The cryptocurrency market is under strict regulatory scrutiny. The Binance fiasco has further solidified regulators’ perspective. Therefore, investors are cautious about privacy tokens like Monero (XMR) and Zcash (ZEC).
On the other hand, a new project, Pullix, has won the confidence of whales with its high-value proposition. This project is in its presale round, and demand for its PLX tokens is soaring high because analysts expect it to grow by 100x.
Monero (XMR) Loses Investors’ Confidence
Monero (XMR) investors are gradually losing their confidence in the network following the latest data breach. As per the official announcement, Monero had lost over 2.6k XMR tokens. The event has dented the image of Monero (XMR), which boasts of stringent security and privacy measures.
Some users are getting worried about their privacy with the Monero (XMR) network. However, Monero (XMR) has clarified that users’ privacy has not been compromised. But, it has derailed Monero (XMR) from the price trajectory. Monero (XMR) is down by 4% on the weekly chart, and is currently trading at $167.66.
Zcash (ZEC) Plans To Migrate From PoW to PoS Consensus Mechanism
To meet the ever-evolving requirements of the market, Zcash (ZEC) has planned to overhaul its network. Meanwhile, the trading price of Zcash (ZEC) has fallen by 6% in the last week. Currently, Zcash (ZEC) is changing hands at $30.09.
Reportedly, Zcash (ZEC) has decided to migrate from the proof-of-work to the proof-of-stake consensus mechanism. Although the official date for Zcash (ZEC) migration has not been revealed yet, it is expected to occur in Q1 in 2024.
Market experts believe that this development can increase the operational efficiency of Zcash (ZEC). Besides, it can also help Zcash (ZEC) attract new users and investors.
Pullix Presale Records Jaw-dropping Growth
As per the latest data from CoinMarketCap, there are more than 680 cryptocurrency exchanges across the globe. Moreover, almost two million cryptocurrencies are in circulation. This suggests that the crypto trading industry will boom in the years to come.
Capitalizing on this growth opportunity, a state-of-the-art blockchain exchange has entered the arena. It is the world’s first community-backed trading platform that blends the top features of both centralized and decentralized exchanges.
This has disrupted the conventional trading industry by tackling issues of slow speed, high transaction fees, and limited transparency. Pullix has planned to become a fully licensed, and lawful platform. This is of great significance considering the latest fiascos surrounding exchanges like Binance and FTX.
The ecosystem of this decentralized platform consists of several elements. They are Exchange, Lending Protocol, VaultX, and DeFi swap. Copy Trading is an interesting feature of the platform. It allows people to copy successful traders and their strategies.
PLX is the native cryptocurrency of the platform. The token owners will receive several benefits such as cashbacks and promotional offers. They can also stake their tokens to earn a passive income. The platform has promised to distribute a portion of the daily revenue among the token holders. Pullix has also redefined the concept of rebates. Unlike other platforms that offer periodic rewards, Pullix offers instantaneously credited tokens.
The presale phase of PLX tokens is currently undergoing its first stage. At present, a token is available to purchase at $0.042. But, it is projected to surge by 580% in the coming phases.
For more information regarding Pullix’s presale see links below:
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.
