With Binance hitting the 250 million active user milestone, experts were expecting a massive surge in BNB price.
However, despite these high expectations, the price action has been disappointing. This is leading traders to explore other viable altcoins that have been delivering impressive growth.
A notable choice has been DTX Exchange. This hybrid trading platform has been the fastest-growing altcoin of the year after launching a unique pre-launch sale for users to become early holders. This rival exchange token is also expected to become a considerable competitor to Binance after adding a new range of products.
DTX Exchange Crosses 450,000 Holders After Staking Launch
While the crypto market has been bullish at large, DTX Exchange has been the most notable performer this month. The hybrid platform has seen an unusual increase in demand after offering stocks, cryptos, and ETFs under a single platform. Initially starting the presale at $0.01, DTX tokens are currently trading at $0.14 and selling out fast.
Experts have attributed this aggressive demand to perks like profit-sharing, discounted trading, and governance rights for holders. DTX Exchange has also recently rolled out an update to offer tokenized ETF trading for global users. This is a significant milestone because these assets can be traded with global assets with upto 1000x leverage without requiring any KYC.
In the most recent milestone, the platform has crossed over 450,000 users in its active community. This rapid increase in wallet addresses on the platform has led DTX Exchange to become a highlighted name in the crypto world. The most recent feature addition is expected to be the staking mechanism which will allow existing holders to make passive income.
BNB Price Analysis: Why Is BNB Stuck In Channel
Binance is globally renowned as the biggest crypto trading exchange in the world. After crossing 250 million users on its platform, experts were predicting the exchange token BNB to hit new highs. However, the recent movement of the altcoin has disappointed holders as BNB price is stuck between $700 and $750.
Experts have attributed this slowdown in price to legal troubles surrounding Binance. In the past, the platform was fined over $4 billion by the US SEC. Past CEO Changpeng Zhao was forced to leave the platform, further deteriorating confidence in BNB price to cross $1000. Despite efforts by new CEO Richard Teng, BNB is yet to cross its critical resistance.
A major reason behind this slowdown has been the shift to lower-cap tokens by users. BNB has seen over 10,000% increase since its ICO. Now, traders are expecting other altcoins to repeat the same rise.
Key Takeaways
The slow movement of Binance coin despite the growth of the platform has been a key factor in pushing holders to add newer altcoins with better upside potential. DTX Exchange has been a popular choice for BNB holders, looking to capitalize on similar gains as the initial ICO gains. This also explains the rush of investors rushing to get in early in DTX as time is running out for the presale.
To know more about DTX Exchange, checkout the website, or join the community.
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.
