Solana (SOL) and Ethereum (ETH) are two of the market's most popular and well-established altcoins. However, one altcoin has been making waves in the industry and is slowly climbing up the ranks – Pullix (PLX). This newcomer has burst onto the scene as a 'Binance Killer,' and the $7 million raised so far during the presale shows investors are taking notice. Let's jump into the details.
The Pullix exchange aims to address some of the most pressing issues in the trading exchange industry today, including liquidity problems in DeFi, security concerns with centralized exchanges, and high fees.
Pullix is utilizing a hybrid approach that combines the best of centralized and decentralized exchanges to do this. The idea is to provide users with the convenience and speed of centralized exchanges while also incorporating the security of decentralized exchanges.
Pullix maintains user privacy by allowing anonymous trading without needing KYC procedures. Users can simply sign up with their email addresses and start trading immediately. No longer do they have to jump through bureaucratic hoops just to participate.
Pullix offers advanced AI-powered trading tools, margin trading, and copy trading to cater to both novice and seasoned traders. Such features are rare to find on a decentralized exchange platform and give Pullix a strong competitive advantage.
The PLX token is the native currency of the Pullix ecosystem and will offer trading fee discounts, staking rewards, governance rights, and access to new features. The team will regularly conduct token buybacks, with 50% burnt and the other 50% rewarded to token holders, thereby creating a deflationary model.
PLX tokens have climbed 250% to the current price of $0.14 in the final presale phase. This current price is the last chance to buy discounted tokens before they hit other exchanges and the market wakes up to the potential of Pullix.
Analysts believe that Pullix could take the crown as the top exchange in the industry if it continues on its current path. Such bullish views have given rise to 100x predictions for the PLX token when the platform launches and mainstream adoption follows.
Despite a slow couple of years, the Ethereum train is well and truly back on track after breaking the $2,100 resistance that held the price down for multiple years. Ethereum is now trading at $2,923 after finding resistance at the $3,000 level. But what has caused Ethereum to spike suddenly after a stagnant period?
The first catalyst to discuss is the anticipated EIP-4844 upgrade that promises to bring proto-danksharding to the fore. Scheduled for the first half of 2024, this upgrade will significantly reduce gas fees and make Ethereum more usable for everyday transactions.
Another major driving factor is the anticipation around a spot for Ethereum ETF approval in the U.S. The excitement around the Bitcoin ETF sent the asset soaring from below $16,000 to over $40,000 before any approval, and a similar scenario is expected for Ethereum.
Market analysts predict that Ethereum could test the psychological $10,000 level should these two catalysts go as planned. However, it is also worth noting that Ethereum already has a market cap of $350B, and gains will be slower as the market cap increases.
Perceived in 2022 as a faltering project closely associated with the disgraced Sam Bankman-Fried, Solana has risen from the ashes to become one of the community's favorite projects. The price of Solana has surged from $8 to $120 in just 12 months, and the future is looking bright for SOL.
Solana's critical advantages over Ethereum and other blockchains are its incredible transaction speed and low fees. While conducting a token swap on Ethereum can cost $10 – $50, Solana can do the same for just a few cents.
Unsurprisingly, the Solana TVL has surged from $210M at the start of 2023 to $1.99B today as more DeFi protocols migrate to the network. Solana is also becoming the chain for memecoin trading as people can trade in and out of these assets with $10 and still be profitable.
Unfortunately, the Solana chain went down for the first time in almost a year last week. The Solana haters came out in full force, with many claiming that the network could not handle mass usage. The good news is that Solana has brought Jump on board to introduce new validator clients, so we are unlikely to see a repeat of this in the future.
The technical analysis highlights the $120 price level as the next resistance to be broken before the bull run can continue. Once this level is surpassed, Solana is expected to test the 2021 peak of $260 before heading toward the $1,000 level before the end of 2024.
For more information regarding Pullix's presale see links below:
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