After several months of ranging action, Ethereum and Solana revisited lower price points, breaching several support levels. In July they both experienced strong recoveries, reclaiming higher peaks and reigniting investor interest. In the past 24 hours, however, the market has seen an increase in selling pressure, and Ethereum has dropped by approximately 12%.
Despite the spike in turbulence, Pullix is showing resilience and investors are rotating funds to hedge against any short-term downturn.
Ethereum ETF Is Live, Will This Be The Spark That Ignites The Run to $5000?
Even though Ethereum is currently facing a correction, analysts remain bullish, as the Ethereum ETF is finally a reality. A certain degree of instability was to be expected as many investors tried to frontrunner the hype and positioned themselves to capitalize on the event, in simple terms, a ‘sell the news’ moment
Roughly $113 million in Spot Ethereum outflows have been registered by funds. On-chain analysis shows that large Ethereum whales have also offloaded significant amounts, which contributed to the mounting selling pressure.
Ethereum currently sells at $2480 and has a market cap of $300 billion. Once price consolidation is over, a new rally to $5000 could come sooner than expected. This makes now the perfect time to buy Etheruem or get involved with ecosystem tokens like PLX.
Solana Is Holding Strong Amidst Market Downturn
Solana has been under the spotlight for almost a year, becoming one of the leaders in the crypto market. Following Bitcoin and Ethereum footsteps Solana could be next in line for a spot ETF, potentially pushing its market cap from $60 billion to over $100 billion. American multinational holding Franklin Templeton has endorsed Solana as the next ETF star, and buying Solana through Pullix could be a great opportunity to profit.
Currently, Solana trades at $167 after experiencing a 5% correction in the last 24 hours. Experts agree that Solana is already one of the protagonists of this cycle, and a $500 price tag is definitely a possibility.
Pullix Catching Investors Attention With Cutting-edge Trading Platform
Pullix has made waves in the crypto world with its ambitious goal of solving the liquidity issues that have hindered the growth of the DeFi space for years. It does this by providing a unified platform combining centralized and decentralized exchanges, meeting all trading requirements and offering users a seamless and intuitive experience.
Investors can trade more than 500 different assets, ranging from stocks and forex options, to commodities and cryptocurrencies, including Ethereum and Solana.
At the forefront of Pullix’s priorities is user trust and a commitment to safety. Users will retain complete custody over their assets. The platform also offers a full array of security features that a centralized exchange can offer, minus the forced reliance on third parties.
PLX, the project’s native token, plays a vital role in the Pullix ecosystem. Pullix will use a portion of the exchange’s daily profits to buy back PLX tokens on the open market. 50% of this amount will be burned, reducing the total supply of PLX, while the remaining 50% will be distributed to holders as staking rewards.
PLX has already shown significant resilience amidst the market downturn, increasing in value to $0.09. When this is coupled with its recurring burn mechanism and robust tokenomics, Pullix has the perfect formula for a huge rally in the upcoming months.
For more information regarding Pullix see links below:
Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice.
