Cardano (ADA) is facing a difficult time again at an important price level. Many traders are watching closely because it can’t seem to go up.
At the same time, DTX Exchange (DTX) and ApeCoin (APE) are doing really well, both going up by 30% in a few days. This change in the market shows that people are excited about these projects. In this article, we will talk about why Cardano is struggling and why DTX Exchange and ApeCoin are rising.
ApeCoin soars after ApeChain launch: Staking and NFTs spark renewed interest
Since the launch of ApeChain ApeCoin (APE) has jumped in price. On Coinmarketcap we can see that APE is now trading at $1.41, which is up 81% from last week. This is a big change because the coin had been going down since it reached its highest price of $39.40 in March 2022.
At one point, ApeCoin went up by 130% to $1.73 during the weekend. After a small drop this week, the upward momentum can still take it to higher prices. This momentum started after ApeChain launched on October 20.
Apecoin (APE) is connected to the Bored Ape Yacht Club, which is a famous NFT collection made on Ethereum. ApeChain helps create and trade NFTs and runs decentralized apps. It also allows users to move tokens easily and gives them chances to earn more money with ApeCoin (APE), ETH, and stablecoins. This has made more people interested in using it.
Markus Thielen, who works at 10x Research, says that a new feature called staking has made ApeCoin more popular and its price has gone up. This system automatically adds rewards back into the account, so users can earn more money over time. The platform also wants to attract more people by helping other cryptocurrencies that can earn money.
Interest in NFTs has gone down a lot since they were very popular back in 2021-2022. The total value of the NFT market dropped from $304 billion in August 2022 to only $24.6 million now.
Cardano’s ADA stagnates amid Market and Community concerns
For the past week, Cardano(ADA) has stayed in a tight range between $0.340 and $0.370. Analysts say this is partly due to the current market conditions.
Recently, negative comments about the Cardano network on X have also contributed to this sideways trend. Many Cardano fans have expressed frustration with the slow price growth.
However, Cardano’s founder, Charles Hoskinson, has downplayed these concerns. He says the network is on the right track. But ADA’s price seems to tell a different story.
DTX exchange: The best of both CEX and DEX for fast and Easy trading
DTX Exchange (DTX) is a great choice for investors who want the benefits of both centralized (CEX) and decentralized exchanges (DEX). It combines the best features of both platforms, offering more assets than most other exchanges.
DTX is launching a hybrid trading platform that combines the best features of centralized (CEX) and decentralized exchanges (DEX). So far, its presale has raised over $5.4 million and could hit $6 million by the end of October. This shows that many traders believe in this project.
With DTX Exchange, people won’t need to open multiple accounts to trade. They can access over 120,000 assets, including FX, stocks, and crypto, with gains of up to 1000x. There’s also no need to worry about privacy because the platform doesn’t require KYC checks. Everyone’s data stays safe.
Right now, the DTX utility token is gaining a lot of attention. It’s priced at $0.08 during phase four of its presale, which is a 400% jump from its original price. When phase five starts, the price will go up to $0.10. Experts say DTX could rise another 40x when it gets listed on major exchanges like Uniswap, making it a great investment.
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