Ethereum (ETH) Whales Dumps All Their Monero (XMR) After Binance Delisting To Buy Into Pullix (PLX)

Following Binance’s delisting of Monero (XMR) and other privacy coins, Ethereum (ETH) whales have dumped their Monero holdings to buy into the Pullix (PLX) presale before all the available tokens are sold out. Let’s dive into the reasons behind this sudden move.

Ethereum (ETH) Price Prediction 2024

After a bearish few years and a falling ETH/BTC ratio, Ethereum is now showing early signs that a fresh bull run might be in the making. The leading altcoin has rallied from $2,168 at the end of January to a recent peak above $3,000 as liquidity flows back into the ecosystem.

Notably, this price surge confirms a strong break above the $2,100 resistance level that has held the Ethereum price down since May 2022. The bulls are now targeting new all-time highs if Ethereum can close above $3,000 on the daily chart.

It isn’t just technical analysis that has the bulls excited, however. Ethereum is about to experience the EIP-4844 upgrade in the first half of 2024. This enhancement aims to introduce proto-danksharding to enhance scalability and transaction speed.

Then, there’s the potential for a spot Ethereum ETF to launch and drive institutional investment, with Blackrock filing in November 2023. However, approval of an ETF isn’t expected until late 2025 or even early 2026.

If all goes well, all this bullish news could take Ethereum to the coveted $10,000 price point by the end of 2024. But what about the recent move by Ethereum whales to dump their Monero holdings and buy into Pullix?

Monero (XMR): Widespread Delistings from Major Exchanges

Monero is a cryptocurrency that hides all transaction information to ensure privacy and anonymity for its users. While this feature is great for those who value their privacy, it has led to Monero being used for illegal activities and money laundering.

Regulators worldwide are now clamping down on Monero and other privacy-focused cryptocurrencies, causing several exchanges to delist them. Binance officially removed Monero from its platform on February 20th in an attempt to win over U.S. regulators who have been scrutinizing the exchange’s activities.

Binance isn’t the only exchange to delist Monero. Huobi delisted Monero in late 2022, while OKX removed Monero trading on January 4th, 2024. The amount of leading exchanges delisting Monero has caused concern for its future growth and adoption.

The announcement of the Binance delisting caused the Monero price to fall from around $123 to a low of $109 just 10 hours later. Monero is now trading at $122 after the initial shock of the announcement has worn off.

Reactions from the Monero community have been mixed. While some enjoyed trading in and out of positions on Binance, the die-hard Monero supporters think that the anti-establishment coin should never have been listed on such a centralized exchange.

Pullix (PLX) Attracts Major Investment During Presale

The decision by Ethereum whales to funnel their investments into Pullix (PLX) rather than other cryptocurrencies is a testament to the industry-defining potential of this project. The $7.2 million raised so far during the presale only adds to the confidence surrounding Pullix’s future growth.

Pullix distinguishes itself by offering a hybrid exchange model that merges the best features of decentralized (DeFi) and centralized financial (CeFi) exchanges. This model addresses key issues such as liquidity, security, and user experience, which have been holding back the mainstream adoption of decentralized exchanges.

Pullix pioneers a revenue-sharing model that rewards token holders with a share of the exchange’s profits in proportion to their holdings. This incentivizes long-term investment in Pullix and aligns the community’s interests with the project’s success.

Moreover, Pullix provides anonymous trading across all assets — including forex,  stocks, commodities, and more — without requiring KYC or AML checks. The ability to trade multiple assets without compromising privacy is a powerful feature that sets Pullix apart from other exchanges.

The PLX Token Opportunity

PLX token holders enjoy reduced trading fees, governance rights, and the opportunity to stake their tokens for passive income benefits. The token’s utility is designed to increase demand and incentivize user growth.

While the platform has yet to launch officially, keen investors are already buying into the presale in anticipation of a successful launch. PLX is now priced at $0.14 in the eighth presale phase after a 250% rally from the first phase price of $0.04.

The platform’s visionary hybrid model and revenue-sharing mechanism position it as a significant player in the trillion-dollar exchange market. Analysts are already predicting 100x gains for those who manage to grab the last remaining presale tokens.

For more information regarding Pullix’s presale see links below:

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