The crypto market is experiencing notable downturn as Bitcoin (BTC) and Ripple (XRP) plummet below crucial support levels, sending shockwaves through the altcoin market. As major cryptos struggle to regain stability, altcoins like Fetch.ai (FET) and the emerging DTX Exchange token (DTX) are drawing attention from investors and whales.
Ripple (XRP) price has been affected by the current market sentiment. In response, Ripple’s Chief Technology Officer, David Schwartz, addressed this by discussing XRP’s utility. Schwartz stated that the current price allows users to acquire sufficient XRP to facilitate a $1 payment for just $1 worth of XRP.
This reinforces Ripple (XRP)’s role as a medium of exchange rather than merely an investment asset. Ripple’s primary utility lies in enabling fast and cost-effective cross-border transactions, maintaining its relevance even during a broader market downturn. Schwartz’s remarks highlight Ripple’s future goals despite price volatility, reassuring its community of its long-term value.
The recent Bitcoin (BTC) price slump is part of a broader trend that has seen the world’s largest digital asset decline by 9.5% since the beginning of the week and nearly 21% from its all-time high earlier this year. These fluctuations are causing concern among investors, especially those who have heavily invested in future contracts.
According to CoinMarketCap, Bitcoin (BTC) is currently priced at $55,680, with an 8.15% price drop over the week. The 24-hour trading volume is at $40.56 billion, indicating ongoing high levels of activity and interest. Technical indicators show a bearish trend, with the MACD level at -2057.63 and the RSI at 28.47, suggesting that Bitcoin (BTC) is currently oversold.
Fetch.ai (FET) has made a loud announcement in the market by merging with AI assets SingularityNET (AGIX) and Ocean Protocol (OCEAN). The alliance is called ‘Artificial Superintelligence Alliance’ (ASI) which aims to develop a decentralized AI platform, creating a combination valued at approximately $7.6 billion.
The official presentation of ASI is slated for July 15, 2024. Market analysts predict that the official relaunch will result in increased volatility and innovation-driven growth for Fetch.ai (FET). The analyst also highlights that this merge will bring FET into the limelight.
DTX Exchange has emerged as the best alternative for whales to bet big amid speculation about Bitcoin (BTC) and Ripple (XRP). This DeFi platform has earned the spotlight for its explosive presale, which has bagged over $826,104 as of July 5. The project features a cutting-edge blockchain with user-friendly trading features.
DTX Exchange offers a unique value proposition, including 1000X leverage without KYC requirements, making it an attractive option for novice and experienced traders. DTX’s presale demand has dramatically skyrocketed after XRP whales shifted to this hybrid platform for maximum gains and up to 100% ROI.
DTX also offers portfolio management applications, enabling users to manage and track their investments effectively. These features save time and help traders balance and diversify their investment portfolios to enhance their overall trading experience.
DTX is well-positioned to overshadow altcoin giants in the market with advanced features and a user-friendly interface. The platform’s ability to offer high leverage, automated trading, and portfolio management makes it an appealing choice for traders seeking flexibility and efficiency.
While Bitcoin price faces challenges amid market downturn, DTX Exchange’s hot-selling presale is the best cash-in opportunity for investors. Additionally, its token selling price at $0.04 will surge to $0.06 in the next round, with many leading analysts eyeing DTX’s momentum as the next Solana (SOL).
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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.
Singapore, Singapore, 18th September 2024, Chainwire
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