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A new DeFi token, Pullix, has entered the crypto market with the potential to surpass Bitcoin and Ethereum. Analysts believe Pullix‘s connection to other markets apart from cryptocurrencies will be a major catalyst for its price surge.
Bitcoin (BTC) Price Rallies 16%
Bitcoin (BTC) is the largest coin in the crypto market and has maintained that position in the last decade. According to CoinMarketCap, it is one of the highest-priced coins with a market cap above $900 billion.
In November 2021, the flagship cryptocurrency soared to a peak of $68,789.63 at the height of the crypto market bull run. Unfortunately, bearish pressure has set in, and Bitcoin is now trading at the $42,317.55 – $46,324.98 price range in February 2024.
The price of Bitcoin has increased 16.1% and 7.7% in the past month and week. It also has increased its year-to-date gain to 104.5%, a sign of bullish pressure in the market.
One major catalyst for the price uptick could be the increase in whale accumulation for Bitcoin and the increased adoption of Bitcoin ETF. Still, analysts are bullish on Bitcoin to set a new all-time high before the end of 2024.
Ethereum (ETH) Surge Ahead of Spot Ethereum ETF Approval
Ethereum (ETH) is the second-largest token by market cap and the largest altcoin. The price of Ethereum is currently fluctuating in the $2,279.43 – $2,461.85 price range.
Data from CoinMarketCap showed an increase of 6.3% and 11.9% in the 7 days and 14 days, respectively. This recent price rally comes amid the latest Ethereum upgrade in preparation for the Decun upgrade.
Also, the amount of staked Ethereum has also hit a milestone of 30 million. This signals high confidence among investors, which has reduced the amount of selling pressure in the market.
Currently, investors and market analysts await the verdict of the US SEC on May 23rd concerning the spot Ethereum ETF. Analysts have forecasted that approval would be a major catalyst for a price boost for the altcoin. As a result, they have forecasted a potential rally to $5,000 after the approval of spot Ethereum ETFs.
Pullix (PLX) Raises Over $5M From Presale As Investors Troop In
The crypto ICO of Pullix (PLX) has been one of the hottest topics in the crypto space, pulling in over $5 million, demonstrating strong investor interest and faith in the DeFi project. This platform is unique in that it is a hybrid exchange that offers a wide range of other assets in addition to cryptocurrencies for trading.
Stocks, indexes, commodities, equities, ETFs, and currency pairs will all be available on the hybrid exchange. Users now have the opportunity to assemble a varied portfolio. The DeFi project also offers a variety of passive income opportunities, including staking, yield farming, and entertaining prize giveaways, in addition to trading.
Pullix will also use a non-custodial exchange approach to guarantee that investors maintain direct control over their funds. This will improve transparency and trust while lowering the risk related to third-party management.
The PLX token is currently offering an alluring $0.10 price during the seventh phase of its presale, with an additional 10% incentive for those who buy early. Pullix has been regarded by experts as a top crypto ICO because of its features and security protocols.
Within the first seventy days of the project’s launch, they anticipate a potential ten-fold increase in value. Thus, now is the best time to take advantage of this potential blue chip crypto project.
Final Thoughts
Although Bitcoin and Ethereum are two of the largest coins in the crypto space, analysts are bullish on the DeFi token, Pullix, to outshine both. According to Baby Pips, the forex market is the largest single market in the world and has a daily trading volume of $7.6 trillion.
This is just one of the markets Pullix will give investors exposure to. Such large trading volumes entering the Pullix exchange will help to push the value of its native token up the charts.
