The post Ripple’s Legal Battle Continues But Market Interest is Fixated on This New Token as Solana Whales Enter in Droves appeared first on Coinpedia Fintech News
“Uptober” took a downturn following newly released inflation data, dragging Bitcoin (BTC) below $60,000. It is even worse for Ripple (XRP): the SEC recently filed an order to appeal a court’s final decision. Amidst this, market interest in DTX Exchange (DTX), a new hybrid exchange platform, is unchanged, with Solana (SOL) whales entering in droves.
This new blockchain-based project stands at the crossroads between TradFi and DeFi while combining the best features of centralized and decentralized exchanges. Besides its novelty, DTX’s significant upside potential also drives huge demand and interest.
DTX Exchange (DTX): Whales New Favorite
DTX Exchange (DTX) basks in the spotlight despite cautious sentiment in the broader crypto market. Following huge interest from Solana (SOL) whales, it crossed $4.1 million in funding, sparking discussion of it being Q4’s best presale.
Unsurprisingly, its astounding upside potential is one of its biggest attractions. As an emerging cryptocurrency, it has plenty of room for growth. Moreover, it presents a low entry at $0.08 per token in the 4th round—a budget-friendly coin. With a projected 65x rally after listing, it is one of the best cryptos to invest in, tipped to surpass top crypto coins like Ripple (XRP).
Further, its narrative is among the most bullish: a hybrid exchange platform. Unlike conventional exchange protocols, it will combine the best elements of centralized and decentralized exchanges, notably the intuitive user experience of CEX and DEX’s wallet-based trading and non-custodial storage. As it prepares to break into the $10 billion global trading market, it is a new DeFi project to watch out for.
Ripple (XRP): SEC’s Drama Continues
Ripple (XRP), a payment-based digital asset and a top-10 cryptocurrency, is one of the most popular names in the crypto space. It helps with cross-border payments, which has been a catalyst for growth since its launch. However, it has made headlines more because of its legal tussle with the US SEC than positive price actions.
The standoff started in 2020 after the regulator claimed Ripple (XRP) breached security law by selling XRP tokens to investors. After several back and forths, Judge Analisa Torres’s final judgment in August was a $125 million fine—a fraction of the SEC’s $2 billion claim.
While many thought this would be the end of the four-year legal battle, the SEC’s appeal was a turn that took many by surprise. As expected, the XRP price tumbled—a sharp decline from $0.66 to $0.53. However, an XRP price prediction hints at a comeback and many are optimistic it is a good crypto to buy at the current price.
Solana (SOL): US Inflation Data Dragged Down Price
Solana (SOL), a DeFi giant, is one of the biggest players in the crypto landscape. Hot on Ethereum’s heels, it facilitates the creation of decentralized apps (dApps) and hosts other cryptocurrencies. Moreover, Solana memecoins, one of the year’s biggest highlights, contributed to its ascent.
Its last big jump was driven by soaring interest in memecoins. During the March high, Solana (SOL) hit a year high of $200, outperforming most top altcoins. However, it plummeted following several market downturns and declining interest in memes.
The Solana price retested $138 following the newly released inflation data, which increased to 2.4%. While the initial reaction was bearish, a reversal is anticipated. It is tipped to resume its uptrend and next on its list will be flipping the $150 resistance—one of the altcoins to watch out for.
Conclusion
While the legal tussle between Ripple (XRP) and the SEC continues, Solana (SOL) whales have been doubling down on DTX Exchange (DTX). This new player, at the intersection of DEX and CEX, is the latest investor favorite, crossing $4 million in presale earlier this week. As it prepares to debut, it is a promising wave not to miss out on.
Learn more:
