“Uptober” saw a downturn due to newly released inflation data, causing Bitcoin (BTC) to fall below $60,000. Things are even worse for Ripple (XRP): The SEC recently filed an order appealing the court’s final decision. In the midst of this, there is market interest in it DTX Exchange (DTX)a new hybrid exchange platform, has remained unchanged, with Solana (SOL) whales coming in en masse.
This new blockchain-based project stands at the crossroads between TradFi and DeFi while combining the best features of centralized and decentralized exchanges. In addition to the novelty, DTX’s significant upside potential also creates tremendous demand and interest.
DTX Exchange (DTX): New favorite of whales
DTX Exchange (DTX) is in the spotlight despite cautious sentiment in the broader crypto market. Following strong interest from Solana (SOL) whales, over $4.1 million in funding was raised, prompting discussion that this would be the best pre-sale of the fourth quarter.
It will come as no surprise that the amazing upside potential is one of the biggest draws. As an emerging cryptocurrency, it has plenty of room for growth. Moreover, it offers a low entry of $0.08 per token in the 4th round – a budget-friendly coin. With an expected rally of 65x post-listing, it is one of the best cryptos to invest in, tipped to outperform top cryptos like Ripple (XRP).
Moreover, its story is one of the most optimistic: a hybrid exchange platform. Unlike conventional exchange protocols, it will combine the best elements of centralized and decentralized exchanges, most notably the intuitive user experience of CEX and DEX’s wallet-based trading and non-custodial storage. As it prepares to break into the $10 billion global trading marketit is a new DeFi project to watch out for.
Ripple (XRP): SEC drama continues
Ripple (XRP), a payments-based digital asset and a top-10 cryptocurrency, is one of the most popular names in the crypto space. It helps with cross-border payments, which has been a catalyst for growth since its launch. However, it has made headlines more for its legal battle with the US SEC than for positive price action.
The impasse began in 2020 after the regulator alleged that Ripple (XRP) had violated the security law by selling XRP tokens to investors. After a number of back-and-forth discussions, Judge Analisa Torres’ final ruling in August was a $125 million fine – a fraction of the SEC’s $2 billion claim.
While many thought this would be the end of the four-year legal battle, the SEC’s call was a twist that surprised many. As expected, the XRP price fell: a sharp drop from $0.66 to $0.53. However, an XRP price prediction indicates a comeback and many are optimistic that it is a good crypto to buy at the current price.
Solana (SOL): US inflation numbers have driven down the price
Solana (SOL), a DeFi giant, is one of the biggest players in the crypto landscape. Hot on the heels of Ethereum, it facilitates the creation of decentralized apps (dApps) and hosts other cryptocurrencies. Additionally, Solana memecoins, one of the biggest highlights of the year, contributed to the increase.
The last big jump was caused by the rising interest in memecoins. At its March high, Solana (SOL) reached a yearly high of $200, outperforming most top altcoins. However, it plummeted due to several market downturns and declining interest in memes.
The Solana price tested $138 again after the recently released inflation data, which rose to 2.4%. While the initial reaction was bearish, a reversal is expected. It is about to resume its uptrend and the next on its list will be the $150 resistance – one of the altcoins to watch out for.
Conclusion
As the legal battle between Ripple (XRP) and the SEC continues, Solana (SOL) whales have doubled their stake on DTX Exchange (DTX). This new player, at the intersection of DEX and CEX, is the latest investor favorite, surpassing $4 million in pre-sales earlier this week. As it prepares for its debut, it’s a promising wave that shouldn’t be missed.
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Credit : coinpedia.org
