The crypto market has been on a downtrend over the last few weeks. However, positive signs have emerged that could lead to a market recovery. There has been an increase in Bitcoin (BTC) active addresses.
Meanwhile, Pullix (PLX), a new DeFi project has caught on to the bullish trend, looking to outperform (SHIB) one of the top altcoins. Read on to learn about these developments and what they mean for the crypto market.
What you'll learn 👉
Bitcoin (BTC) Active Addresses Surge To New High
The number of daily active addresses on the Bitcoin (BTC) network has surpassed 1.1 million for the first time this year. Before this surge, the daily active addresses of Bitcoin had remained below the 1 million mark for most of January.
The report was shared by Ali Martinez, a renowned market analyst, who stated that it meant a renewed interest in Bitcoin. The increase in interest has positively affected the market, with the crypto market recovering over the last few days.
The price of Bitcoin has increased from a low of $38,500 above the $41,000 level. There are signs that the uptrend could continue. There has been an increase in outflows, suggesting reduced selling pressure. This could make BTC one of the top crypto coins to buy in the coming weeks.
Pullix (PLX) Gains Tractions DeFi Market Turns To Hybrid Platform
Pullix (PLX) has gained significant attention over the last few weeks over its potential impact on the DeFi market. The platform aims to address the issue of liquidity for users by providing a hybrid platform that combines the best features of centralized and decentralized exchanges.
With Pullix, users will enjoy speedy transactions and enhanced security and will hold the key to their assets without relying on third parties. The platform features perpetual futures, lending protocol, and NFT launchpad, with the Pullix Swap feature allowing investors to swap tokens using the liquidity pool.
The PLX token, which is currently in its seventh stage of presale and sold at $0.10, offers holders eligibility for the platform’s revenue share system. This feature provides daily revenue from the platform’s proceeds, and investors can earn passive income by depositing it in the liquidity pool for automated market makers.
The platform’s smart contract has been audited by InterFi Network, with the KYC verified by the BlockAudit Team. Analysts are predicting a 200% increase in the PLX token price during presale and a 100x increase after launch on exchanges, making Pullix a very promising DeFi project in the market.
Shiba Inu (SHIB) Price Stalls Despite Network Growth
Shiba Inu (SHIB), one of the top altcoins, has seen a growth in its network of recent. CoinGlass recently announced that the Open interest of SHIB has increased on CEXs, which is a bullish signal. There has also been a 300% increase in whale activity, as per data from IntoTheBlock.
Shiba Inu burn has been on the increase as the community tries to force a SHIB price increase. In addition, the team has announced that the highly-anticipated auto-burning machinery will go live in January.
Despite these bullish signals, the price of Shiba Inu has failed to break above the $0.0000100 resistance. However, if the momentum continues to increase, then SHB could experience a change of trend in the coming days.
Closing Thoughts
The increase in active adresses is a bullish sign for Bitcoin and the broader crypto market. However, when SHIB momentum stalls, Pullix has emerged as one of the top crypto coins to buy. With a scheduled launch for Q1, now is the best time to buy Pullix before its forecasted price rise.
For more information regarding Pullix’s presale see links below:
Visit Pullix | Join The Pullix Communities
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