AAVE has become a standout in the decentralized finance (DeFi) world due to its unique offerings, giving it an edge over other platforms. Meanwhile, DTX Exchange is gaining momentum, and experts believe it could surpass Cardano (ADA) by mid-2025.
With both projects showing strong growth potential, understanding the factors behind their success is key for investors. In this article, we will discuss why AAVE maintains its leadership and how DTX might outgrow Cardano in the near future.
Buterin sells ETH for ecosystem support, Deposits proceeds into Aave
For context, the wallet tied to Vitalik Buterin received two significant Ethereum transfers in August: 3,000 ETH on August 9 and an additional 800 ETH on August 30, totaling 3,800 ETH.
Following these deposits, the wallet started selling ETH, with 760 ETH sold shortly after the second transfer for $1.835 million in USDC at an average price of $2,414 per ETH. The sales continued, and by mid-September, the wallet had offloaded 950 ETH, amounting to approximately $2.28 million in USDC.
Notably, Lookonchain’s most recent data has revealed that the wallet deposited the proceeds—approximately $2.27 million in USDC—into Aave, a decentralized finance platform. Alongside this, 2,851 ETH, valued at $6.73 million, was also deposited into Aave.
As news of Buterin’s ETH sales circulated, speculation arose regarding his motives. Some suggested he was selling ETH for personal profit, but Buterin addressed these claims, explaining the purpose behind the sales.
Buterin further clarified that the recent sale on September 11, which was executed by a bio-defense group he funds, had been triggered by a pre-set cowswap TWAP order established on August 29.
In a related development, which came before the clarification, Buterin revealed that starting in 2025, he will only publicly mention Layer 2 (L2) solutions that have achieved a certain level of maturity, specifically those that have reached “stage 1” in development.
This change in approach signals Buterin’s intention to provide clearer guidance on L2 projects. Several ZK rollup teams are expected to meet this criterion by the end of 2024, indicating progress in the space.
Cardano targets 70% gains key support and Market rally potential
Cardano (ADA) was priced above a crucial support level around $0.30 on the daily chart. A potential recovery could push its price above the $0.39 resistance level.
Cardano (ADA) has been trading within a descending channel since the end of the March bull run.
However, a recent double bottom at the $0.31 price level suggests that Cardano may have bottomed out and could be positioned for gains over 70% if the altcoin market rallies when the Federal Reserve cuts interest rates in mid-September.
Traders might consider setting entry points around the $0.30 range. If Cardano (ADA) breaks downward from the descending channel, further analysis will be needed to assess future price movements.
The $0.30 price zone has been tested three times, with the August 5th candle briefly breaking below the lower trendline.
Crypto whales eye DTX Exchange after 200% presale surge
Crypto whales have shifted their attention to DTX Exchange (DTX) as a result of its outstanding presale success. This initiative may raise $3 million by the end of this month, having already raised over $2.5 million. The 200% increase in DTX's value so far, is a strong measure of its potential growth.
DTX Exchange is viewed as the next revolutionary platform by several YouTubers, including Crypto Legends, thus its performance has not been making news. In essence, DTX Exchange is going to introduce a hybrid trading platform that combines the advantages of DEX and CEX.
They say this as DTX Exchange brings something new – a hybrid trading model combining CEX and DEX’s best. Therefore, people can buy over 120K asset classes like crypto coins, gold and stocks in one place. Plus, DTX Exchange does not do any sign-up KYC checks, giving all complete privacy – a big advantage over its peers.
The DTX utility token will power this platform. Holding it will give you access to better analytics tools and smaller trading fees. It is now in Stage 3 of its presale and costs only $0.06. Those who bought it early are seeing a 300% return. However, this price will jump to $0.08 after Stage 4 begins, and experts predict another 60x surge once a Tier-1 CEX lists it in Q3 of 2024.
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