Sentiment in the crypto market has been gradually improving this week. One major event that has caught the attention of crypto enthusiasts is an announcement that the SEC is now reviewing Ripple ETF applications from Bitwise and 21Shares. An approval could finally spark a major XRP price rally.
Also, Cardano (ADA) and the trending DTX Exchange (DTX) arealso drawing attention for their respective developments. Cardano has seen increased interest due to ongoing discussions about potential ETF approvals, while DTX Exchange is gaining traction for its unique approach to integrating traditional finance (TradFi) with decentralized finance (DeFi).
SEC Approves Ripple (XRP) ETF for Review
Since the XRP price peaked above $3.3 in January, it has seen a steep decline. CoinMarketCap’s data shows that the XRP price tested lows at $2.2 this month. However, the XRP price has remained in the $2.0-$2.8 range over the last month. However, a major event could change the XRP price trajectory in the coming weeks.
The Security and Exchange Commission (SEC) has announced approval to begin reviewing Ripple ETF applications. Two ETF applications from the top asset managers, Bitwise and 21Shares, are currently under review. With the XRP recently declared not a security, analysts believe that the chances for an XRP ETF to get approved are high.
Cardano (ADA) ETF Approval Could Fuel Momentum
Similar to XRP, there have been several Cardano ETF applications. According to AMCrypto, the probability that an ADA ETF will be approved this year is above 70%. A potential approval could spark a massive Cardano momentum
However, in the meantime, the Cardano price has been under strong bearish sentiment. On the 30D chart, the Cardano price has declined by more than 30%, correcting with the broader crypto market. As a result of the recent correction, the Cardano price has remained in the $0.60-$0.80 range in the last two weeks.
DTX Exchange (DTX) Bridges TradFi With DeFi
While crypto and the DeFi market have grown over the last few years, it has yet to achieve full integration into traditional finance (TradFi). DTX Exchange is solving this segmentation problem. creating the first crypto exchange where users can trade stocks, options, forex, bonds, ETFs, and commodities. In all, over 120,000 different assets are available on the DTX Exchange.
In addition to giving its users access to the $690 trillion OTC derivatives market, DTX gives users access to advanced trading tools and leverage of up to 1000x. Holding DTX coins provides users with decision-making power over project development and lower trading commissions while granting exclusive opportunities for discounts. In return, stakers of DTX can earn up to 33% APY.
The platform’s native token, DTX, offers users benefits such as reduced trading fees, governance rights, and staking rewards. During its ongoing presale, DTX has attracted significant interest, raising over $14.8 million from over 600,000 investors through its ongoing crypto ICO. The DTX coin gained momentum, skyrocketing by 800% to $0.18 while outperforming numerous top altcoins.
Why DTX Exchange Stands Out
Cardano (ADA) and Ripple (XRP) may record substantial gains with the approval of their ETFs, but DTX is currently gaining recognition. DTX holds this position because its parent operates in the bigger $690 trillion OTC derivatives market. In addition, its lower market cap and higher APY for staking make $DTX more attractive.
Find out more information about DTX Exchange (DTX) by visiting the links below:
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