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The crypto market is getting set for the next big thing as the year draws slowly to a close. Ripple (XRP) and Cardano (ADA) have seen a lot of attention since the beginning of the year.
However, investors are turning to attention to innovative coins like DTX Exchange (DTX). They believe this altcoin can give better gains compared to Ripple (XRP) and Cardano (ADA). Experts expect the DTX coin price to pump higher this fourth quarter.
According to data from CoinGlass, Ripple’s (XRP) derivatives trading volume has skyrocketed by 32.72% in the past day. The metric, which tracks the turnover of perpetual futures for Ripple coin, has increased to $1.32 billion.
This increase in derivatives trading volume comes as the altcoin consolidates between $0.52 and $0.56 in the weekly timeframe. Ripple (XRP) is currently showing mixed sentiment: a 2% gain on the 7-day chart and a loss of 3% on the monthly level, according to CoinMarketCap. Steph_iscrypto, a top trader, told his followers on X that the Ripple price has entered Phase D of the Wyckoff Accumulation.
He expects the value of the Ripple crypto to soar in the coming months to a price target of $1.2. In the meantime, most of its technical indicators, like the Hull Moving Average (9), are showing a buy signal.
On X, Input Output Global (IOG), the firm behind Cardano (ADA), has announced the next phase of the Cardano blockchain in a series of tweets. IOG talked about Ouroboros Peras, which is an extension of the Ouroboros Praos protocol.
Its target is to solve one of the challenges in the horizon of transaction settlement or the time after which the likelihood of a transaction being reverted becomes insignificant. The idea behind Peras is to improve Praos by adding a system in which SPOs indirectly express support for the blocks slightly behind the top of the desired chain.
In other news, the Cardano coin is consolidating between $0.32 and $0.42 on the weekly level. According to CoinMarketCap data, the price of the token has increased by 2% on the weekly timeframe and 5% on the monthly timeframe. The cryptocurrency’s Hull Moving Average (9) is displaying a buy signal. So, we might see the Cardano price surge to $0.5 in the coming weeks.
DTX Exchange (DTX) is the latest crypto ICO that analysts have picked as a worthy contender within the crypto niche. The current price for DTX is $0.08. Experts say that in the next few weeks, this value will increase by 500%. Something that really makes DTX Exchange special is its innovative trading style.
Not only does it enable trading in cryptocurrencies, but it also introduces users to stocks, options, indices, and ETFs within a single trading environment. This means that DTX Exchange connects traders to the $714.7 trillion OTC derivatives market, along with the rapidly growing crypto market. DTX also has a hybrid approach, blending the best from both CEX and DEX platforms to offer its traders fast and cheap transactions, as well as anonymous trading.
Also, this platform provides many options for deposits and withdrawals, making the process as smooth as possible for the user. Compared to its market rivals, Binance and Bitget, for instance, the DTX Exchange is distinct since it allows users to trade the assets on the platform directly without asking the users to undergo any rigorous KYC check.
Although Ripple (XRP) and Cardano (ADA) are top crypto coins in the market, many people are beginning to focus on DTX Exchange. The synergy of the hybrid trading platform and the other features makes it stand out in the crypto market. Those who want to earn high profits this fourth quarter can look up to DTX Exchange as analysts believe it is the next blue chip crypto.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
