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Solana has been one of the most successful cryptos, currently placed in the fourth rank in the market. In 2021, the SOL price performed tremendously, moving over 14,000% before reaching its peak in November 2021. DTX Exchange (DTX), which has the utility power like Solana, is gaining the same momentum.
DTX Exchange is the first hybrid exchange with strong community backing and a solid foundation in the exchange industry. Within two months of launch, DTX Exchange had over 2,62,000 registrations.
Last Friday, the SOL price surpassed its previous ATH of 260, creating a new high of $264.63. However, the new high was only sustained for minutes and fell back into the base. From the peak, the SOL price has retraced nearly 15% and has found support at the 20-period moving average. However, the demand at support levels clearly shows the strength of the SOL price, and if the buyers take over, a new ATH can be created in a week or two.
From the bottom of November, the SOL price has increased by over 65%. This rally in Solana is a major contribution to the crypto market rally due to the US Elections and memecoin activities. Solana-based decentralized exchanges (DEXs) are thriving on the massive demand for memecoins, recording over $124 billion in trading volume this November. This figure is double that of their closest competitor, Ethereum (ETH).
Pump.Fun, a meme coin platform, launched in January 2024, marking a key milestone for Solana. While its popularity surged during the summer, the platform thrives within the Solana ecosystem, even as it expands to Ethereum and Layer 2 solutions like Base and Blast. Meme coins are just one aspect of SOL price’s rapid growth. The blockchain also waves in the Real World Asset (RWA) space.
Solana whales prioritize the DTX token presale as they see it as the next SOL in the making. DTX Exchange has already proven its dominance in the crypto market, raising $8.85 million within six weeks. Currently, DTX Exchange is in the fifth stage of the presale, with tokens priced at $0.1. According to some reports, DTX Exchange could launch in different exchanges by the end of December.
DTX’s hybrid protocol, which brings new life to decentralized finance, is the main contributor to its success. With its hybrid nature, DTX Exchange will provide the benefits of CEX and DEX in a unified platform. Users can access over 100,000 instruments in 12,500+ assets, including cryptos, stocks, forex, commodities, etc.
Other remarkable features, like 1,000x leverage and a highly secured wallet, have been appreciated by traders worldwide. Another strong area of DTX Exchange is community benefits; it provides features like revenue sharing with the help of community members, who can generate passive income.
DTX Exchange has strong fundamentals, and the momentum in price signifies its technical strength. With unmatchable offerings, DTX Exchange is the best contender in this bull run for multi-bagger returns.
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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.
