Despite Bitcoin’s recent new high, the broader crypto market experienced a huge dump on Wednesday due to the Fed rate cut announcement. Cardano (ADA) holders suffered huge losses after the triangle pattern broke down, resulting in a 13% decline from support.
ADA holders are now diversifying into DTX Exchange (DTX) as it continues the momentum with a 440% rally from November. The DTX token presale recently achieved another milestone, hitting $10 million in batch 6, solidifying its position in the crypto world.
Negative News Flow Drags Cardano (ADA) Price Down
In the last seven days, Cardano (ADA) has decreased by 16% due to internal conflicts among the leaders and weak market sentiments. It created a high of $1.32 in early December, but it has dropped below the $1 support level. The Cardano (ADA) market capitalization has also declined from $45 billion to $34 billion.
Source: CoinMarketCap
The conflict between Cardano (ADA) founder Charles Hoskinson and the Cardano Foundation’s leadership is growing more intense and public. The issue surfaced last week when a whistleblower accused the Foundation of self-interest-driven mismanagement. Hoskinson has since stated that he no longer sees the Cardano Foundation as “a part of Cardano,” citing its leadership’s alleged disconnect from the community.
Hoskinson recently urged the Cardano Foundation to consider relocating from Switzerland to places like Abu Dhabi or Wyoming. Unlike Switzerland, where the Foundation has operated under laws prohibiting community-based board elections since its founding in 2016, these jurisdictions would allow users to elect board members.
Macroeconomic changes and internal conflicts have severely impacted the Cardano (ADA) price. Currently, $0.90 is an important support level to watch because the next support level is around $0.70. Cardano (ADA) has a lot of overhead resistance to cross before it can resume the previous uptrend.
DTX Exchange (DTX) Aims To Revolutionize the Global Financial System
DTX Exchange is evolving traditional finance with the inclusion of global investment options in its unified platform. This hybrid platform creates an ecosystem in which investors from any part of the world can access any investment instrument regardless of location or background. DTX Exchange makes this possible with its innovative hybrid protocol and blockchain technology.
DTX Exchange brings the features of centralized and decentralized exchanges, allowing access to 12,500 assets such as bonds, cryptocurrency, stocks, and ETFs. With this exchange’s multi-assets trading facility, traders don’t have to cycle through different brokers or platforms. This inclusivity is revolutionary because it makes trading operations easy and seamless.
This trading platform uplifts traders with advanced trading tools like Phoenix Wallet, which increases the liquidity up to 1,000x, so traders with limited funds can create a big position and turn their lives around. This wallet has also been named the most secure because of the additional layers of security that safeguard users’ funds against online hacking attempts.
Beyond trading, the DTX token holds immense value for investors. Token holders get governance rights for the exchange and various incentives and rewards. One standout benefit is the VIP rebate program, which shares 3% of the exchange’s trading fee revenue with the large holders.
While Cardano (ADA) is facing the adverse effects of ongoing events, DTX Exchange is perfectly positioned to outshine it. Expert market investors believe that the DTX token, currently priced at $0.12, could surge by 7,400% within a few months of its mainnet launch.
Find out more information about DTX Exchange (DTX) by visiting the links below:
