Elluminex (ELX) Is Set to Debut As the Next Generation DeFi Hub on TON Blockchain

To begin with, Elluminex (ELX) primarily functions as both a DeFi hub and a cross-bridge solution for DeFi projects that intend to launch

Despite recent price struggles, XRP coin has attracted mixed reactions from token holders and market players. In a recent X post, popular crypto guru, Ali Chart highlighted a seemingly squeezing Bollinger Bands in XRP price trajectory, which is typically an indication of an imminent breakout either to the up or downside.

Meanwhile, in another event, fast-rising presale star– Elluminex (ELX) is set to expand DeFi capabilities on the TON blockchain, thereby posing a major risk to established blockchain networks like Avalanche (AVAX) who may now have to compete fiercely with TON Network in terms of market dominance. Let’s delve in and find out how exactly Elluminex intends to achieve this ambitious goal.

Elluminex Is Set To Debut As The Next Generation DeFi Hub On TON BlockchainTo begin with, Elluminex (ELX) primarily functions as both a DeFi hub and a cross-bridge solution for DeFi projects that intend to launch on the TON Network. Similar to the role that Unisawp played on Ethereum, PancakeSwap on Binance Smart Chain, and SpookySwap on Fantom, Elluminex is also set to achieve the same with a unique twist on the TON blockchain.

Essentially, Elluminex combines the tokenomics of its native $ELX token, AI-driven insights, and proprietary premarket features to revolutionize asset management and trading as a whole within the TON ecosystem. Notably, Eluminex offers proprietary features including an AI-powered portfolio tracker as well as a premarket feature that allows users to access TON projects before public launch, ultimately providing an equal shot for new and experienced users to become profitable.

Meanwhile, new projects can also leverage Elluminex’s cross-chain and bridging solutions as well as the vast liquidity required to thrive on the TON Network. While this equips TON Network with the necessary infrastructure to compete with other established chain networks, it also positions Elluminex for substantial growth. Currently priced at $0.06, the native $ELX token holds a huge potential to debut as the next breakout token.

Ripple Coin Navigates Steep Price Retracement Amidst Hint For An UptickBarely two weeks of trading above the $3 price region, the Ripple (XRP) coin has finally lost hold of the critical price zone. Now hovering within a weekly price range of $3.29 and $2.80, XRP price reflects roughly a little decline in the past week, which further shrunk its monthly increase to only about 30%.

While the recent price retracement is not completely unexpected, the XRP price trend follows several prominent analysts’ predictions, one of which includes Ali Chart. In a recent price analysis on X, Ali pointed out that the Bollinger Bands are squeezing on the XRP daily chart, signaling that a significant price move could be on the horizon. However, contrary to expectations for an uptrend, Ripple prices have been moving in the opposite direction.

Regardless, the XRP price still maintains a generally bullish momentum. Aside from its monthly and yearly price gain, Ripple’s technical analysis including 30, 50, 100, and 200-day EMAs and SMAs points to a strong buy. This suggests that the recent retracement is rather a minor setback with a potential price reversal to the upside in the mid-short term.

Avalanche Price Loses Steam, Dips Below Monthly Support ZoneThe price of Avalanche (AVX) has been subjected to severe price fluctuation in the past month, dropping below the $40 price mark after two attempts. However, the recent price dip has sent the AVAX token further below its monthly support zone of $36 and is now trading at a new monthly low of around $32.

Due to the enormous price correction, the AVAX token is now trading within a weekly price range of $38 and $32, reflecting nearly 12% decline in the past week and about 10% in the past month. Meanwhile, despite recent price setbacks, some top crypto analysts and token holders still maintain great optimism for a potential price rebound.

For instance, popular crypto analyst Renski recently pointed out in an X post that AVAX price momentum is about to go parabolic. According to his chart analysis, if the top altcoin is able to hold strong above the $32 price mark which doubles as a crucial support zone, then an uptick to regions above $70 is inevitable. Apparently, another popular crypto analyst Kong Trading shares the same sentiment.

Can Elluminex Outperform Avalanche And Ripple In The Long Term?Although Avalanche and Ripple are established blockchain and DeFi protocols respectively, Elluminex holds a strong potential to compete on a large scale with each of them, and the reason is not far-fetched.

Judging by its pioneering role as a cross-bridge solution on the TON blockchain, Elluminex’s exposure to TON Network’s rapidly growing user base and association with Telegram’s over 1 billion active users positions it for