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Cryptocurrency News Articles
Investors Get Ready for the Q4 Crypto Rally: Solana (SOL), DTX Exchange (DTX), and Shiba Inu (SHIB) Show Promising On-Chain Metrics, Signaling Significant Price Increases
Sep 25, 2024 at 11:00 pm
With the crypto market looking to close September on an upward trajectory, it could be the perfect setup for a massive price rally in the fourth quarter.
Investors get ready for the Q4 crypto rally: promising on-chain metrics hint at massive price increases for Solana, DTX Exchange, and Shiba Inu.
As the crypto market prepares to close September on an optimistic note, the stage may be set for a substantial price rally in the fourth quarter. Among the top altcoins that are highly likely to spearhead this market rally are Solana (SOL), DTX Exchange (DTX), and Shiba Inu (SHIB).
The recent signs of recovery shown by the Solana coin have been backed by an increase in its on-chain activity. According to data from DeFiLlama, Solana led the DeFi market in 7-day active addresses. An increase of 8% over the last week takes the number of addresses on the Solana blockchain to over 3.18 million, making it the most active network.
The implication of this metric is that a large number of users have been interacting with the Solana network recently. This activity includes sending, receiving, or interacting with decentralized applications (dApps) on the Solana blockchain. As a result of this high level of activity, the Solana coin has reacted positively.
In addition to its strong network performance, the Solana price chart has also been on the rise. On the weekly chart, SOL has increased by more than 12% to briefly recover above the $150 support level. Technical indicators on the 4-hour time frame suggest that SOL is in strong buy territory. Telagon has predicted a breakout that could take the price of Solana (SOL) as high as $250 in the coming weeks.
While Solana is making waves in the DeFi space, another exchange is quickly rising through the ranks to connect traders to the vast OTC derivatives market, which is valued at over $715 trillion. DTX Exchange has been able to integrate the best features of centralized and decentralized exchanges to create a unique trading platform.
Over the last few weeks, DTX Exchange has seen a rapid inflow of funds from whales. As a result, the crypto ICO has raised over $2.7 million in funding. The rise in support for DTX Exchange stems from its all-inclusive trading platform that suits the needs of all types of traders. Whales are certain that the price of the DTX coin can trade as high as $1 from its current price of $0.06. Hence, the growing interest in the project.
Unlike conventional exchanges, DTX has integrated the best features of centralized and decentralized exchanges. In addition, DTX Exchange is not confined only to the crypto space. On this new exchange, customers can trade instruments from the forex, stocks, equities, and ETF markets, making it the best option.
This connection to multiple markets gives DTX Exchange access to the $715 trillion OTC derivatives market. Firstly, this will help DTX provide more liquidity than other exchanges. However, more importantly, it will provide the platform for growth that other crypto exchanges lack. This is why analysts are optimistic that the DTX coin can hit $1 before the year ends.
Finally, among the memecoins in the crypto space, the recent SHIB burns have been massive, and the community is rallying behind the memecoin to reduce its total supply. The recent burn comes shortly after the market lead of Shiba Inu, Lucie, announced the team’s plans to “reduce the supply” of SHIB by buying and burning the memecoin.
According to the Shibburn X handle on Twitter, the burn rate for the Shiba Inu coin has skyrocketed by an astonishing 5,975%. This recent burn follows a massive burn of over 133 million SHIB tokens a few days ago.
Currently, the Shiba Inu memecoin has been hovering above the $0.00001400 support level after a 9% rise on the weekly timeframe. The Shiba Inu price is currently attempting to recover above the 100-day SMA at $0.00001534. A break above this resistance will set SHIB on track to recover the key support level at $0.0000200.
Which coin should traders buy for huge gains?Based on their current performances, Solana, DTX Exchange, and Shiba Inu are some of the best altcoins to buy for huge returns. However, DTX is the best pick for investors looking for the biggest return in Q4 and beyond. Its exchange and connection to the OTC derivatives market could make it one of the market leaders in the near future.
To learn more about DTX, visit the official website and join the DTX community.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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