidity will contribute to the development of TON’s ecosystem to compete with other large blockchains such as Ethereum and Solana.
Furthermore, The integration of Uniswap on the Ethereum blockchain was revolutionary not only to Ethereum but also to the rest of the DeFi market. The AMM model that Uniswap implemented changed decentralized exchanges for the better; users could trade tokens directly from their wallets, reduce their expenses, and make swaps without outside interference.
Elluminex could bring such massive growth to TON, also increasing the value of the ELX token as adoption rises. Currently, in the presale phase, the DeFi coin is a huge part of the Elluminex ecosystem. It is in the first stage of its crypto ICO and is trading at $0.06. Over $287k has been raised signifying huge interest from investors.
Elluminex is a DeFi project that could transform the TON blockchain and the DeFi industry as a whole. As market players join its cryptocurrency ICO, the opportunity for the platform to surpass other players such as Tron (TRX) is hard to ignore. Elluminex could be the sleeping giant that gives crypto market players huge returns on their investments.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
