Ethereum (ETH) was one of the first casualties during the recent crypto crаsh, as it breached through several support levels, bottoming out at around $3,200. As the market still struggles to regain its footing, many veterans are brushing off this dip as just another day at work, and are confident that Ethereum will reach the prophesied $10,000 milestone at the peak of the 2025 bull run.
Meanwhile, a newcomer, Elluminex (ELX) has started topping headlines as the first-ever DeFi solution based on the TON blockchain. Let’s explore what makes this project special and what to expect from Ethereum.
Why Elluminex Could Redefine DeFi
Elluminex is emerging as the first dedicated DeFi solution on Toncoin’s blockchain, which directly taps into Telegram’s 950-million user base. By leveraging the powerful Toncoin ecosystem, Elluminex aims to address the inefficiencies that plague traditional single-chain platforms like Uniswap and PancakeSwap.
The Elluminex platform adopts an innovative cross-chain framework, allowing users to seamlessly swap assets across major blockchains, ensuring deep liquidity, low fees, and near-zero slippage for traders. Elluminex’s cost-efficient solutions stand out as a game-changer for DeFi users.
Elluminex prioritizes user privacy and control in a way few other platforms do. Unlike centralized exchanges, Elluminex does not require KYC verification, removing the risk of sensitive data leaks, and allowing users to protect their anonymity. As a non-custodial exchange, users will also maintain full control of their assets, ensuring a trustless and secure trading environment.
The $ELX token powers governance, staking, and exclusive platform features. Traders can stake $ELX for rewards of up to 18% APY, creating a compelling reason to hold the token for the long term. Moreover, Elluminex will grant early access to exclusive TON projects before they hit the markets, early holders will be able to gain an allocation at preferential prices, allowing them to maximize their returns after the official launch.
Ethereum Cautiously Recovers After Flash-Crash
Ethereum (ETH) was already locked in a narrow trading range after facing a rejection around the $4,000 mark. However, the market-wide downturn led to a breakdown of the short-term price structure, as Ethereum’s valuation dropped by nearly %15 in a week.
According to speculators, a V-shaped recovery could be in play for Ethereum, and exchange data shows that bulls are now stepping in and buying the dip. The long wick on the daily candle also corroborates this, as Ethereum has already rebounded from the $3,200 level.
If this momentum is sustained, Ethereum could potentially return to the high $3,000 level, and possibly attempt a reclaim of $4,000. On a macro level, the Ethereum uptrend is holding up, and once the market sentiment shifts to bullish again, the $10,000 target could still be on the cards in 2025.
Meanwhile, Ethereum ETFs are seeing steady outflows, as seasoned institutional players are mitigating risk. Over the last day alone, over $60 million in outflows were recorded, signaling a return to cautiousness after euphoria ruled the markets for the majority of November and December.
The Perfect Timing For Elluminex
As the first comprehensive DeFi platform on Toncoin, Elluminex could reshape the DEX landscape, leveraging its cross-chain framework and privacy-first model to challenge the dominance of established players.
Elluminex’s presale is set to launch at a time when market conditions are primed for growth. Elluminex offers early holders a chance at significant returns as the bull run ramps up. With 50% of its 350 million token supply available at discounted rates, Elluminex could replicate the success of earlier DeFi pioneers like Uniswap and PancakeSwap.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
