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Cryptocurrency News Articles

Ethereum (ETH) Whales Kickstart Upcoming Rally, Cardano (ADA) Sets Sights On New All-Time High (ATH), FXGuys ($FXG) Revolutionizing Proprietary Blockchain Trading

Nov 17, 2024 at 09:00 pm

As the cryptocurrency market revels in Bitcoin's (BTC) parabolic rise, several high-potential altcoins are making significant moves towards dominating the alternative space.

Ethereum (ETH) Whales Kickstart Upcoming Rally, Cardano (ADA) Sets Sights On New All-Time High (ATH), FXGuys ($FXG) Revolutionizing Proprietary Blockchain Trading

As the cryptocurrency market enjoys Bitcoin’s (BTC) parabolic rise, several high-potential altcoins are making significant moves toward dominating the alternative space.

Ethereum (ETH) has emerged as a frontrunner in the latest crypto rally, surging nearly 30% in the past week to reach $3,200 amid extraordinary whale activity. According to IntoTheBlock, Ethereum’s transaction volume has been on a steady recovery since market activity slowed in mid-2022. On-chain data reveals a staggering 8,482 large transactions exceeding $1 million each, with the total volume from these whale movements surpassing $10.4 billion. This surge in institutional interest coincides with Ethereum’s network settling $60 billion in weekly transactions, marking its highest activity level since July.

The second-largest cryptocurrency’s robust performance is further validated by its holder composition, with 78% of ETH investors currently in profit. Notably, 74% of Ethereum holders have maintained their positions for over a year, while net exchange outflows of $388.68 million in the past week indicate reduced selling pressure. Increasing institutional participation suggests Ethereum could position itself for further upside as profits from Bitcoin’s bull run begin rotating into high-potential altcoins.

Cardano’s (ADA) Sets Sights On New All-Time High (ATH)

Cardano founder, Charles Hoskinson, has announced his interest in working with lawmakers in Washington, D.C., to help shape the cryptocurrency policy in the United States. This announcement coincides with ADA’s trading volume exploding by 160% as retail traders and whales rushed to participate, pushing daily transactions above 37,000 unique addresses. The surge in market activity is reflected in the derivatives markets, where open interest has grown 65% to reach $546 million, its highest level in seven months.

The sharp upward movement in its DeFi coin price led to multiple liquidations, which have likely fueled more rapid price increases as short positions closed out. Technical indicators support the bullish outlook, with the MACD crossing above the signal line and the price breaking through key resistance levels at $0.34 and $0.40. Analysts like Ali Charts project ambitious targets, suggesting potential gains of up to 2000% that could push ADA toward a new all-time high of $6.31 by September 2025.

FXGuys ($FXG) Revolutionizing Proprietary Blockchain Trading

FXGuys is pioneering PropFi trading, revolutionizing the blockchain space with its innovative broker-backed trading platform. The custom FXGuys Trader interface integrates with established platforms like MT5 and cTrader, providing seamless access to multiple assets including forex, crypto, indices, and commodities through integration. FXGuys aims to deliver the best crypto trading platform where traders can operate without KYC requirements while enjoying same-day deposits and withdrawals across 100+ supported currencies.

The project addresses a crucial market gap by offering retail traders access to funded accounts up to $500,000 with an attractive 80:20 profit split. Entry into this program is determined by success in trading challenges, which are funded by $FXG tokens. Traders can earn these tokens through the Trade2Earn program which rewards every executed trade, creating a sustainable reward ecosystem.

The $FXG presale is currently selling at a DeFi coin price of $0.03 in Stage 1, with 93% of tokens already sold, amounting to nearly 135 million tokens. This impressive momentum has left investors anticipating significant returns as the token progresses toward its $0.1 launch price. Token holders can also stake their accumulated $FXG tokens to earn up to 20% profit sharing from broker trading volume.

Conclusion

As the cryptocurrency market maintains its bullish trajectory, Ethereum’s whale activity and Cardano’s regulatory developments signal growing institutional confidence in high-potential altcoins. FXGuys emerges at the perfect time, offering traders a unique pathway to capitalize on market momentum through its PropFi platform. With ETH whales moving billions, ADA targeting new highs, and FXG’s presale promising 200% returns, investors have diverse opportunities in the evolving crypto landscape.

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