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With Solana under bearish pressure ahead of a major token unlock, traders are flocking to viral hybrid trading platform DTX Exchange.
The global crypto market is inching towards recovery as experts and traders both act with caution to make sure that there is minimal loss of capital. While many coins are in recovery and are even booking gains, Solana’s price remains under bear pressure.
Every downturn in the market drives home the need for altcoins to have strong utility cases so that users remain on the network and the platform’s revenue streams remain stable. Another key prop in downturns is having a limited supply of tokens in circulation.
Despite having a good user offering, SOL remains under bear pressure due to its excess supply of tokens in circulation. With another unlock looming in March, Solana’s price could come under further pressure.
That said, many investors are moving to the viral new project DTX Exchange. This hybrid trading platform is pulling in investors with its exceptional presale, which has raised over $14.3 million.
Solana price faces rejection at $200
The Solana price had fallen below the $198 key support level a couple of days back and is still unable to regain this level. The earlier high of $200 is also another key level. Market analysts predict that if Solana’s price manages to cross these two levels, it should be able to pick up more bullish momentum.
However, the market scenario for Solana’s price recovery is not very promising right now. Its trading volume is down by 15.24% to $1.99 billion, and the market cap is down almost 2.45% to $92.2 billion.
DTX enters bonus round amid massive demand
DTX Exchange is set to launch soon. The hybrid trading platform had announced a final token price of $0.16, which was completed successfully. However, with investors clamoring for more tokens, the project has offered a bonus round for those who missed out.
This project is offering traders mixed facilities of centralized and decentralized exchanges. This approach allows DTX Exchange to capture significant attention from investors and traders. Analysts believe that DTX Exchange could outperform popular price records.
Investor confidence is also evident in the project’s impressive presale achievements, raising over $14.3 million with over 600,000 wallet addresses. After the bonus stage, DTX will be listed at $0.20.
Conclusion
While the market debates the probability of Solana’s price recovery and the future of its network, DTX Exchange is positioning itself as a game-changer with its hybrid exchange platform.
Industry analysts predict DTX Exchange could challenge major networks like Solana in 2025, with the project’s focus on cross-world asset exchanges and cross-market availability lending credibility to its long-term viability.
For more information about the DTX Exchange, visit the website or Telegram.
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