While Cardano (ADA) is currently in a consolidation phase after falling below the critical $1.00 mark, Mo Shaikh, the co-founder of Aptos (APT), stepped down from his position as CEO. Thriving against the odds, DTX Exchange (DTX) is disrupting the volatile crypto market with its highly bullish presale mania, which raised a jaw-dropping $10.44 million at $0.12 per token.
Cardano (ADA) Price Analysis & Future Outlook
The recent decline in Cardano’s ADA price began after the cryptocurrency faced rejection at the $1.120 resistance zone, a level that has proven difficult for ADA to surpass. This rejection is part of a broader trend seen across the market, as major cryptocurrencies like Bitcoin and Ethereum have also faced downward pressure.
Cardano’s price dropped below multiple support levels, including $1.10 and $1.050, before finding temporary support around $0.9151. Cardano is stabilizing above the $0.940 level, a critical point that has allowed the asset to recover slightly. This recovery also saw ADA surpassing the 23.6% Fibonacci retracement level of the downward move from $1.1113 to $0.9151.
This suggested that while selling pressure remains, there is growing interest from buyers at these levels. One of the key developments in Cardano’s price chart is the formation of a bearish trend line with resistance at $1.015 on the hourly chart. This resistance point aligns with the 50% Fibonacci retracement of the recent decline, making it a significant barrier for ADA to overcome.
Aptos (APT) Co-Founder And CEO Mo Shaikh Quits
The Aptos (APT) blockchain is a layer-1 proof-of-stake blockchain designed for enhanced scalability, security, and transaction speeds. Its competitors include Ethereum, Solana and Sui. The platform leverages a blockchain programming language called Move, created for Meta’s shuttered Diem project.
As of December 20, Friday, Mohammad Shaikh, co-founder and CEO of layer-1 blockchain Aptos Labs, has resigned from the top position to “start a new chapter,” with co-founder and chief technology officer Avery Ching taking over as the CEO. Shaikh co-founded Aptos Labs alongside Ching in 2021, assisting in its mainnet launch in October 2022.
He helped Aptos (APT) raise $400 million and establish key partnerships. Shaikh had previously worked at Meta, BlackRock, Boston Consulting Group, and Ethereum infrastructure firm Consensys. He has helped Aptos (APT) build strategic partnerships with BlackRock, Google, Microsoft, Mastercard, and Franklin Templeton.
DTX Exchange Defies Odds With Insane Presale Gains
DTX Exchange (DTX) shocked investors with its recent presale rally after the project bagged over $10.44 million in a mind-blowing time. Its super bullish performance has ranked it as one of the biggest ICOs of 2024. While its presale has firm support from bullish investors, the total circulating supply is running out rapidly, with over 85% already sold!
Investors and retail traders are increasingly adopting DTX Exchange (DTX) for its cutting-edge blockchain developments and its recent VulcanX blockchain launch. These technological advancements in the network thrust DTX Exchange (DTX) ahead of other obsolete exchanges that don’t offer much flexibility when trading cryptos.
Emerging DeFi Sensation DTX Exchange Goes Viral
This deFi newcomer set the crypto market on fire after its presale collection skyrocketed overnight, showing millions of gains before time. DTX Exchange (DTX) has raised over $2 million in a private seed round, over $100,000 in a single-day raise, and over 120 million tokens to over 300,000 unique wallet holders, with signs of gaining more soon.
As Cardano’s recent price correction brings Aptos (APT) and DTX Exchange (DTX) to the spotlight, investors are offloading their current digital assets to pump DTX’s highly successful presale, which is positioned for 25x opportunities. DTX Exchange offers reduced trading fees, governance and vote proposals, and potential airdrops in the near term. Join now!
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