Logo
Cardano Ecosystem

The Market Periodical

09/13/2024

·

11 views


Expert Explains Why AAVE Stands Tall and DTX Exchange Can Outperform Cardano By 2025

AAVE has become a standout in the decentralized finance (DeFi) world due to its unique offerings, giving it an edge over other platforms. Meanwhile, DTX Exchange is gaining momentum, and experts believe it...

Expert Explains Why AAVE Stands Tall and DTX Exchange Can Outperform Cardano By 2025

AAVE has become a standout in the decentralized finance (DeFi) world due to its unique offerings, giving it an edge over other platforms. Meanwhile, DTX Exchange is gaining momentum, and experts believe it could surpass Cardano (ADA) by mid-2025.

With both projects showing strong growth potential, understanding the factors behind their success is key for investors. In this article, we will discuss why AAVE maintains its leadership and how DTX might outgrow Cardano in the near future.

Buterin Sells ETH for Ecosystem Support; Deposits Proceed into Aave

For context, the wallet tied to Vitalik Buterin received two significant Ethereum transfers in August: 3,000 ETH on August 9 and an additional 800 ETH on August 30, totaling 3,800 ETH.

Following these deposits, the wallet started selling ETH, with 760 ETH sold shortly after the second transfer for $1.835 million in USDC at an average price of $2,414 per ETH. The sales continued, and by mid-September, the wallet had offloaded 950 ETH, amounting to approximately $2.28 million in USDC.

Notably, Lookonchain’s most recent data has revealed that the wallet deposited the proceeds—approximately $2.27 million in USDC—into Aave, a decentralized finance platform. Additionally, 2,851 ETH, valued at $6.73 million, was also deposited into Aave.

As news of Buterin’s ETH sales circulated, speculation arose regarding his motives. Some suggested he was selling ETH for personal profit, but Buterin addressed these claims, explaining the purpose behind the sales.

Buterin further clarified that the recent sale on September 11, which a bio-defense group he funds executed, had been triggered by a pre-set cowswap TWAP order established on August 29.

In a related development, which came before the clarification, Buterin revealed that starting in 2025, he will only publicly mention Layer 2 (L2) solutions that have achieved a certain level of maturity, specifically those that have reached “stage 1” in development.

This change in approach signals Buterin’s intention to provide clearer guidance on L2 projects. Several ZK rollup teams can meet this criterion by the end of 2024, indicating progress in the space.

Cardano Targets 70%; Gains Key Support and Market Rally Potential

Cardano’s (ADA) price was above a crucial support level of around $0.30 on the daily chart. A potential recovery could push its price above the $0.39 resistance level.

Cardano (ADA)  has been trading within a descending channel since the end of the March bull run.

However, a recent double bottom at the $0.31 price level suggests that Cardano may have bottomed out and could be positioned for gains over 70% if the altcoin market rallies when the Federal Reserve cuts interest rates in mid-September.

Traders might consider setting entry points around the $0.30 range. If Cardano (ADA) breaks downward from the descending channel, further analysis will be needed to assess future price movements.

The $0.30 price zone has been tested three times, with the August 5th candle briefly breaking below the lower trendline.

Crypto whales eye DTX Exchange after 200% presale surge

Crypto whales have shifted their attention to DTX Exchange (DTX) as a result of its outstanding presale success. This initiative may raise $3 million by the end of this month, having already raised over $2.5 million. The 200% increase in DTX’s value so far is a strong measure of its potential growth.

Several YouTubers, including Crypto Legends, view DTX Exchange as the next revolutionary platform. Thus, its performance has been making news. In essence, DTX Exchange is going to introduce a hybrid trading platform that combines the advantages of DEX and CEX.

They say DTX Exchange brings something new – a hybrid trading model combining CEX and DEX’s best. Therefore, people can buy over 120K asset classes like crypto coins, gold, and stocks in one place. Plus, DTX Exchange does not do any sign-up KYC checks, giving all complete privacy – a big advantage over its peers.

The DTX utility token will power this platform. Holding it will give you access to better analytics tools and smaller trading fees. It is now in Stage 3 of its presale and costs only $0.06. Those who bought it early are seeing a 300% return. However, this price will jump to $0.08 after Stage 4 begins, and experts predict another 60x surge once a Tier-1 CEX lists it in Q3 of 2024.

Learn more:

Buy Presale

DTX Exchange 

Join the DTX Community

Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Themarketperiodical and all its authors do not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Themarketperiodical.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on The Market Periodical

ORIGINAL SOURCE

https://themarketperiodical.com/2024/09/...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from The Market Periodical

See more
ADA Price in Selling Zone; Could It Melt to This Year Low Soon
The Market Periodical
ADA Price in Selling Zone; Could It Melt to This Year Low Soon

08/25/2024

·

36 views

Related News

See more
Cardano Summit 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)