The cryptocurrency market recorded increased volatility in October 2024, resulting in steep price drops. Amidst the chaos, Dogecoin (DOGE) has shown a resurgence in activity while NEAR Protocol (NEAR) struggles to regain after recent losses. Many traders now favor DTX Exchange (DTX) for its huge growth potential and advanced features.
DTX has rapidly gained attention for its innovative hybrid trading platform. Here is why DTX Exchange is a preferred investment option over Dogecoin and NEAR Protocol!
Dogecoin Surges in Active Addresses as Whales Hold Steady
As market uncertainty increases, many cryptos have recorded massive drops. Amid the chaos, there has been a notable increase in Dogecoin activity. The largest meme coin experienced the largest increase in active DOGE addresses in the past six months.
Whales seem to be holding on, positioning themselves for more bullish momentum. Analysts believe the whale activity could mean that a much-expected rebound in DOGE’s price is coming up.
According to Ali Martinez, a renowned crypto analyst, active addresses increased to 84,306, highlighting a resurgence in user interest and engagement within the Dogecoin community. The surge may represent a possible bullish sentiment among investors because increased activity correlated with enhanced trading and accumulation patterns.
Since recording a recent peak on September 28, 2024, DOGE lost 18% of its value. However, it seems to have recovered consistently in the first week of October.
On October 7, DOGE was trading at $0.1111, down 7.77% in the past week. Experts say DOGE will rise to $0.1315 this month, supported by increased whale activity.
DTX Exchange Gains Momentum Promising 55x Growth Potential
Although the crypto market dropped sharply on October 1, 2024, investors have been confident about Dogecoin and NEAR Protocol’s recovery. Despite their consistent recovery, investors are now focusing on the DTX Exchange. DTX is still in its presale stage and has raised over $3.5 million without signs of slowing down.
DTX Exchange is designed to create a transformable trading platform with RPC functionality that offers smooth access to at least 120.000 asset classes, including forex, bonds, gold, commodities, and crypto, through its hybrid platform.
Furthermore, the DTX Exchange ecosystem was developed to protect users from trading hiccups and hacks from unauthorized external operators.
Besides having an advanced trading interface, DTX Exchange also consists of a custom-generating wallet and decentralized applications (dApps) that allow traders to manage their commodities and assets. The ecosystem represents everything traders need for the DeFi setup and enjoys a user-friendly experience.
The new platform is underpinned by the DTX utility token, which has many use cases and is involved in nearly all transactions on DTX Exchange. The token’s primary use cases include giving investors access to multiple data analytics tools and reduced fees. Additionally, DTX’s massive growth potential is attracting many investors.
Currently, in Stage 3 of the public presale, the DTX coin is trading at $0.06, a 200% profit from its initial price of $0.02. Interestingly, its value will increase by 33% to sell at $0.08 after DTX moves to Stage 4 of its presale.
On that note, a reputable crypto influencer and YouTuber, Crypto Legends, insists that DTX could see a whopping 55x price pump after it launches on the mainstream markets.
NEAR Protocol Sees Investor Confidence Despite Turbulence
Because of the general crypto market drop on October 1, 2024, NEAR Protocol’s token lost over 18% of its value within a week. The market drop pushed NEAR to $4.51, a 16% loss on its market capitalization.
NEAR Protocol investors are confident since the coin has been up 42.13% in the past 30 days. Since bullish market experts say NEAR Protocol might recover its glory days above $9.05 in the coming bull market, most NEAR investors are taking advantage of the current pullback as a chance to accumulate.
On August 12, NEAR Protocol completed its NEAR 2.0 system update, integrating blockchain sharding into its ecosystem. This development enabled it to support increased developer and user adoption of the NEAR project, increasing its value.
With such developments, NEAR is expected to increase its value massively in the coming weeks. On October 7, NEAR was trading at $5.25, down 2.17% in the past week. Analysts say NEAR will rise to $5.85 this month, supported by increased buying pressure.
However, investors are turning to DTX since it promises the biggest growth potential in the market.
DTX Exchange Attracts Dogecoin and NEAR Protocol Investors
The recent volatility in the crypto space sparked major changes in investor behavior. Dogecoin saw a resurgence in activity, with a steep rise in active addresses indicating renewed optimism among investors. Meanwhile, NEAR has struggled, with investors cautiously eyeing its recovery.
Nonetheless, DTX Exchange has emerged as a once-a-lifetime investment opportunity, appealing to the market with its advanced hybrid trading platform, massive growth potential, and strong security features.
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The post Active Addresses On Dogecoin (DOGE) Soar, See Why Investors Favor DTX Exchange (DTX) Over NEAR Protocol appeared first on Crypto News Land.