ETFs are the hottest topic in the crypto sector for 2024. We first saw Bitcoin ETFs, and then ETH ETFs came out. This ETF mania will resume in the coming months, and billions of dollars will pour into the crypto market.
Meanwhile, Bitcoin Cash (BCH) and Ethereum Classic (ETC) have gained after the recent downtrend. Bitcoin Cash (BCH) and Ethereum Classic (ETC) holders are trying to cover their positions in flat or minor loss or profit so they can shift to better opportunities available. DTX Exchange sees a massive inflow after the bounce as the other coins are in trouble.
Bitcoin Cash (BCH) Forming Double Bottom
Bitcoin Cash (BCH) is currently priced at $314.47, with a market cap of $6.2 billion and a circulating supply of 19.74 million Bitcoin Cash (BCH). Despite making a double bottom, Bitcoin Cash (BCH) is showing bearish sentiments. BCH has decreased by 25% over the past week.
The Bitcoin Cash (BCH) price is trading below the 50-day and 200-day EMAs, indicating strong bearish momentum, However, the $313.8 level is working as a strong support zone, which can push the price higher.
The broader crypto market’s negative sentiment could push Bitcoin Cash (BCH) below the important support zone. Overall, the current price action of Bitcoin Cash (BCH) is very weak until it crosses the $350 level.
Ethereum Classic Weekly Chart Still In Red
The last two day’s bounce hasn’t given much up move in Ethereum Classic (ETC); its weekly chart is still trading in red. Ethereum Classic (ETC) is trading in the red on the weekly chart. Despite the approval of a spot Ethereum ETF, Ethereum Classic (ETC) remains in bear strength. Ethereum Classic has a market cap of $2.6 billion with a supply of 148,230,132 ETC.
However, Ethereum Classic (ETC) shows a reversal in the last two days. It has gained around 16% over the past 2 days while 19% down over the past 7 days. Analysts believe these gains could be a potential reversal point for Ethereum Classic (ETC).
DTX Bringing New Revolution In Exchange Industry
It’s been a very rough week for the crypto markets, but one project has remained steady: the DTX Exchange presale. DTX Exchange aims to bridge traditional finance (TradFi) and decentralized finance (DeFi). It will allow people to trade crypto alongside forex, stocks, bonds, and Contracts for Difference (CFDs), with lightning-fast transaction speeds of 0.04 seconds.
This upcoming exchange will bring all these products together and thanks to its decentralized nature, traders won’t need to complete KYC.
While all presales carry some risk, investors are showing strong interest in DTX’s new concept. The team has reported that around 10,000 different investors have already raised over $1.2 million.
DTX is now in the second round of its presale, about halfway through this stage, with the token priced at $0.04. Experts predict that if successful, the coin could potentially increase in value by 100X in 2024.
Learn More About DTX Exchange
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