While the cryptocurrency market is experiencing high volatility, investors are exploring new opportunities to capitalize on the next stage of the bull cycle.
Long-term leader Cardano (ADA) has suffered in the recent market environment as the profit booking took over after last week’s rally. Due to the weak market strength, ADA traders are switching to a newcomer, DTX Exchange (DTX).
DTX Exchange is a viable contender in the online trading space and is preparing for a Binance listing by mid-2025. Recently, it achieved another milestone: crossing over 450k token holders who believe in the project. As DTX could transform online trading forever, market analysts forecast a potential 50x surge in the current year.
Cardano Price Drops 10% In Weekly Charts
The Cardano (ADA) ecosystem has been a major contributor to the development of the blockchain world, and in the new year, it aims for transformative growth. However, due to market volatility, the Cardano price has experienced significant bearish pressure, dropping nearly 10% in the last seven days. On 7 January, the Cardano price reached a high of $1.15, and in the next three sessions, it dropped over 23% to a low of $0.879.
ADA is currently trading at $0.95, showing some resilience in the last 24 hours, rising by 5.30%. Technical analysis shows that the Cardano price hasn’t been able to sustain the breakout from the declining wedge pattern on its daily chart. This pattern comes after a long December correction triggered the downtrend.
Source: CoinMarketCap
ADA traders are paying close attention to Cardano’s price action, as further downtrends can initiate a short-term bear phase. Many analysts, such as YashCrypto, posted on X that if the Cardano price creates a bullish outlook in the coming weeks, it could surge above the $1.50 resistance level.
Moreover, according to the cryptocurrency market enthusiasts, the upcoming hard fork of Cardano (ADA) is the talk of the town. Cardano is gearing up for a significant upgrade, with the launch of Plomin hard fork set for January 2025. The governance proposal on the Plomin hard fork was officially submitted on-chain on December 20, which is a key step for blockchain governance. The launch of this event could have a direct influence on the price of Cardano, therefore, it is recommended that traders remain alert on movements related to this.
Experts Weigh DTX Exchange as the Next Big Thing In Crypto
As speculation about the Cardano price continues, all eyes have been shifted to the novel hybrid platform DTX Exchange (DTX). Its online trading platform combines traditional financial and digital assets in its Web3 product. On DTX Exchange, users will get the opportunity to trade over 120K asset classes at up to 1000x leverage.
DTX Exchange is built on highly efficient VulcanX blockchain technology. This technology recently went viral due to its exceptional performance in the testnet launch, which achieved 100,000 TPS. It is one of the fastest blockchains in the industry and enhances trader efficiency with 0.04 second-order execution speed.
The DTX ecosystem has been built with a community-focused approach. The VIP rebate program, which allows members to earn a 3% share of the exchange’s revenue, was specifically launched to incentivize community members. Also, by staking DTX tokens, users can earn upto 47% APY, the highest in the industry.
DTX token is currently trading at $0.14 in Stage 7 of its presale, providing an opportunity at a discounted price. Join now!
Find out more information about DTX Exchange (DTX) by visiting the links below:
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.
