The crypto market was highly turbulent at the end of May, as major outflows were observed this week. Cardano and Ripple have significantly underperformed, pushing their investors to seek other deFi tokens with 100x potential.
Cardano’s (ADA) market performance is subdued due to various factors. The lack of network development and low real-world use case puts the project low on the table of robust ecosystems. Similarly, Ripple is also under speculation amid the ongoing conflict with the U.S. Securities and Exchange Commission (SEC).
Global investors are changing sides to mitigate losses and take early positions in projects with massive potential before the summer rally begins. DTX Exchange has emerged as a top choice due to its ground-breaking ICO performance and innovative offerings in the trading sector, beating Ripple and Cardano in ecosystem development and emerging as the best ICO of 2024.
Cardano (ADA) Goes Sluggish as TVL Falls by $200 MillionÂ
The situation for Cardano’s ecosystem is getting alarming after its total value locked (TVL) fell drastically from $430 million to $230 million. This indicates a decline in interest in the DApps built on the Cardano chain. ADA is currently down by 2.2% on the weekly chart, with a falling transactional and NFT trading volume.
As ADA’s price has dropped below the crucial resistance level at $0.45, Cardano is struggling to maintain its market dominance. Shiba Inu and Toncoin are climbing above the table with rising market cap. Cardano, once a third-ranked crypto, is poised to slide below the top 10 rankings if it fails to display any price breakout above $0.6 in the next cycle.
Ripple (XRP) Price Struggles Amid Massive Dumping by Whales
XRP price has been struggling since the start of April due to its legal conflict with the SEC. Ripple’s response to SEC arguments about its financial condition and determining remedies has sparked a massive movement of XRP tokens. According to data, a whale has dumped 58.19 million XRP to Bitstamp and Bitso collectively via two transactions.
Ripple is down by 1% on the intraday chart with a slide below the crucial resistance level at $0.52. Ripple has also slid down in the ranking tables as its market cap continues to shrink amid investors selling their XRP tokens. The next major support for XRP lies at $0.5120 and if bulls fail to hold the price above, a further decline to $0.50 is inevitable, further triggering a bearish sentiment for Ripple.
1000x Leverage DTX Exchange Tops DeFi Market With $600k Presale
DTX Exchange (DTX) is strategically poised to take over the trading market with its revolutionary scope and innovative and advanced automation technology. The hybrid platform of DTX provides traders the unprecedented opportunity to capitalize 1000x in diverse financial markets including forex, stocks, cryptos, and equities.
The project’s future remains bright due to its robust security features and blockchain layer 1 technology. The automated trading platform offers exciting features such as analytical and statistical analysis, non-custodial wallets, and distributive liquidity pools, all in one of the fastest trading platforms leveraging a lightning-fast execution speed of 0.04 seconds.
DTX Exchange has shocked the crypto community by surpassing $600,000 in stage 2 of the public presale in just a few days. With over 20% of the DTX tokens sold, the project offers a lucrative opportunity to take early positions for $0.04. Once the presale hits stage 3, the token price will rise to $0.06 and potentially soar past $1 after the anticipated Q2 exchange listing.
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This article is not intended as financial advice. Educational purposes only.
