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The market has recently been buzzing with speculation about DTX Exchange, hinting that it could rival established tokens like Solana (SOL) and Jupiter (JUP). Much of the conversation surrounding DTX Exchange has been fueled by the recent launch of the Phoenix Wallet, which reportedly raised $6.2 million for the platform.
In this article, we will explain how Phoenix Wallet can be a great contribution to DTX Exchange, to strengthen its place among DeFi leaders like Solana (SOL) and Jupiter (JUP).
Solana (SOL) broke $180 for the first time in three months recently. Although it has dropped to a current value of $174, it is still up by 5% over the past week, driven by Bitcoin’s increase. Analyst Xanrox pointed out that the current positive price pattern displayed by Solana (SOL) may lead it to the $383.39 target price within the next year.
Despite this, Xanrox still has a short-term negative sentiment concerning Solana (SOL), suggesting a bearish target of $147. Moreover, Solana’s RSI is currently at 71, and the stochastic oscillator is at 81.2, revealing that now is probably a good time to expect a price drop in the token.
Jupiter (JUP) is trading around $1.14 today, having increased by 12% in the last month. Subsequent analysis provides evidence that Jupiter (JUP) still has chances of rising further. Technically, Jupiter (JUP) has gone above the Ichimoku Cloud, which indicates that buyers are in full control and that market sentiment is bullish.
Likewise, the momentum of Jupiter (JUP) is bullish according to the Aroon indicator, which currently reads 100%. If buyers can maintain Jupiter’s (JUP) current bull run, they may drive its price past $1.23 and then to $1.38, which is its six-month high.
DTX Exchange is indeed poised to establish itself in the DeFi market, especially through the new Phoenix Wallet. In this regard, the majority of analysts are convinced that the platform will not only attract investors but will also join Solana and Jupiter as one of the leading DeFi coins.
The Phoenix Wallet is known to be an extremely private Web3 custody service that lets a user pay, lend, or transfer cryptocurrency. Its integrated layout enables traders to work with more than 100,000 financial instruments on a single platform, thus making crypto trading easier and more reliable.
Investors are particularly intrigued by DTX Exchange’s unique approach, which combines the benefits of both centralized and decentralized exchanges. This platform has all the advantages of centralized options—speed, and all the advantages of decentralized ones—anonymity and transparency.
Currently, the DTX utility token is in the fourth stage of its presale, priced at $0.08. In a few weeks, it will advance to the next phase, where the token price will increase to $0.10. Better still, once DTX is listed on a top-tier crypto exchange, its value could surge significantly, making it one of the most attractive investment opportunities today.
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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.
