Polygon has exhibited a turbulent trajectory recently. It reveals hints of an intricate pattern. An increase in whale activity and a decrease in daily active addresses serve as evidence for this. On the other hand, Crypto analysts claim that Chainlink (LINK), the decentralized oracle network, is facing a crucial moment as it struggles with a possible bullish reversal.
The shaking position of MATIC and LINK in this bull run has made room for new projects. Competition in the fast-paced world of cryptocurrencies fosters innovation. When new projects are introduced, investors who are constantly looking for the next big thing in the quickly emerging bull market are usually excited and speculate.
Investor interest in DTX, a project that has presented as a solution to investors’ difficulties for the current Polygon (MATIC) and Chainlink (LINK) networks, has recently increased.
Chainlink (LINK) At CrossRoads: Descending Trendline And Supportzone
Analysts’ discussion of Chainlink centers around a descending trendline drawn by connecting the lower highs of Chainlink’s prices. This line indicates a downtrend, as each peak price is lower than the previous one.
Technical analysts may perceive LINK’s pattern as a falling wedge since the support zone (green box) and the descending trendline (yellow line) appear to be joining forces.
The most recent data shows that the price of Chainlink (LINK) is $17.14, down -2.96% over the previous day. Thus, its recovery is anticipated to be sluggish while the downtrend is impending. The current state of affairs has compelled investors to look for emerging projects that promise massive gains.
Analysts Predict A Downtrend For MATIC
Polygon, formerly known as Matic Network, has emerged as one of the leading layer 2 scaling solutions for Ethereum. It has been widely adopted by developers and users alike due to its quick and inexpensive transactions, making it a major participant in the decentralized finance (DeFi) ecosystem.
On March 22, however, a reorganization (reorg) on the underlying Layer-1 (L1) Ethereum network resulted in a network outage on Polygon’s zkEVM. Network disparities brought about by the reorganization resulted in transaction errors and erroneous nonce returns. Furthermore, the resolution required emergency actions, highlighting the need for strong security measures.
According to cryptocurrency analysts, the Market Value to Realized Value (MVRV) ratio for MATIC was -6.54%. This indicates that there could be a loss if tokens are sold right away. This, along with the recent bearish trend for over two weeks, has compelled investors to look for more promising investment options.
DTX Exchange (DTX) Garners Investors’ Interest After Raising $150K
DTX Exchange (DTX) is a trading platform that enables users to trade cryptocurrencies, forex, equities, and contract-for-differences (CFDs). The platform boasts state-of-the-art infrastructure and innovative trading features, offering users unparalleled opportunities. Notably, DTX will be the first large-scale exchange to provide users with 1000X leverage, all while eliminating the need for KYC (Know Your Customer) requirements.
The platform effectively maximizes trading efficiency by utilizing distributed liquidity pools, ensuring seamless transactions with reduced slippage. Furthermore, it offers various products, including the DTX wallet and multitier accounts, catering to a wide range of user requirements and enhancing the overall trading experience.
DTX Exchange’s non-custodial wallet offers decentralization and security. Traders maintain total control over their digital assets and private keys even in the case of a security breach. This commitment to individual responsibility and ownership is a wonderful fit for the project’s ethos.
The ongoing presale presents marks a prime time for investors to be a part of DTX Exchange and play an integral role in shaping its future. With the total volume of decentralized exchanges reaching around $447 trillion in the past 24 hours, DTX is poised to capitalize on this market opportunity, especially given its presale price of $0.02.
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