Solana (SOL) is steadily ascending the market cap rankings, having recently surpassed Binance Coin (BNB) as demand for SOL surges. While the Solana price makes these notable gains, DTX Exchange (DTX) is also making headlines, crossing $7.05 million in funding before its ICO. With these two projects capturing investor attention, is there a clear shift in momentum within the crypto landscape? Find the details below!
Solana Price (SOL) Sees 30.7% Surge Post-US Elections
Since the conclusion of the US elections, the Solana price has made a strong recovery of 30.7% from $156.4 per SOL, showing an impressive 9% increase in the past 24 hours. SOL has reached a historic market cap peak of $95.98 billion, surpassing Binance Coin (BNB). With a market dominance now at 3.58%, the Solana price continues to trade above its 100-day and 200-day SMAs.
Per data on CoinMarketCap, the Solana price prediction sentiments have surged bullish by 85%. With 17 green days in the last 30 days, SOL is fast approaching its all-time high, buoyed by backings from institutions like Canary Capital and Grayscale. Moreover, Solana’s TVL registered over 10% increase across 14 of its top protocols over the past week.
BNB’s Make-or-Break Moment: What’s Next For The #5 Crypto?
In the past month, BNB registered 15 green days, with its trading trajectory consistently above its 100-day and 200-day SMA. This is fueled by BNB Chain’s new tokenization service enabling no-code asset tokenization, promoting adoption alongside its Gas-Free Carnival initiative. The chain’s deflationary model led to a 4.5% burn rate in Q3, stabilizing prices amid market decline.
Despite these positive developments, BNB has only recorded a modest 3.4% increase compared to Solana (SOL) over the past week, underscoring Binance’s ongoing volatility challenges. Although BNB has outperformed 70% of the top 100 cryptocurrencies, CoinCodex predicts a simple 20% BNB price increase by December 2024. The current sentiments around BNB are largely neutral as SOL continues to increase the market capitalization gap.
Assessing DTX Exchange’s Potential for Long-Term Growth
Lauded as the best presale in Q4, DTX Exchange (DTX) could be considered a wave nobody would want to miss. This innovative platform combines the strengths of CEX and DEX to redefine the trading experience. With a promise to revolutionize the $3 billion trading market, DTX emerges as one of the most promising cryptocurrencies to invest in.
DTX Exchange is all about amplifying returns with the least use of capital, ensuring entries for all classes of wealth. This exchange platform ensures that traders have access to deep liquidity, making a smoother and more effective experience.
It aims to address the challenges faced by traders and institutions with solutions that actually improve trading. These include enhancing liquidity through distributed liquidity pools, offline storage for wallet phrases, expanding asset classes through tokenization, and financial inclusion through wallet-based trading.
Moreover, its highly promising upside potential has driven investor interest to push its presale past $7.05 million. Currently in the fourth round of its presale, DTX tokens are valued at $0.08 each. This DeFi project stands out as a potential disruptor in the market, capable of challenging established players like Binance Coin (BNB) and Solana (SOL).
Learn more:
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The post Move Aside BNB, Solana Price Pushes SOL Ahead on Market Cap While DTX Exchange Crosses $7.05M Before ICO appeared first on CoinChapter.
