The launch of a parallel blockchain, testnet, on DTX has become the highlight of the DeFi space. Market analysts and investors are drawn to the platform following this upgrade. Some market experts suggest that the testnet launch has made DTX a competitor to well-established altcoins!
Following the addition of 15,000 new members, DTX has become the star of DeFi space at present. While altcoins like Tron (TRX) and SUI struggle with their momentums, DTX soars with its presale raise of stage 3.
The current session registers a loss for Tron (TRX) and SUI, as both the altcoins seem to be under massive bearish pressure. DTX becomes a sigh of relief in these circumstances with its explosive potential.
Tron (TRX) Poised For A Decline: RSI Hints To Bearish Momentum
Market experts claim that Tron (TRX) is up for a massive downtrend as the bears are in charge of the token at present. Tron (TRX) price retested its March 7, 2021, high of $0.170 on August 25 and declined 6.1% last week. On Monday, it traded slightly higher by 0.06% at $0.1557.
Furthermore, on August 25, the daily chart formed a higher high, which contrasts with the lower high of the Relative Strength Index (RSI) indicator of Tron (TRX) during the same period. This phenomenon, known as a bearish divergence, frequently results in a short-term fall or a trend reversal.
Tron (TRX) could drop about 7% from the current trading level of $0.1557 to retest the previous weekly support level of $0.1425 if the resistance level at $0.170 holds. Furthermore, the data from Coinglass indicates that Binance TRX has a long-to-short ratio of 0.43.
This ratio indicates a gloomy pattern of Tron (TRX) in the market because the figure indicates that more traders believe the asset’s price will decline, supporting Tron’s (TRX) bearish view.
SUI Registers A Major Slump On Weekly Charts Following Token Unlocking
SUI blockchain is undergoing a major transformation as the news of the unlocking of new tokens makes rounds. The SUI blockchain is unlocking 64.19 million SUI tokens amounting to $51.60 million in value on September 1. Following the news, analysts expect major downtrends for the SUI token.
This release represents 2.47% of the token’s circulating supply. Given the substantial amount of tokens entering the market, SUI could face downward pressure as some investors may choose to sell their holdings. This could potentially lead to a decrease in its market price.
The daily price chart for SUI paints a pessimistic picture, as the coin is down by 2.83%, with a major decline in the market cap. The weekly chart of SUI, on the other hand, paints a depressing picture for investors, with a major slump of red candles dominating the chart. SUI is down by 20.38% over a week.
DTX Exchange (DTX): Most Promising Investment For September
DTX Exchange is a comprehensive investing platform that offers a range of financial solutions to its members. With over 120,000 financial assets—including stocks, FX, cryptocurrency, and more—it is a one-stop shop! The launch of DTX’s testnet has just swept the bull market off its feet.
Alongside the cryptocurrency titans, the platform is becoming a global sensation with the debut of the DTX testnet, in addition to garnering headlines for its unparalleled trading mode. Users can now learn about the most recent updates and new features through testnet without putting the primary cryptocurrency in danger.
DTX has become unique because of the parallel blockchain that was launched to test, find flaws, and guarantee that the code was working properly before it was put on the main blockchain! According to analysts, the testnet has elevated DTX to the status of the crypto giant- Solana blockchain, shifting the developing platform’s competitive landscape.
The trading platform’s easy onboarding process has also added to the rising popularity of the DTX token. Investors only have to sign in or connect their wallet, and then deposit funds. This simple process makes the investors a part of the DTX community.
With a modest capitalization of $0.06, the native token DTX has sparked an avalanche of interest among traders, attracting institutional and seasonal investors. The site has already raised a staggering $2 million at this early level, or the start of stage 3 presales.
Key Takeaways:
DTX Exchange’s testnet launch has put it on a pedestal in the DeFi space. Investors jump to DTX while Tron (TRX) and SUI struggle in the market.
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