Disclosure: This article does not represent investment advice. The content and materials appearing on this page are for educational purposes only.
Monero (XMR) is neutral, according to technical analysis. This uncertainty about its future has left many investors undecided about diversifying with this cryptocurrency. Meanwhile, ethereum Classic (ETC) is in an uptrend. Pullix (PLX) is also gaining attention in the ongoing pre-sale.
The platform plans to introduce a community-supported exchange with no know-your-customer (KYC) requirements for trading over-the-counter (OTC) derivatives.
Monero retreats
XMR is stuck around $170, fluctuating between $165.21 and $173.77 last week.
If buyers take control, the coin could find support at $175. On the contrary, if the bears take control, XMR could fall to $137.
Monero is currently 68.82% below its all-time high of $542.33.
Analysts' Monero price prediction places the coin in the $187.27 area.
ethereum Classic surpasses $20
The ethereum Classic hash rate has been increasing since the ethereum Merge.
The fact that miners are switching from ethereum to ethereum Classic suggests a high demand for it.
Additionally, limited supply and the possibility of higher demand in the future due to tightened safety measures could support prices.
As the network attracts more developers and users, adoption could increase, which would increase prices.
Last month, ETC rose 10.5%.
Meanwhile, the coin rose from $18.51 to $20.34 last week, breaking through the $20 resistance.
Analysts expect ETC to reach $30.19 in the first quarter of 2024.
Exploring Pullix
Pullix is developing an online exchange that addresses the high fees, slow transaction times, and low liquidity in the decentralized finance (defi) scene.
PLX, the platform's token, is used for trading fees and offers holders rewards and other incentives exclusive to the platform. Users can bet and receive rewards.
Additionally, PLX can be bought or burned to reduce supply and increase its value over time.
Pullix simplifies pool creation by allowing users to deposit PLX, instantly creating a new pool.
In the initial pre-sale stage, PLX is available for $0.04. However, in the coming sessions, supporters expect more gains.
Conclusion
With Monero cooling down, market participants are exploring ethereum Classic.
However, with ETC's lower growth potential, web3 enthusiasts are turning to Pullix and examining PLX's deflationary model.
Half of the tokens that are not burned are given as rewards to ecosystem participants who provide liquidity.
For more information on Pullix pre-sale, please visit the details below:
Place: https://pullix.io/
Twitter: https://twitter.com/pullixmarkets
Telegram: https://t.me/pullixmarkets
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users should conduct their own research before taking any action related to the company.
