While the crypto market has been blown off with a volume bomb this week, the altcoin market is upside down. Ethereum’s price has navigated a significant downturn in the last 24 hours, losing its $2.7k support level. This trend is met with considerable speculation, as the ETH price can heavily influence the trajectory of other altcoins.
As the ETH price trend is not meeting expectations, Ripple (XRP) and DTX Exchange (DTX) are emerging as significant alternatives for this bull run, poised to yield substantial gains. The Ripple (XRP) price is said to become immune to the influence of legal conflict, and its ledger developments can make it a leader in the Defi sector.
Viral Presale DTX Exchange (DTX) Drops Bomb With CMC Listing
DTX Exchange (DTX) is emerging as a sound investment opportunity in the trading space as investors explore its industry-oriented narratives and commitment to scaling traders’ profit schemas with its advanced marketplace and cutting-edge features. The project has raised a mind-blowing $5.4 million in batch 4 of the public presale, resulting in an unstoppable capital influx.
The DTX platform offers competitive tradFi strategies for traders looking for profits, as well as an end-to-end trading environment where they can strategize and execute trades faster than ever. DTX Exchange’s decentralized security protocols and lightning-fast hybrid blockchain provide a powerful set of tools to maximize profits in diverse financial markets, including stocks, cryptos, forex, and CFDs.
The quant and algo trading features of DTX, advanced automation techniques and 1000x leverage, attracted global traders to its public presale after CMC officially announced its listing. Traders can acquire DTX tokens at $0.08 in batch 4 before they surge higher in the following presale stages, potentially rising to $1 by DTX Exchange’s main net launch.
September Rate Cuts Derail Demand For ETH Price Prospects
The ETH Price has been in a challenging position since the ETH ETF launch, as the September 18 rate cuts also shifted the investor’s sentiment toward Bitcoin and its ETFs. The criticism of the Ethereum blockchain has also influenced the ETH price in the last quarter, and the bearish trend is actively tracing its momentum, which is way below Bitcoin and other altcoins in October.
Top market analyst Kaiko has also shared his insights about the ETH price this October as the crypto faces a steep demand decline in spot markets. The volume is also lowering compared to other top 50 altcoins, and the ETH price has lost over 3% market share in the last 24 hours. This lackluster trend makes investors question the expected $3,000 rally in ‘October’October amid continued bearish trends.
Surge in Derivatives Trading Volume Boosts Ripple (XRP) Rally
Due to its ongoing legal battle with the SEC, Ripple (XRP) might not be the best choice for bullish returns this year. However, industry support is pushing it under the spotlight. Elon Musk has recently voiced subtle endorsement for the XRP ledger. Many experts believe that Ripple (XRP) holds the potential to defy the legal pressure and continue its upward trend to $0.7.
While the $200M secret transfer of Ripple (XRP) to an unknown wallet has raised some questions, the market dynamics of XRP signal an improved landscape, especially after a rise in its derivates and trading volume. Those investors willing to bet on Ripple (XRP) for short-term trades might come out more prosperous, but long-term prospects must be met with caution due to uncertainties surrounding the Ripple foundation.
Key Takeaways
While the ETH price has cast doubts on its ability to rally toward the $3K mark, alternative options like Ripple (XRP) and DTX Exchange (DTX) are gaining momentum. XRP is somehow a risky investment due to its legal uncertainties, but DTX Exchange is the real breakout star after its CoinMarketCap listing. It is ready to mint millionaires and yield 10x returns after its mainnet debut this year.
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Read Also: Bitcoin Eyes Bullish Breakout After 10% Surge, Analysts Predict $74,000 Target and Beyond
Disclaimer: Information provided on AlexaBlockchain is for informational purposes only and not financial advice. Crypto investments, including ICOs, IDOs, presales, and other token offerings, are highly risky. You are responsible for conducting your own research (DYOR) before making any financial commitments. Take professional advice before making any investment. Read complete disclaimer here.
![10 Best Crypto Presales to Buy Now [Updated List] October 2024](https://alexablockchain.com/wp-content/uploads/2024/10/10-Best-Crypto-Presales-to-Buy-Now-Updated-List-October-2024-450x253.jpg "10 Best Crypto Presales to Buy Now [Updated List] October 2024")
