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Monero (XMR) is neutral, according to technical analysis. This uncertainty about its future has left many investors undecided about diversifying with this crypto. Meanwhile, Ethereum Classic (ETC) is on an uptrend. Pullix (PLX) is also gaining attention in the ongoing presale.
The platform plans to introduce a community-backed exchange with no know-your-customer (KYC) requirements for trading over-the-counter (OTC) derivatives.
Monero retraces
XMR is stagnant at around $170, fluctuating between $165.21 and $173.77 in the past week.
If buyers take over, the coin might find support at $175. Conversely, if bears take over, XMR could fall to $137.
Monero is currently 68.82% below its all-time high of $542.33.
Analysts’ Monero price prediction places the coin in the $187.27 zone.
Ethereum Classic breaks above $20
The hash rate of Ethereum Classic has been increasing since the Ethereum Merge.
The fact that miners are moving from Ethereum to Ethereum Classic suggests a high demand for it.
Additionally, the limited supply and the possibility of higher demand in the future due to enhanced security measures could support prices.
As the network attracts more developers and users, adoption might increase, increasing prices.
In the past month, ETC rose by 10.5%.
Meanwhile, the coin rose from $18.51 to $20.34 in the past week, easing past the $20 resistance.
Analysts expect ETC to reach $30.19 by Q1 2024.
Exploring Pullix
Pullix is developing an online exchange that addresses high fees, slow transaction times, and low liquidity in the decentralized finance (defi) scene.
PLX, the platform’s token, is used for trading fees and offers holders rewards and other platform-exclusive incentives. Users can stake and receive rewards.
Moreover, PLX can be purchased or burned to reduce supply and increase its value over time.
Pullix simplifies pool creation by allowing users to deposit PLX, instantly creating a new pool.
In the initial presale stage, PLX is available for $0.04. However, in the coming sessions, supporters expect more gains.
Conclusion
With Monero cooling off, market participants are exploring Ethereum Classic.
However, with ETC’s lower growth potential, web3 enthusiasts are turning to Pullix and examining PLX’s deflationary model.
Half of the tokens that are not burned are given as rewards to ecosystem participants who provide liquidity.
For more information about the Pullix presale, visit details below:
Site: https://pullix.io/
Twitter: https://twitter.com/pullixmarkets
Telegram: https://t.me/pullixmarkets
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Source: https://crypto.news/comparing-monero-pullix-and-ethereum-classics-growth-potential-in-2024/