The crypto market swung low, which might be the last big discount before a parabolic run. Reflecting bearish sentiment, the underwhelming performance of Arbitrum (ARB) continues. However, DTX Exchange (DTX), a new exchange-based token, has defied the broader market trend by exploding in presale.
It has raised over $6.4 million in early funding and is tipped to overtake top altcoins like Fantom (FTM) given its unique offering: a hybrid trading platform. Unlike existing players, it will integrate the best elements of CEX and DEX into a single platform—a one-stop destination for all trading needs.
DTX Exchange (DTX): New DeFi Project to Bet On
DTX Exchange (DTX) is a new exchange-based token but with a twist: it is at the intersection of traditional and decentralized finance. Users will be able to trade over 120,000 asset classes from stocks, bonds, ETFs, commodities, and tokenized financial instruments to cryptos.
Moreover, traders will enjoy the best of the worlds of DEX and CEX. Taking a unique approach, it will combine key elements of centralized and decentralized exchanges, notably distributed liquidity pools, wallet-based trading, smart contracts, and non-custodial storage of assets.
The above will see DTX shake up the $10 billion global trading market. Meanwhile, the presale has been selling out fast in the fourth round, already pre-listed on CoinMarketCap. A token costs just $0.08 and is projected to hit $1 before the year’s end, aiming to challenge the dominance of top players like Arbitrum (ARB) and Fantom (FTM).
Arbitrum (ARB): 80% Decline from January ATH
Arbitrum (ARB) is a popular name in the Layer-2 ecosystem and one of the top altcoins. The scaling solution uses optimistic rollups for improved speed, scalability, and cost-efficiency on Ethereum. It is a favorite destination considering it benefits from Ethereum’s security and compatibility while having higher throughput and lower fees.
Since registering an all-time high of $2.4 in January, Arbitrum (ARB) has been in a steep decline—an almost 80% downturn. The Arbitrum price is currently above $0.52, with a 5% decline on the weekly chart.
With further downturns not out of the question, traders have been taking a cautious approach. Technical indicators like moving averages point to sell, including the exponential moving average (10) at 0.5382 and the simple moving average (10) at 0.5340. The same can be said for the MACD level (12, 26), which is −0.0078.
Fantom (FTM): Further decline or a bounce?
Fantom (FTM) is a smart contract platform that provides DeFi (decentralized finance) services and solutions. It is a favorite destination among developers, considering it aims to solve problems like transaction speed. In addition to its solid fundamentals, it is among the top crypto coins.
The latest jump in Fantom (FTM) value can be linked to the release of Sonic blockchain’s litepaper, formerly known as Fantom. This migration to Sonic from Fantom has been a bullish catalyst, pushing it above $0.79 in October.
However, there has been a notable decline in the Fantom price, changing hands at $0.66—a 3% decline in the past 7 days. TradingView’s exponential moving average (10) is at 0.6806, hinting at “sell.” Meanwhile, the bull-bear power oscillator is at −0.0483, a buy signal. The coming days promise to be exciting, with FTM being one of the altcoins to watch.
Conclusion
The downswing in the Arbitrum (ARB) price has been a subject of much concern, while uncertainty grows about the next move of the L1 Fantom (FTM). Meanwhile, DTX Exchange (DTX), a hybrid trading platform with elements of CEX and DEX, is positioned as the best new crypto to invest in.
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