DTX Exchange is making waves in the crypto world, raising over $2.5 million during its presale, driven by its innovative VulcanX protocol. With its Layer-1 blockchain, DTX is set to challenge major players like AAVE, and Chainlink (LINK).
The platform offers robust security features, non-custodial storage, and access to over 100,000 financial products. In this article, we will discuss how DTX’s unique offerings position it for future success.
Aave launches V3 deployment for stablecoin lending against wrapped eETH
Aave has launched its second v3 deployment dedicated to providing markets for a single asset.
On Sept. 9, Aave launched a v3 iteration focused on facilitating stablecoin lending against EtherFi’s Wrapped eETH (weETH), the largest Ethereum liquid restaking protocol.
The protocol exclusively supports weETH as collateral and allows users to borrow Circle’s USD Coin, Paypal’s PYUSD, and Frax’s FRAX stablecoins against deposits up to a loan-to-value ratio of 78%. Aave said the deployment was inspired by rabid demand for weETH on its main v3 platform.
“Currently, the demand to borrow against weETH collateral on Aave is so high that caps are filled within minutes each week,” Aave tweeted. “This new deployment will provide users with enhanced capabilities and improved liquidity options with an isolated market that will support EtherFi assets, specifically weETH.”
Chainlink’s social dominance surge signals potential bullish momentum
In a new post on X, the analytics firm Santiment has talked about how the Social Dominance has been looking like for Chainlink (LINK) recently. The “Social Dominance” here refers to an indicator based on the Social Volume metric.
The Social Volume tells us about the total amount of discussion that a given topic or term receives on the major social media platforms. The indicator determines this by reviewing posts/threads/messages on these platforms and noting which mentions the term.
This metric doesn’t count up these mentions itself, but rather the unique number of posts that contain them. The reason behind this methodology is that the pure number of mentions can sometimes be deceiving of the actual amount of discussion across social media.
This happens, for example, when only niche circles are talking about the term. They may partake in much discussion, but these high mentions don’t reflect the rest of social media. By counting only the unique number of posts, the social volume spikes when the talk is spread out more.
Social Dominance, the actual metric of interest here, keeps track of the percentage of the Social Volume related to the top 100 cryptocurrencies coming from a given coin.
Below is the chart shared by the analytics firm that shows the trend in the Social Dominance for Chainlink (LINK) over the last few months:
DTX Exchange (DTX) breaks out with A $2.5 Million presale rally
While the increased volatility means a steep decline for established altcoins like AAVE and Chainlink (LINK), it paints quite a different picture for DTX Exchange (DTX). This rapidly growing deFi network disrupted the market with its cutting-edge Layer 1 protocol launch, followed by the skyrocketing presale rally.
This project has already raised over $2.5M and could reach $3M before the end of this month. DTX’s value has skyrocketed by 200% already, a great signal for its future growth.
The DTX utility token will power this platform and all its features. It is in Stage 3 of its presale and costs $0.06. Whales are gravitating to it, as DTX holders will get smaller trading fees and better analytics tools. Additionally, a 33% value jump is coming once Stage 4 begins—a great return. Some experts predict a 60x surge once a Tier-1 CEX lists it in Q3 of 2024.
DTX exchange disrupts market: Becomes first hybrid blockchain
Brought to prominence through its growing market demand, the DTX protocol integrates a hybrid blockchain that converges CEX and DEX exchanges. This combination offers an intuitive user experience while delivering top-notch and end-to-end encrypted security protocol which brings various benefits for traders.
Furthermore, the DTX Exchange rewards its users through a ‘partner affiliate program.’ The platform offers a $1,000 bounty for every successful referral.
Learn more:
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The post VulcanX Chain Sparks DTX Presale Rally to $2.5M; AAVE and LINK Holders Join for 1505% Rally appeared first on Blockonomi.
