After the most awaited launch of Ethereum ETFs, the investors faced an unexpected disappointment due to lower interest in the ETF market and a failure of the ETH price to show a bull run. Grayscale dumped more than 1.7 billion from its Ethereum Trust (ETHE) due to increasing competition from other 8 players in the ETF sector, hindering the growth prospects for the ETH price.
Investors are now fleeing towards Maker (MKR), Ripple (XRP), and DTX Exchange (DTX) due to surging optimism around them. Ripple (XRP) is close to the end of prolonged legal conflict with SEC while Maker (MKR) is grabbing attention with its network developments.
Let’s analyze the market performance of the ETH price amid a flop launch of Ethereum ETFs and how DTX Exchange (DTX) can outshine Maker (MKR) and Ripple (XRP) in a competitive crypto market.
ETH Price Stalls Below $3.4k Amid Ethereum ETF Skepticism
Despite positive net flows on July 30 in all nine Ethereum ETFs, ETH price continued to trade below $3,400 resistance level due to speculations and ongoing skepticism around newly launched ETFs. The failure of Ethereum to gain enough capital in the first couple of days of the launch when compared to Bitcoin ETFs has also led investors to shift focus to other cryptos, especially Bitcoin.
The ETH price continues to face an alarming situation after the formation of a double-top pattern. For over a month, the ETH price has failed to sustain above $3,400 by displaying a 3% decline on the 30-day chart. Analysts alarm investors about a potential downward rally to $3,000 support if bearish pressures continue to exert pressures, suggesting other investment avenues like Maker (MKR), Ripple (XRP), and DTX Exchange (DTX).
Ripple (XRP) and Maker (MKR) Dominate the Market Cycle
Both Ripple (XRP) and Maker (MKR) are top favourites for this market cycle due to surging global demand and market optimism around them.
Ripple (XRP) is witnessing a constant influx of capital amid market expectations about the conclusion of the SEC conflict soon after the recent advancement in the Binance case. Ripple (XRP) is among the top gainers with a bullish rally beyond the $0.65 level amid massive whale accumulation and can cross $1 if bulls push the price above the $0.8 threshold.
Similarly, Maker (MKR) has recently announced the implementation of LitePSM after the governance vote. This upgrade aims to enhance the existing PSM, reduce gas fees, and streamline the process of swapping DAI with other supported stablecoins. Maker (MKR) has secured 15% gains over a month and is poised to surge past the $3000 threshold within the next few days.
DTX Exchange (DTX) stands in the queue with Maker (MKR) and Ripple (XRP) for a bullish take-off in the upcoming weeks due to its standout performance this week along with ever-surging presale demand.
DTX Exchange Raises Stakes With Game-Changing Potential
As the investor’s eyes turn from the ETH price cycle after the flop Ethereum ETF launch, DTX Exchange (DTX) stands on top of the table with 1000x leverage offerings to traders of all levels, empowering them to make high profits with minimum capital and no need for loans. With a hybrid model and AI-backed advanced platform, DTX commits to transforming conventional trading schemas.
DTX Exchange holds a clear edge over other emerging projects, following its $1.2 million presale in batch 2. The hybrid tradFi platform of DTX includes 120k+ assets from all financial markets including forex, cryptos, equities, stocks, and CFDs to provide an all-in-one trading solution so traders can navigate finances more efficiently.
DTX Exchange is under the spotlight due to its industry-backed features and increasing market relevancy. With robust security features and KYC-free onboarding, the platform is poised to become the next biggest deFi project, replacing traditional exchanges. Moreover, DTX Exchange provides a lucrative entry point at $0.04 that falls in an affordable range, setting the stage for a massive price explosion.
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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.