Are Ethereum (ETH) and Solana (SOL) Losing Grip? Meet the Bold Contender, Delivering 700% Gains To Early Adopters In recent months, Ethereum (ETH) has seen significant growth in terms of adoption, drawing attention from investors and analysts. Despite its recent price drop, the large-cap altcoin recorded an unprecedented jump in the number of new addresses on the network. Notably, the number of new ETH addresses has surpassed 200,000 in a single day, doubling the daily average of 2024. On the other hand, Solana ETF news has dominated headlines, with the most recent news of Cboe BZX Exchange resubmitting filing on behalf of four asset managers looking to list a spot Solana exchange-traded fund (ETF). Meanwhile, DTX Exchange (DTX) continues to gain traction in the crypto market, thanks to its hybrid protocol and a $13.20 million presale. The DTX token has increased by 700% since its launch, showing investors’ confidence. Ethereum and Volatility: An Opportunity or Risk Despite the rise in adoption, the price of Ethereum has seen volatility, but it has not discouraged interest in the network. Market participants believe the recent decline represents an opportunity to accumulate Ethereum tokens, given a potential future rally. While ETH’s price has been fluctuating, its fundamentals have remained solid. The ETH ecosystem’s constant development and usage rise across various sectors indicate a promising future. The growth in new addresses suggests that not only speculative traders are participating, but holders and users also see long-term value in the Ethereum network. The token sustained over $48.25 million in futures liquidations, with $14.55 million and $33.70 million accounting for long and short liquidations, respectively. The token has attempted to reclaim the $3,200 support level after a broader market crash that saw Ethereum touch the $3,000 level. If ETH crypto reclaims this level, it will face another hurdle at the descending trendline of the right-angled pattern. The token has to overcome this resistance to sustain an uptrend. However, if it gets rejected at the $3,200 support level, it could fall and breach the $3,000 level and find support near the $2,817 critical support level, where the bulls had held for four months―from April to July 2024. Ethereum’s RSI, Moving Average Convergence/Divergence (MACD), and Stochastic Oscillator (Stoch) highlight neutral levels, suggesting a dominant bearish momentum. A daily candlestick close above $4,100 could invalidate the thesis. Where Next for Solana (SOL) —$150 or $400? Solana has had a downtrend since its new all-time high of $295.83 on January 19. However, the recent downturn has not deterred optimism on the altcoin. More so now that the market anticipates a spot Solana ETF approval. Notably, Cboe BZX Exchange has resubmitted filings on behalf of four asset managers exploring the listing of spot Solana ETF in the US this year. The bullish news could trigger renewed interest in the Solana token, propelling it to new highs. Meanwhile, the SOL price could set its sights on local support at $233.06. If the current selling pressures persist, it could steer the price of Solana towards the $230 level. Interestingly, its technical indicators reveal a more bearish scenario than a bullish one. If the candlestick closes with a long wick, the accumulated momentum could be enough for a support breakout, which could follow a further correction towards the $210-$220 range. Solana’s trading volume has also plunged significantly, indicating an absence of buyers’ and sellers’ energy. The token could enter a sideways trading zone around the $220 and $260 levels. A dip to $150 is another possibility. This could be the case if market conditions remain unfavorable and SOL’s adoption drops. However, it is pretty unlikely with projects coming to Solana. Market participants still see Solana crypto as a reliable option for those seeking steady gains. Why DTX Exchange Stands Out in the Crypto Market At the intersection of DeFi and TradFi, DTX Exchange is bridging gaps, combining the speed and efficiency of centralized exchanges (CEXs) with the security and decentralization of decentralized exchanges (DEXs). It offers a one-stop platform that will meet the constantly evolving traders’ needs by creating a secure, user-friendly, and flexible trading environment. Powered by the Layer-1 blockchain VulcanX, DTX Exchange will interact with traditional assets like stocks, forex, ETFs, and currency. Its standout Phoenix wallet will be available on the platform. The non-custodial asset storage will reduce restrictions that limit users from particular regions from engaging in international trade. This is particularly true for tokenized ETF trading. Additionally, its 1000x leverage will enable users to get maximum gains and trade one asset against the other with unmatched transparency. With 200,000 TPS on its testnet, DTX could challenge leading blockchains like Solana. DTX Exchange has also prioritized community engagement. Its VIP Rebate program will enable DTX users to earn steady passive gains from crypto holdings. Qualified participants in this program could earn a portion of the exchange. It also offers among the highest APYs on the market. So far, DTX is selling for only $0.16, marking a 700% leap from its initial offering of $0.02. Meanwhile, it has raised over $13.20 million as investors continue to be bullish about it. DTX Exchange Could Challenge Ethereum and Solana Blockchains As Ethereum and Solana’s blockchains continue to witness greater adoption, they face competition from DTX Exchange, which serves as a one-stop shop for all trading needs, including everyday financial instruments with cutting-edge Web3 products. Its 200,000 TPS on its testnet is quicker than the leading blockchains, gearing up for massive adoption and explosive growth. Find out more information about DTX Exchange (DTX) by visiting the links below: Buy Presale Visit DTX Website Join The DTX Community Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here .
