Most cryptocurrencies continued their downtrend on Friday as the mood in the market remained tense as investors waited for the next catalyst. Bitcoin dropped below $59,000 while other tokens like Aptos, Celestia, and SATS fell by over 6.2% in the last 24 hours. Most of these tokens have moved into a deep bear market recently.
It is not doom and gloom though as DTX Exchange, an upcoming hybrid crypto exchange continued firing on all cylinders, as you can see on its website here.
DTX Exchange is thriving
DTX Exchange, a company that seeks to disrupt the crypto and stocks exchange industry, has raised over $1.36 million from global investors. Its token sale is in the second stage, with the coin trading at $0.04. It will then rise to $0.04, meaning that current buyers are getting a big discount and will get more tokens than when it moves to the third stage.
DTX Exchange’s goal is to radically disrupt existing exchanges like Uniswap, Raydium, PancakeSwap, and Orca.
As part of its strategy, the developers hope that the exchange will become an all-in-one platform for trading stocks, cryptocurrencies, commodities, and forex. No other decentralized exchange offers these assets in one platform.
At the same time, the developers hope that the DTX token will have more utility than existing tokens like UNI, CAKE, and RAY. Users will use it to pay trading fees on the platform as well as having discounts.
In addition, the token will give holders premium features and pay them loyalty rewards. Users will have a chance to earn rewards by staking their tokens. Staking is a process where traders earn rewards for just holding cryptocurrencies in their wallets. In some cases, these rewards could be in the double digits.
Analysts believe that DTX Exchange has a chance to become a disruptive force in the crypto industry. Beside, the exchange plans to have deep liquidity, have advanced security features, and have more assets than other exchanges.
Celestia, Aptos, and SATS retreat
DTX Exchange is doing well as most cryptocurrencies have remained in a deep bear market. Celestia, a popular network that offers modular scaling solutions, has dropped by over 75% from its highest point this year.
Similarly, Aptos token has crashed to $6.10 from a high of $20 in March. SATS has moved to $0.00028, down from the all-time high of over $0.00064.
This price action is mostly because of the weak sentiment in the cryptocurrency industry as the volume has dropped. Interest among investors has also waned as the number of social media mentions has dropped. The market cap of all Tether tokens in circulation has also dropped.
Still, analysts are optimistic that cryptocurrencies will start doing well this year. Besides, the end of the Summer season is continuing while the US presidential election is set to conclude in November. The Fed is also expected to slash interest rates in the next meeting. You can buy the DTX token here.
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