Solana and DTX To Make New All Time Highs In August; Polkadot Price Likely To See Further Decline
This content is provided by a sponsor
/DTX Exchange/ – The Polkadot price is poised for further declines as it continues its bearish trend, while Solana shows a promising surge in transactions and bullish momentum, hinting at a potential new all-time high in August.
On the other hand, investors are gravitating towards DTX Exchange due to its innovative features and a successful presale, alongside analysts’ forecasts of a substantial ascent in the upcoming weeks.
Let’s explore how you can strategically position yourself for the projected gains!
Solana (SOL) Set To Surpass ATH In August
Market observers have noted an increase in the transactional activity of Solana (SOL), the fifth largest cryptocurrency by market capitalization. They’re tying this increase to the booming expectations of a spot Solana exchange-traded fund (ETF) approval by the U.S SEC.
Solana tokens gained over 18% in the past week outperforming larger cryptocurrencies like BTC and ETH. On Monday, the token traded for over $180, setting a new three-month high. Following this, analysts have predicted a new ATH for Solana by August.
As at press time, Solana’s price stands at $176.90, reflecting a 3% increase over the past 24 hours as its market cap reaches $79.5 billion. With Solana currently just 32% below its all-time high, there is growing anticipation in the market that the positive momentum will drive it to a new ATH.
Bears Take Over Polkadot’s (DOT) Market
Once a top crypto contender, Polkadot (DOT) is now struggling, with signs pointing to further declines. The Polkadot price has been fluctuating over the past months, which has affected its market dominance and value.
Messari reports a Sharpe ratio of -0.99, indicating poor risk-adjusted returns, far from the ideal ratio above 2. While its negative ratio suggests limited short-term gains, the Polkadot price is currently trading at $5.85, 89% down from its peak despite a 2% rise in the last 24 hours.
Moreover, Polkadot is underperforming 73% of the top 100 cryptocurrencies. Its technical indicators such as, trading below the 20 EMA and the 200-day SMA, along with an RSI under 50, support the bearish outlook. This has prompted investors to consider alternatives like DTX Exchange for massive returns.
DTX Exchange (DTX) Set For A Rise In The Coming Weeks
DTX Exchange (DTX) is currently trading at $0.04 per token, and is poised for a surge with its innovative trading features and diverse asset offerings, which includes cryptocurrencies, forex, equities, and contracts-for-difference (CFDs).
Its groundbreaking 1000X leverage to users without any mandatory KYC (Know Your Customer) requirements, is a game-changer, allowing traders to maximize positions with minimal capital.
Enhanced by distributed liquidity pools and non-custodial wallets for secure asset storage and user autonomy, DTX Exchange aligns with blockchain’s ethos of security and ownership.
As a next-gen platform, DTX Exchange caters to diverse trading needs across global markets through its combination of DEX and CEX exchanges, offering reduced fees, premium features, governance rights, and potential airdrops.
Moreover, investors are moving to DTX Exchange because analysts have predicted a new ATH in the presale momentum of its current stage in August, having raised over $2M in a private seed round and $570K in the stage 1 of its public presale in just four weeks.
Key Takeaways
As DTX gears up for an all-time high, Solana’s robust performance also signals a promising peak. In contrast, the Polkadot price is expected to face continued decline.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
