Altcoins Dip; Investors Shift to DTX Presale as Last Resort While Ethereum and BNB Prices Bleed

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The current session started with a massive altcoin slaughter, with established players like Ethereum (ETH) and Binance Coin (BNB) showing huge downtrends. The Ethereum (ETH) ETFs register a huge outflow, testifying to the altcoin’s dip.

Binance Coin (BNB), on the other hand, also bleeds profusely with a dominant red candle on all price charts. There is a visible decrease in the trading volume of Binance Coin (BNB) as the investor’s confidence shakes in the coin’s future trajectory.

DTX Exchange emerges as a source of solace for investors with its tremendous presale success and testnet launch. The platform has become a global icon due to its vast, growing fan base. Investors from established altcoins are shifting to DTX’s presale as it enters stage 3.

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Ethereum (ETH) ETFs Incur A Net Outflow Of 1,526 $ETH

The Ethereum (ETH) ETFs went through a net outflow of 1,526 $ETH, equaling $3.79M. Grayscale’s Ethereum (ETH) ETF (ETHE) dominated the $ETH ETFs in outflows. It recorded 3,676 $ETH (approximately $9.14M) in outflows.

Irrespective of this, the exchange-traded fund still holds a great number of $ETH. Hence, the total holdings of Grayscale’s Ethereum (ETH) ETF stand at up to 1,814,925 $ETH, with a value of almost $4.51B

As the statistics from Lookonchain imply, these outflows indicate a likely shift in the overall market dynamics. In this respect, institutional investors seem to be decreasing their Ethereum (ETH) and Bitcoin exposure. 

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Though the reasons for the respective withdrawals are ambiguous, the Ethereum (ETH) slump is the major contributor. Several other factors like risk management, profit-taking, or a wider market sentiment shift may also contribute to the downtrend.

Binance Coin (BNB) Price Analysis: BNB Slaughtered With 15% Decline In Trading Volume

The price analysis of Binance Coin (BNB) reveals that the coin is struggling to fight a bearish takeover amid the recent altcoin dip. Binance Coin (BNB) has decreased by 0.06%, trading the day at $544. The daily chart is dominated by a persistent red candle showing major slumps.

The weekly chart also paints a similar picture exhibiting a loss of 6.33% in the momentum of Binance Coin (BNB). The major decrease that has caused an alert among the investors is the intra-day decrease of over 15% in the trading volume.

Investors are concerned about the future trajectory of Binance Coin (BNB) as the coin has been decreasing continuously over the past month. The monthly price analysis reveals that the altcoin is down by 8.19% from its previous month’s value. Thus, investors are seen shifting to DTX Exchange amid the altcoin slaughter.

Established Coins With Testnet Upgrade Puts Focus On DTX Exchange (DTX)

DTX Exchange is an all-inclusive investing platform offering a variety of financial solutions to its members. It is a one-stop shop with over 120,000 financial assets, including equities, foreign exchange, cryptocurrencies, and more! The ease with which DTX offers investing experiences is widely recognized. Recently, the bull market was completely engulfed by the debut of DTX’s testnet.

With the launch of the DTX testnet, the platform is rising to prominence among the titans of cryptocurrencies while also making news for its unmatched trading feature. Users can now find out about the most recent changes and new features without endangering the main cryptocurrency.  

Before the code is added to the main blockchain, it is tested, bugs are found, and functionality is ensured on the DTX testnet. Analysts claim that the testnet has changed the game for the emerging platform by making DTX a significant competitor of the well-established blockchain.

Along with the testnet, the zero-commission policy, quick withdrawals, and quick trade execution of DTX Exchange attest to its reputation for taking a community-centric approach. The hybrid trading model is a perfect blend of the best features of CEXs and DEXs.

The native token DTX has caused a buying frenzy grabbing seasonal and institutional investors at a low-cap investment of $0.06. The platform has raised a massive amount of over $2 Million at the beginning of presale stage 3. 

Key Takeaways

The altcoin dip causes massive downtrends for  Ethereum (ETH) and Binance Coin (BNB). Investors, therefore, are shifting to DTX Exchange as the testnet launch adds to the buying frenzy.

Learn more:

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