Pullix (PLX), a new presale token, has entered the cryptocurrency market, challenging the supremacy of altcoins such as Ethereum (ETH) and Injective (INJ). While Ethereum and Injective are on the rise, Pullix has had a 100% price increase in the last month.
Injective (INJ) Looks Forward To Token Unlock
Over the past week, the price of Injective (INJ) has seen quite a rollercoaster ride. Investors and traders are feeling the heat as they try to understand what the upcoming token unlock for Injective Protocol’s very own INJ means for the market.
On January 21st, the project will distribute about 3.66 million tokens. The cryptocurrency market is observing the Injective Coin response to the token unlock. Currently trading at $40, the Injective coin is up 14.1% and 53.2% on the weekly and monthly price charts, respectively.
Although the Injective coin is trending upward, resistance is coming up at $60. If it passes, it would increase to $70. The DeFi token may drop back below $40, though, if the bears return.
Ethereum (ETH) Dencun Upgrade on the Way, Bulls Expect Surge
The Ethereum (ETH) team made an exciting announcement on Thursday. Their Dencun upgrade is all set for a trial run on the Goerli testnet on January 17th. These Ethereum Improvement Proposals (EIPs) are expected to slash Layer 2 transaction fees by introducing ‘data blobs.’
Meanwhile, Ethereum’s price is enjoying a nice climb. Ethereum soared to $2,500 on Wednesday, riding high on the SEC’s alleged nod for the Spot Bitcoin ETF. Analysts say this rise might have been due to funds shifting from Bitcoin to Ethereum, giving the latter a nice boost.
Ethereum is now cruising above both its 50-day and 200-day EMAs, which sit at $2,231 and $1,959, respectively. The Bulls have their eyes fixed on $3000, and this upgrade could be their ticket there.
Pullix (PLX) Presale Record
Like Ethereum and Injective, Pullix (PLX) is one of the altcoins that have also seen parabolic price growth in the past month. It has skyrocketed 100% from a beginning price of $0.04 to $0.08, which is stage 6 of its presale.
During this period, thousands of people have bought the $PLX token. Also, the project has raised over $3,683,707 in funding, a sign of growing investor interest.
So far, in Stage 6, Pullix has sold 8,761,060. Only 52% of tokens are left before it moves to the next stage. Pullix is a DeFi project and trading exchange that combines CEX and DEX functionalities. The platform’s primary goal is not only to fix long-standing difficulties but also to offer solutions.
It is establishing itself as a top trading platform with zero commissions, tight spreads, and an added degree of transparency. The platform will also address the liquidity issue that has long affected the global adoption of DEXs.
This will be accomplished by encouraging users to contribute to liquidity and exposure to markets like FX, which has a high trading volume. Therefore, Pullix will be able to offer considerably more competitive pricing than other large platforms.
Additionally, it does not have a compulsory KYC process allowing traders to trade anonymously. Furthermore, the DeFi project enables users to simply save their own private keys. Pullix will be launching this January.
Injective and Ethereum have both seen bullish movement in the past month, but theirs is nothing compared to that of the DeFi token, Pullix. Analysts have forecasted a 100x price surge once it is listed on CEXs.