AAVE is one of the few coins trading near its 52-week high, and with yesterday’s gains, it has crossed the $2 billion market cap.
Another coin selling at its 52-week high is DTX Exchange (DTX). Launched at $0.02, it has gained 200%, raising over $2.5 million in less than two months, and is currently trading at $0.06. Forecasts are that it will hit $0.12 in the next month.
Avalanche (AVAX) has also been picking speed after the recent recovery; from the recent bottom, it has recovered 15% and is trading near the critical resistance zone. We will discuss the developments around Avalanche (AVAX) and AAVE and what is increasing DTX’s price.
AAVE Rolls Out EtherFi Market
The EtherFi market is designed specifically for weETH and stablecoin pairs, making borrowing easier and more efficient, which is why AAVE is launching the EtherFi Market. This market could attract more users and improve Aave’s overall borrowing experience by focusing on stablecoin liquidity.
Aave DAO announced that the high demand for borrowing weETH had caused liquidity issues, with borrowing limits being reached in minutes.
To address this, the new market provides leverage for stablecoins like USDC, PYUSD, and Frax, reducing the strain on the main Aave market.
Avalanche (AVAX) Crosses $23 Will It Breakout?
Avalanche (AVAX) has also been a victim of the market correction; once it traded above $60, it is now trading at $23. AVAX has tried many times to overcome the correction, but the upper resistance of the channel it trades in has yet to be broken.
Analysis indicates that Avalanche (AVAX) is encountering a lot of resistance near the moving average, so if it breaks that level, it can catch a fresh downward trend.
The MACD indicator of Avalanche (AVAX) has confirmed that such a development is likely, as the signal lines’ short-term bullish trend readings point upwards. Nonetheless, the histograms reside in negative territory, an alarming signal. The Avalanche (AVAX) RSI also showing a value higher than 50, is more or less in a bullish trend.
DTX Exchange (DTX): A Top Contender Of Exchange Industry
As AAVE and Avalanche (AVAX) are facing development issues and market instabilities, DTX Exchange is making a mark in the crypto space with the promise of changing trading and investing forever. DTX Exchange has been successful, with more than 46,800 users signing up in the last two months.
The recent launch of its VulcanX feature has increased inflow, as the feature offers both centralized and decentralized functionality, making it the first exchange in the industry to do so
DTX Tokens, built on the Ethereum blockchain as ERC-20 tokens, give holders voting power for decentralized governance. This enables them to make decisions related to upgrades of the platform and changes in the protocol. In addition, DTX Tokens allow for new features, lower trading fees and additional loyalty rewards, thereby increasing the level of customer satisfaction.
Along with non-custodial wallets and multi-tier accounts, access to distributive liquidity pools providing access to 120k digital assets is one of the other features offered by DTX in forex, cryptocurrencies, equities, and stock markets. As stated by professionals, it is vastly undervalued at its current market price and will shortly achieve the target price required.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.