Ethereum’s (ETH) struggle to rise above the $3,000 mark since August 2024 sparked concern among analysts and investors. Nonetheless, a recent CryptoQuant analysis suggests a potential breakthrough if funding rates in the futures market remain stable.
On the other hand, DTX Exchange (DTX) is gaining traction as an emerging operator in online trading. With its hybrid platform and impressive presale performance, experts say DTX could rise by up to 3000% after launching on the mainstream markets. Continue reading for more details!
Ethereum’s Path to $3,000: Analysts See Potential Rally
Ethereum has failed to reclaim the $3,000 price level since early August 2024. Nonetheless, things could start looking up for ETH once more.
A CryptoQuant blockchain analytics platform analyst published a chart highlighting how a continued cash inflow into the ETH futures market could fuel a rally in the Ethereum market.
The analyst said that the perpetual futures market helps contribute to the price movement of the underlying Ethereum assets. More buying actions in the futures market show investors’ interest in ETH, thus projecting its value to increased prices. On the other hand, more selling actions are accompanied by a price drop.
Interestingly, ETH funding rates market charts show that futures traders have slowly shifted to more buying activities than selling, meaning they are more bullish about Ethereum.
While the CrypoQuant analyst was optimistic that ETH could surge to higher prices, they acknowledged that there is a catch. For ETH to keep rising, the demand in the perpetual futures market must continue surging in the coming months. A consistent uptrend in the funding rates could help Ethereum to surge in the mid-term.
Thus, the ETH perpetual futures investors must remain bullish for Ethereum to gain momentum. A drawback in the funding rates metric will jeopardize ETH’s price in the short term. The crypto’s price has traded within range for almost two months despite the constant outflows recorded in the US spot ETH exchange-traded fund (ETF) market.
On September 26, ETH was trading at $2,636.91, up 8.48% in the past week. Analysts say ETH will rise to $2,855.62 in October, supported by increased buying pressure.
DTX Exchange Dominates Online Trading in its Presale
Ethereum might need its funding rates to remain stable in the coming weeks to rise above the $3,000 psychological zone. Nonetheless, investors are now turning to DTX Exchange due to its massive growth potential. DTX Exchange can dominate the online trading sector by launching its Layer-1 blockchain protocol that helps integrate the best of DEX and CEX.
DTX Exchange is taking online trading by storm since it allows users to invest in at least 120,000 asset classes, including forex, CFDs, and crypto tokens. Furthermore, the hybrid trading platform offers leverage of up to 1000x, which increases opportunities for investors to make huge returns on their investments.
In that context, fast transaction speeds of 0.04 seconds also give DTX Exchange an edge over all other exchanges. Notably, the DTX utility token is the fuel that operates all transactions on the platform. Investors who acquire the DTX token enjoy smaller trading fees and governance voting rights in the project.
The DTX Exchange presale has performed impressively well so far. It has raised over $2.7 million and may exceed $3 million by the end of September 2024. DTX’s presale is selling out fast, and it recently reached Stage 3, which means investor demand has increased rapidly.
DTX has gained investor confidence, such that influencers like YouTuber Crypto Volt believe it will gain over 3000% after it lists on the mainstream market.
Currently, DTX is in Stage 3 of the presale, valued at $0.06. Interestingly, the presale has delivered 200% profit for the early investors who purchased it at $0.02. The current investors will have a 33% ROI when DTX moves to Stage 4 of the public presale, valued at $0.08. Some experts even believe DTX can go as high as 30x after a Tier-1 exchange listing.
The DTX Presale Promises Huge Gains as Ethereum Struggles!
Ethereum’s path to reaching and surpassing $3,000 depends on stable funding rates in the futures market, with increasing optimism among analysts. Nonetheless, the rally needs constant demand from perpetual futures investors for it to happen.
In the meantime, DTX Exchange offers an exciting opportunity in online trading with its advanced hybrid platform and strong presale performance. On that note, DTX is perfectly positioned to make a major impact, with forecasts of a possible 3000% surge after its listing.
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Source: https://nulltx.com/analyst-predicts-3000-for-ethereum-provided-funding-rates-remain-stable-see-how-high-dtx-exchange-can-go/