It’s the season of bears in the crypto market, and even the top altcoins are feeling the heat. NFT giant Solana (SOL) has sported downtrends for the last 30 days, while Ripple (XRP) isn’t faring much better despite placing its case with the SEC on hold.
Traders, however, are still hoping for a bull run in 2024, perhaps something to mirror last year’s Q4. Is it up to SOL and XRP, or will they have to bank on a new arrival for the surge?
Here’s what the market says!
Solana Slumps in September: Will the Altcoin Recover Anytime Soon?
The general market downtrends in September 2024 have had telling effects on the altcoin market, particularly the big players. While Solana was raring back to life in the last week of August, the token met with some newfound negative sentiment in the new month.
The negative sentiments are driven by concerns about the labor market in the US. The unemployment rate dropped to 4.2% from July’s 4.3%, but the number of jobs for August peaked at 142,000, which is lower than the 160,000 predicted by economists.
Throw in the extreme fear ravaging the crypto-verse at the moment, and you’ll see why Solana is facing an uphill climb to its resistance levels. The SOL token is 17.23% down on the monthly time frame, trading at $127.76.
Ripple Stays Case With the US SEC
The US SEC filed a case against Ripple Labs in 2020 for their sale of XRP tokens, which the commission labeled as ‘unregistered securities’ at the time. The lawsuit has been ongoing for almost four years, and despite claims of a resolution in sight all summer, neither party has resolved it yet.
In the latest Ripple vs. SEC update, an August 7, 2024, ruling required Ripple to pay a $125 million fine against the almost $2 billion fine that the SEC proposed. Now, the SEC plans to appeal the ruling, and they requested a delay in the payment on September 4 to be able to appeal.
The SEC has 60 days–after delaying the payment–to come up with an appeal; otherwise, Ripple can proceed with the payment. However, the delay is only going to leave the XRP price at a standstill, as traders are not looking encouraged by the general proceedings.
On the weekly charts, the altcoin is 4.07% down, with about 10% losses on the monthly timeframe. Can XRP trigger the bull run with a win over the SEC? Not very likely.
DeFi Dominance: DTX Emerges as the Best Altcoin to Buy!
The profit cycle is making a gradual shift now from meme coins to DeFi projects, and it’s a joy to see. Pepe, BONK, WIF, and NOT all dominated the altcoin scene for more than a year, and DeFi tokens have had enough.
DTX Exchange (DTX) is their response to the meme sector, as the project has immense potential, both in the short term and in the long run.
The platform is quite the hub for everything DeFi, from asset trading to Web3 wallet services. The top-notch features are further improved by more intrinsic developments that contribute to a seamless trading experience on DTX Exchange.
One such development is the lightning-fast execution, where each transaction takes only 0.04 seconds to complete. Unlike most of the trending DeFi projects, DTX Exchange prioritizes real-time experiences for its traders. With processing speed like that, you are sure to be constantly ahead of the market.
Your profits on DTX Exchange get even better with the 1000x leverage option. It’s limited to select assets on the platform, but the leverage allows users to manipulate large market positions with minimal capital on such assets.
It’s the crypto market at your fingertips, with DTX as the best altcoin in 2024 for the next bull run, but you don’t have to wait till the tokens launch to start stacking up the numbers.
DTX for Short and Long-Term Gains in the Next Bull Run
Not many crypto tokens have as much utility as DTX or as much potential as the DTX Exchange project. This is why experts believe the altcoin could take the spotlight in the next bull run ahead of more popular coins in the mold of Solana and XRP.
Further, with the coin currently priced at $0.06 in Stage 3 of its presale and set to hit $0.08 in Stage 4, analysts believe the presale gains could be a scratch of the surface. If expert predictions of a 1,000% post-launch pump are anything to go by, the project could flip $100 to $10,000!
Learn more:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
