In 2024, this is the first time where altcoins have dominated more of the crypto market than Bitcoin (BTC). Hedera (HBAR) and DTX Exchange (DTX) contributed notably, delivering strong performances in the market.
Meanwhile, Dogwifhat (WIF) bottomed out with an overnight drop that could highlight an emerging problem. As traders head for profit on the rallies of HBAR and DTX, analysts revisit WIF’s market fundamentals.
Hedera’s HBAR Jumps 180% On FedNow Integration Rumors
Hedera has recently experienced a successful bullish run, supported by a favorable technical setup and positive investor sentiment. Over the past month, Hedera token notched 18 green days and surged 180% from $0.0463 to $0.1358. Currently, 60% of indicators signal a positive trend for HBAR, supported by a strong buy signal from its moving averages.
Additionally, rumors have emerged that the HBAR token was added to the US Federal Reserve’s FedNow payment system on November 24. If proven true, this development could provide an interoperability layer between Hedera and another already integrated altcoin, XRP. According to CoinMarketCap, sentiments surrounding HBAR are currently bullish.
Dogwifhat Netflows Signal Trouble After Sharp Decline in 10 Hours
Meanwhile, Dogwifhat just printed a sharp price drop from $3.57 to $3.08 in 10 hours. The 14% decline came after a period of increased volatility following the listing of Dogwifhat on Coinbase spot. Retail traders are skeptical of a potential pump-and-dump after Robinhood reportedly confirmed the leaked Dogwifhat listing news on November 25.
Technical indicators reveal that WIF has been trading below its 10-day moving average, indicating a potential bearish trend in the short term. On-chain data from the start of November shows that Dogwifhat has a total net outflow of $70.64 million. Investors are now closely monitoring the key support levels to see whether the correction will stabilize or go even lower.
DTX Exchange Picks Up Steam as Traders Bet on Hybrid Trading Platform
DTX Exchange is gaining traction as a trading platform that integrates digital assets and financial instruments into one layer-1 blockchain. By adopting a non-custodial approach, traders can trade, store, and manage assets on DTX’s Phoenix Wallet. Essentially, users will have complete control over their holdings and private keys, both online and offline.
With DTX Exchange, there’s no limit on profitability as users will be able to access the best market options through the 1,000x leverage feature and advanced training tools. Whether trading on the NASDAQ or acquiring real-world assets, DTX Exchange provides a secure ecosystem for retail traders while enhancing liquidity.
DTX Exchange also supports the automation according to user’s preferences. This functionality will allow traders to trade 24/7 without necessarily monitoring the market, hence no opportunity will be missed when it happens in the market. With customizable entry and exit points, users can easily fine-tune their algorithms to suit their trading goals.
Moreover, DTX Exchange is already pre-listed on CoinMarketCap, demonstrating its security and reliability. The DTX presale is currently in stage five, with tokens available for $0.10 each. Projections indicate that DTX’s listing price could reach $0.20, as Hedera and Dogwifhat holders are purchasing tokens before the presale concludes.
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