Investors in Polygon and Chainlink find themselves nursing significant losses as a result of the recent chop in the altcoin market. At the same time, a new hybrid exchange is just launching and set to revolutionize the trade-to-earn crypto niche. Here’s why experts believe that Pullix is set to explode in 2024!
Polygon Sees Surge in Users Despite Disappointing Price Action
Polygon (MATIC) was a star performer of the last crypto cycle, yet so far, this cycle it has failed to impress. Down over 30% in 3 months, Polygon has dipped below the key $0.50 level. Polygon bulls will be watching the $0.40 to see if recent support can hold and inspire buyers to step in. If they don’t, Polygon’s market cap could drop below $5 billion from its current $4 billion cap.
Over 1.8 million new Polygon addresses were added on-chain over the last few weeks. Such adoption is bullish for Polygon but until price action can reflect this, the bears are in control. $0.66 remains a key level that will see a lot of selling in the weeks ahead. That said, investors looking to buy the Polygon dip will be able to do so via the Pullix exchange.
Chainlink Declines 6% And Struggles To Regain Momentum
Chainlink is down 22% in a week to $10 at the time of writing, causing Chainlink to lose the support of the 50-day MA at $14.08. This has also caused Chainlink’s market cap to fall to $6.2 billion.
Major moving averages are now hovering threateningly overhead and will create considerable resistance on the way back up. Chainlink bulls will need to step in here and stage a turnaround if any bullish momentum for Chainlink is to return.
Investors looking to long or short Chainlink can do so with low fees on the newly launching Pullix exchange.
Pullix Brings Hybrid Exchange Model to DeFi
Pullix is set to launch its trading exchange that will bridge the worlds of decentralized and centralized finance. Pullix offers users a comprehensive trading experience by providing deep liquidity across a range of assets. Crypto investors retain ownership of their coins by connecting a self-custody wallet and sign in without the need for any KYC checks.
Futures and spot trading is available depending on users risk profiles and the site offers zero commissions with tight spreads to ensure transparency on the platform. Thousands of different assets are available for trading, including commodities, ETFs and forex.
The PLX token is a game changer for the crypto space as it offers a fixed passive income thanks to its unique revenue sharing mechanism. Pullix will use a portion of its fees each week to buy PLX on the open market, supporting price and reducing supply as demand grows.
PLX has seen a strong performance throughout the recent turbulent market conditions and has seen a significant rally at $0.09. Investors are urged to make an allocation before the price explodes to the upside!
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