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Ethereum (ETH) breaks through key resistance levels as traders rally behind DTX Exchange (DTX).
The surge in spot Ethereum ETFs has diverted attention to Ethereum as one-day net inflows cross $100 million. Meanwhile, the emerging hybrid platform DTX Exchange (DTX) has made headlines with its presale crossing $9.5 million at $0.12 per token.
With only weeks left before DTX enters the next presale round, investors are moving in to claim the potential 25x opportunities.
ETH breaks $3,900 resistance, bulls target $4,631
Crossing above the $3,900 market price, Ethereum inches closer to its 52-week high at $4,093. The current price of Ethereum is at a 4% discount from its annual highest price.
The Ethereum rally marks the third positive week, accounting for a price jump of 28%. This increases the possibility of a triple white soldier pattern in the weekly chart.
The market cap of Ethereum has reached $472 billion and the crypto currently records a trading volume (24H) of $65.92B. As the numbers turn green, analysts anticipate ETH to create a new 52-week high.
Justin Sun offloads $146 million worth of ETH in 30 days
Amid the rally, multiple whales have started to book profit. The trending name is Justin Sun, the founder of the Tron blockchain. Justin Sun’s offloading spree has been news in the crypto market since early November, accounting for 41,630 ETH worth $146 million.
In total, he deposited 39,000 Ether worth $137 million over HTX, and the remaining tokens worth $8.76 million through Poloniex. The average price of the selling spree was $3,505.
Despite the sell-off, the Ethereum rally is still gaining momentum, with the crypto eyeing a breakout run as ETFs show increased institutional demand.
DTX Exchange leads altcoins with VulcanX blockchain
The DTX Exchange protocol lies at the core of the platform’s architecture, serving as the foundation for its operations. It is a comprehensive set of rules and guidelines that govern how the exchange functions, ensuring transparency, security, and efficiency for all participants.
The DTX Exchange protocol will incorporate a hybrid model that combines elements of both centralized and decentralized exchanges. This will allow for a seamless and intuitive user experience while maintaining the security and privacy benefits of decentralization.
With its cutting-edge L1 blockchain technology, DTX Exchange (DTX) has raised over $9.5 million in its presale to date.
Powered by blockchain technology, smart contracts will play a crucial role in executing and enforcing the rules of the DTX Exchange protocol. They will facilitate secure and automated transactions, ensuring that the users execute trades as intended.
The DTX protocol will also employ an on-chain order book that transparently records all buy and sell orders. This will ensure that the trading process is open and verifiable by all participants.
Adding to its trading flexibility, the DTX Exchange will utilize distributed liquidity pools to enhance liquidity and reduce slippage. These pools will aggregate liquidity from multiple sources, creating a more efficient trading environment.
To learn more about DTX, visit their website or Telegram community.
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