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The long-awaited Bitcoin ETF is expected to get approved by January, and two coins, Cardano and Solana, are gaining traction. In the excitement of the approval, their prices have risen.
As the adoption of crypto increases, traditional financial institutions have begun accepting crypto payments. As a result, Pullix, a blockchain ICO, has developed a hybrid platform. This platform offers trading of traditional assets and cryptocurrencies.
Summary
Cardano (ADA) Price on a Bullish Run
Altcoins like Cardano (ADA) have witnessed a high price surge lately. This is due to the prospects of a Bitcoin ETF launch. Analysts at Bloomberg predicted that the US SEC will greenlight all Bitcoin ETF applications in January.
In addition, the US central banks predicted three rate cuts in 2024. The central bank did not adjust interest rates at the meeting for the third time. This has increased investor confidence. Meanwhile, the Cardano coin is one of the market’s best performers.
This week, the Cardano coin has shone out. This week, it has been under selling pressure. Per CoinGecko, the token is trading between $0.435156 and $0.676342. The token has a weekly gain of 45.8% and a monthly gain of 79.1%.
Solana (SOL) Prices Rises 13.4%
Solana (SOL) was also part of the rally. According to CoinGecko, the Solana price has increased 13.4% in the past week. SOL initially fell below the $70 zone as selling pressure escalated at the mark. However, it has recovered as a result of the likelihood of the launch of a Bitcoin ETF.
The Solana coin rose from a 7-day low of $63.00 to a high of $77.32. On the upside, resistance is located between $72.40 and $75.00. if the Solana coin fails to surpass the $75.00 resistance, SOL might drop to $68.50. With more selling pressure, the token could fall to $65.50 and then $63.50.
The Pullix (PLX) Introduces Hybrid Exchange
Traditional financial institutions are currently adopting cryptocurrencies. They aim to make crypto investment open to their clients. Due to this, Pullix (PLX) has launched a hybrid (CEX + DEX) exchange. The exchange would offer the benefits of both CEX and DEX.
Transparency, security, decentralization, and liquidity are among the advantages of the Pullix exchange. Furthermore, users would have a wide range of assets from which to trade. The DeFi project has included traditional assets such as fiat, stocks, shares, and commodities.
One significant advantage is that traders can use cryptocurrencies such as Bitcoin and Ethereum as trading collateral. Pullix has been identified as a top cryptocurrency in the blockchain space by analysts. This is owing to its links to markets other than cryptocurrency. These markets have a high level of liquidity and trading volume. The Forex market is one of them.
This market has a daily volume of $6.6 trillion, according to the 2019 Triennial Central Bank Survey of FX and OTC derivatives markets. As a result, Pullix’s native token, PLX, is a top DeFi project to consider. The platform’s link to the Forex market will attract additional capital. Consequently, this will result in a rise in the token’s value.
Conclusion
While Solana and Cardano are rising, investors can still look at the Pullix blockchain ICO. The token is at the first stage of its token presale and is worth $0.042. Analysts believe its hybrid platform and multiple asset offerings increase its chances of more gains.
For more information regarding Pullix’s presale see links below:
*This article was paid for Cryptonomist did not write the article or test the platform.
