The Solana price fell over $20 yesterday. Over $360 million worth of SOL long positions were liquidated because traders anticipated a price increase. The market downturn triggered substantial losses, compelling the closure of these leveraged positions. SOL is the fifth largest cryptocurrency by market cap, and it has seen a notable drop of 37% in February.
The ongoing bearish market sentiment is responsible for the Solana price drop. With the upcoming release of billions worth of SOL, traders are consolidating their profits and moving their liquidity to emerging tokens like DTX Exchange. The platform is a new DeFI project in the crypto arena, revolutionizing the capital trading markets with its hybrid trading platform.
Solana Price Falls But SOL Trading Volume Surges
The Solana price is trading near $140, and with the upcoming substantial SOL unlock, the price will drop even more. However, the SOL trading volume has increased by 157% and this indicates improved participation from traders and investors despite bearish price action. The Solana price has lost crucial support at $155, and analysts are positive that it will drop to $120 this week.
Despite the market sentiment driven by the upcoming SOL unlock, whales appear to be accumulating SOL. There is a significant outflow from exchanges, which suggests potential accumulation and could create buying pressure. This could eventually help buoy the Solana price.
Despite the recent setbacks with the Solana price, institutional interest in SOL remains high. Solana is currently suffering in a bear market but top crypto experts believe the bearish outlook can be invalidated if the Solana price can cross $200 soon.
DTX Set to Surge 2x After Listing
The biggest headliner these days is DTX Exchange, which is making the news for its DeFi solution, which merges centralized and decentralized finance. The DTX Exchange presale is in its last stage and has raised over $15M. Like SOL, DTX has a solid real-world use case with a clear roadmap for revamping the trading markets.
DTX Exchange is gaining traction for its innovation and the platform’s tangible utility. The DTX platform will offer users conventional financial instruments like bonds, stocks, forex, gold, and ETFs, along with crypto derivatives. It will allow weary traders to use one seamless exchange for all their trading needs, and they will no longer have to jump between multiple platforms.
Once DTX Exchange launches, traders can use its suite of tools to streamline the entire trading experience. Not only will they have access to a comprehensive range of over 120,000 assets, but they will be offered institutional grade liquidity. The platform is expected to run at a speed of 200,000 TPS, which means orders and trades will be executed swiftly in real time.
The DTX Exchange will also offer AI-powered trading tools that will allow automated trades, smart trading bots, and predictive analytics. DTX users will be able to execute better strategies and make data-driven decisions.
Key Takeaways
The DTX token is currently priced at $0.18, and the listing price has gone up to $0.36. That is the easiest way to double your investment in this bear market. The buy-in is relatively affordable, and once listed, the DTX Exchange price is set to shoot upwards to unprecedented heights. Early presale investors have already made sizable profits and are holding on to the token because of its unmatched growth potential.
Currently, legacy coins like SOL are no longer investor favorites. The Solana price has had a disappointing run, and with projects like DTX Exchange that guarantee a 100% instant ROR, it is no wonder that investors are flocking to the DTX presale.
To know more about the DTX Exchange ecosystem, Check out:
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