Amid the ongoing market-wide correction, decentralized exchanges on Ethereum (ETH) have recorded substantial increments in transaction volume.
This update has led to speculations that Ethereum-based tokens may be gearing up for explosive price growth. Therefore, market participants are scanning the Ethereum ecosystem for high-potential digital assets to invest in ahead of the anticipated rally.
Let’s find out which Ethereum-based altcoin is most suitable for investment.
Ethereum DEXs Records Increase In Transaction Volume
On-chain information provider DeFi Llama has revealed that Ethereum-based decentralized exchanges are witnessing a surge in transaction volume despite the bearish outlook of the crypto market. According to the firm, Ethereum DEXs registered an 18% increase in transaction volume to $9.88 billion, while that of other chains plummeted. Some of the chains that recorded a decline in transaction volume include Solana, Base, Binance Smart Chain, Arbitrum, and Polygon.
Solana DEX volume fell 8%, followed by Base at 4%, followed by Binance Smart Chain at 14%, Arbitrum at 14%, and Polygon at 10%. Worst of all was Tron, which declined 52% to $642 million. Tron’s plunging DEX volume can be associated with the waning usage of the vogue meme coin-creating platform on the blockchain, SunPump.
Market data shows that most of the top meme coins created on SunPump have shed a significant portion of their market value amid the recent dip. For instance, Sundog, Tron Bull, and Muncat have all fallen extensively away from their all-time highs. Meanwhile, Ethereum DEXes like Uniswap, Curve Finance, and Balancer have entered into an uptrend.
Notably, Uniswap’s volume rallied 14.2% to $5.7 billion following the firm’s settlement with the Commodities Futures Trading Commission over its margin products in which it was asked to pay a fine of $175,000 and seize retailing these products in the United States. Curve Finance saw a 68% increase in its transaction volume to $1.48 billion. Balancer, Hashflow, and Pender’s DEX volumes also grew 68%, 196%, and 85% each.
IntelMarkets Registers Surge In Revenue Volume
IntelMarkets, an emerging project on Ethereum, has also registered an increase in revenue volume due to more investors onboarding the ongoing INTL presale. The presale provides a pathway to foraying into the IntelMarkets ecosystem and enjoying the services it aims to offer. IntelMarkets is redefining futures trading with an innovative approach that involves offering traders high trading leverage options.
Built on Ethereum and Solana, IntelMarkets uses its dual-chain extension to ensure users enjoy unprecedented flexibility and scalability while trading cryptocurrencies. Traders can select the blockchain they want and leverage its capabilities to enhance their trading strategies and results. While the Ethereum blockchain allows traders to harness DeFi applications, liquidity pools, and smart contract solutions, Solana provides speed, cost-effectiveness, and scalability for IntelMarkets users.
IntelMarkets aims to proffer innovative solutions that will elevate the trading experience of each futures trader to new heights. One of these ways it is doing so is through its leverage options, ranging as high as 1000X so that traders can maximize returns on even the slightest price movements in their favor. With several tradable assets on the platform, investors can trade any pair of their choice with their preferred leverage.
INTL, IntelMarkets’ ecosystem token, is in Stage 1 of its public presale, trading for $0.009 per token. Thus far, INTL has generated $240,117 in revenue, with over 30.2 million tokens sold. At the climax of the presale, early investors would have amassed a massive 1,100% ROI from INTL when the price hits $0.11, starting with a 102% gain in the next nine days.
Given that INTL still has a low market capitalization, the best time to buy the token is now, before it takes its place among the top 20 digital assets, capturing billions in market share.
Discover More About Intel Markets:
- Presale: https://intelmarketspresale.com/
- Telegram: https://t.me/IntelMarketsOfficial
- Twitter: https://x.com/intel_markets
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.
