Although there was a recent upsurge in the crypto market, many cryptocurrencies failed to maintain their uptrend. Altcoins like Ethereum (ETH) and Shiba Inu (SHIB) are currently on a downtrend and could fall to former lows.
As a result, whales are moving to DTX Exchange to hedge their investments. Analysts forecast the value of DTX Exchange could increase by 10x before the year runs out.
What you'll learn 👉
Ethereum (ETH) Active Addresses Plummets, Price Drops
Cryptoquant data shows the number of active addresses on Ethereum (ETH) has been on a downtrend in the past year. According to data, Ethereum’s daily active addresses have reduced from a high of 382k to 312k. The analysts attributed the decline to the absence of new investors.
Meanwhile, the Ethereum coin was on an upward trajectory recently before meeting with resistance at the $2,729 region. Since then, the altcoin has failed to spark a recovery. Ethereum (ETH) is currently consolidating between $2.2k and $2.7k on the monthly timeframe. Ethereum price has dropped below the 50-SMA ($2,559.80) and 200-SMA ($3,099.05).
Still, analysts are bullish. AltstreetBet forecast the value of Ethereum crypto could pump to $3,200 in the coming weeks. Another analyst, RyandCrypto, has a higher price forecast of $5k.
Shiba Inu (SHIB) Whale Activity Soars
According to IntoTheBlock, whale transactions for Shiba Inu (SHIB) have risen in the past few days. The analytics firm said the memecoin has seen a significant increase in the number of large transactions. There has been a seven-day high of 383 major transactions on October 2nd. The increased whale activity for Shiba Inu crypto could be pointing towards an impending price recovery.
In the meantime, the Shiba Inu price has dropped to the $0.000016-$0.000017 range after its recent climb to $0.00002. This price decline has reduced the gains on the weekly and monthly timeframes. Still, the Shiba Inu coin has strong support around the 50-Day SMA ($0.00001463). Analysts expect a price rally to $0.00001859 in the next few weeks.
DTX Exchange (DTX) Brings Multi-Trillion Dollar Market To Crypto Traders
DTX Exchange (DTX) is building a platform that will mix the best of Centralized Exchange (CEX) and Decentralized Exchange (DEX). It will provide users access to trade over 120,000 classes of assets, including FX, bonds, and indices. While the connection to the $714.7 trillion OTC derivatives market is great, DTX Exchange also does not ask users for KYC or identification before they can trade. All they need is a username and password.
Also, DTX Exchange features advanced trading tools, charts, graphs, and analytical features; the traders get the best possible tips and are among the first ones who receive information on the market. These tools help traders to make great returns and increase their chances of profit-making. Furthermore, DTX holders can access other features, including non-custodial wallets and distributed liquidity pools.
At the moment, being in the fourth stage of presale, the price of DTX has risen by more than 200%. The token is currently sold at $0.06 and will grow 10x when the token goes live on CEXs. The project has raised over $3.5 million so far and is now on the road to $5 million. Those who have the DTX coin will enjoy certain bonuses and rewards and can take part in the decision-making process.
DTX Exchange Becomes a Safe Haven for Whale Investors
As pressure continues to mount on Ethereum (ETH) and Shiba Inu (SHIB), whales are flocking to DTX Exchange. This change shows that new DeFi projects like DTX Exchange have potential and could rise to become a major force in the crypto market.
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