Solana has emerged from the 8-month-long correction period in the precious bull cycle. Since November 6th, the SOL price has increased nearly 50% from $166 to the current high of $248.52. This is the first leg of the rally for Solana, which aims to break out of the all-time high in November. The new emerging DeFi Competitor DTX Exchange (DTX) has been doing better than major altcoins with its exponential growth in the last few weeks.
DTX Exchange has crossed the $8 million milestone in one day of the 5th stage of its ICO. This signifies the robust demand for the token and hints about the project’s future growth.
The current bull swing in Solana is the third upswing since the bear market of 2023. However, the long consolidation in 2024 makes it the fresh stage breakout, which is good for bulls because the selling has already been absorbed.
Another major point of the current upswing is the linearity of price action. On the recent bull flag pattern, the SOL price respected the 10-day moving average, indicating price linearity and strength. Solana is very close to an all-time high and might break out in a week or two.
The Solana ETF predictions have sparked discussions and driven its price upward. Matthew Sigel, VanEck’s head of digital asset research, stated on November 15 that the chances of a Solana exchange-traded fund (ETF) listing in the U.S. by the end of 2025 are “overwhelmingly high.” VanEck filed for a Solana ETF in June 2024, describing it as “a bet on Donald Trump to win.”
Sigel believes a Trump administration would likely support the crypto industry and encourage investment in digital assets. He also noted that the crypto sector anticipates the approval of other spot ETFs, with VanEck already exploring the possibility of launching ETFs for various asset classes. A Trump victory could pave the way for over half a dozen crypto ETFs currently awaiting regulatory approval in the U.S.
Great fundamentals in the DTX Exchange have attracted institutional investors and HNIs (high-net-worth individuals) to the presale. Web3 experts say DTX Exchange will replace major coins like Solana in 2025. It has cleared the intentions in the token presale, seeing inflow higher than supply. The platform’s utility token DTX has grown 400% from stage one and is currently trading for $0.1 for each token.
Last month, the DTX team announced that the token’s listing price would be $0.2. Since then, the presale has seen an inflow of $3 million in the last two weeks. This investment came mostly from crypto whales and money fund houses that know the DTX Exchange’s growth potential.
DTX’s trading infrastructure is an innovation in the industry because of its hybrid protocol. DTX Exchange features the first hybrid platform, which allows the trading of traditional and digital assets. Phoenix Wallet and VulcanX blockchain technology are significant attractions of the exchange, which are the proprietary innovations of the DTX Exchange.
Experts have projected that the DTX token could grow by 4,000% in the first few months of launch. The DTX team expects the launch in December. This presale is the last opportunity for investors to be a part of the revolutionary exchange in development.
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