dYdX flips Uniswap as prime DEX by quantity; Pullix sees elevated demand

• Pullix (PLX) continues to draw dealer consideration as its presale surpasses $3.8 million.
• In the meantime, dYdX (DYDX), the native token of Cosmos-based decentralized alternate (DEX) platform dYdX Chain, has surged previously week.
• This comes as dYdX flips Uniswap (UNI) to turn out to be the biggest DEX by each day buying and selling quantity.

Because the market progress pushes the dYdX worth increased, analysts say a brand new buying and selling platform’s native token could possibly be the most effective crypto to spend money on as we speak. This outlook comes as dealer consideration more and more flips in direction of Pullix (PLX), a hybrid alternate mission that’s at present in presale. 

Right here’s a take a look at dYdX’s milestone. Additionally discover out why Pullix could possibly be one of many prime funding alternatives in 2024.    

dYdX Chain: DYDX surges as quantity flips Uniswap

dYdX (DYDX) at present sits prime of the rating as the biggest decentralized alternate (DEX) by buying and selling quantity. That is after the Cosmos-based dYdX surpassed Uniswap with a large 24-hour quantity of $625 million in comparison with Uniswap’s $512 million.

In response to CoinMarketCap knowledge, the dYdX (v4) 24-hour quantity accounted for almost 12% of the market share, whereas Uniswap was seeing 9.7%. The milestone for dYdX (v4) comes after a exceptional 12 months of progress for the buying and selling platform.

Full buying and selling on dYdX Chain launched in November 2023, and by the top of December, it had seen over $8 billion in quantity. The dYdX Chain hit the $1 billion mark in 24-hour buying and selling quantity on January 12.

Pullix (PLX): The brand new hybrid alternate

Curiosity in Pullix (PLX) has elevated as its presale accelerates in direction of the ultimate levels. Early fowl traders have seen the token sale increase over $3.8 million by stage 6 of the PLX supply.

The extent of pleasure round this mission is more likely to soar additional because it nears its launch. Nonetheless, as market specialists have opined in latest months, new exchanges that mix and ship the very best of centralized and decentralized exchanges could possibly be the way forward for DeFi.

Aside from providing a non-custodial buying and selling platform and incentivizing customers to supply liquidity, Pullix gives for portfolio diversification perpetual futures, CFDs and crypto. With PLX, you can even earn from yield farming and staking, incomes passive revenue as commerce.

Customers may also faucet into the alternate’s hybrid mannequin to leverage alternatives within the conventional markets, the place FX alone accounts for a staggering $6.6 trillion in each day quantity.

dYdX (DYDX) worth outlook

The dYdX Chain makes use of the layer 1 token DYDX as its governance token. The protocol helps staking. As such, dXdY’s market share enhance has coincided with a worth surge for the DYDX token, which reached highs of $3.15 on Thursday.

Prior to now month, DYDX worth has elevated by almost 15% and is up 32% since touching its all-time low of $2.30 on January 3, 2024. With the all-time excessive at $3.73, analysts say there’s room for DYDX to enter worth discovery amid a broader market rally.

Can Pullix (PLX) be a great funding alternative?

Whereas dYdX could possibly be the most effective DEX tokens to purchase now, Pullix stands out as a hybrid alternate mission, bringing the very best of each centralized and decentralized exchanges to the buying and selling neighborhood. The potential for PLX to realize amid market progress means the Pullix presale presents a chance.

Pullix’s native token will energy its “Commerce-to-Earn” ecosystem, giving holders a chance to earn passively from the alternate’s each day income.

Moreover, the present PLX presale worth in stage 6 is $0.08, up from $0.04 within the preliminary stage. With the curiosity in hybrid exchanges rising and Pullix concentrating on the revitalized DeFi ecosystem, post-launch prospects for PLX look nice.

This, and the truth that the buying and selling platform will burn 50% of the generated charges (in PLX), and supply 50% for staking rewards, makes for a tantalizing funding prospect.

Do you need to study extra about Pullix and its native token’s utility? Be part of the presale.