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With the tariff war settling down, the cryptocurrency market is preparing for another leg up. After a 42% rally in 2024, Litecoin (LTC) remains overshadowed by its parent, Bitcoin (BTC). While Bitcoin price touched a continuous new all-time high, Litecoin is still trading 72% below its highest peak. Moreover, analysts project that LTC could surge higher if it gets support from the broader market.
However, amid the correction, savvy investors are investing in high relative strength coins like DTX Exchange (DTX), which has risen 700% in its token presale and has finally reached the final stage. While BTC’s technical charts hint at a potential reversal, DTX’s hybrid platform attracts global traders with multi-asset trading and high leverage.
Bitcoin Price Prediction: Bulls Target $120,000
For over two months now, Bitcoin price has oscillated between $91,500 and $106,242, having a market cap of $1.9 trillion at the time of writing. In the recent market correction, BTC retested the lower range of this box pattern. However, bulls took charge, taking above the $96,000 support level. Currently, the Bitcoin price is trading at $97,482, with a decline of 6.40% in the previous seven days.
Source: CoinMarketCap
An hourly chart illustrates that the Bitcoin price is trading in a reducing wedge pattern, and the pivotal resistance area is at a place very close to $99,500. The Bitcoin price Relative Strength Index (RSI) is hanging around 44, which indicates a state of balance between bulls and bears. The price may rise again if the resistance of $99,500-$100,000 is broken and the Bitcoin price could establish a new target.
Grayscale Files Application to List Litecoin Investment Product
Grayscale Investments has submitted a petition to the SEC requesting the conversion of its Grayscale Litecoin Trust (LTCN) to an Exchange-Traded Product (ETP), which will thereafter be registered on NYSE Arca. The implementation of this action, if approved, would be a chance for the investors to have a more controlled and liquid way to invest in Litecoin (LTC).
Recently, the SEC also took an important step toward approving new crypto ETFs that track assets like Litecoin. On Thursday, the commission acknowledged several crypto ETF applications, including Grayscale’s filing for a Litecoin ETF and BlackRock’s proposal to allow in-kind creations and redemptions for its iShares Bitcoin ETF.
Litecoin has shown strong growth and has the potential for further gains, but the crypto market remains volatile. ETF approvals, miner activity, and broader market trends will continue to influence LTC's price.
DTX Exchange: Transforming Online Trading Landscape
DTX Exchange (DTX) is a unique hybrid platform that aims to create the best trading playground with efficient tools and high accuracy. DTX implements the most effective components of centralized (CEX) and decentralized (DEX) exchanges. While traditional exchanges control how traders can trade on their platforms, DTX Exchange provides governance rights so traders can decide the platform's future.
Unlike traditional exchanges, DTX Exchange offers traders a one-stop solution. Thus, users can access and trade over 120,000 financial instruments such as cryptocurrency, commodities, stocks, and forex. Moreover, the platform offers 1,000x leverage, with the help of which traders can enhance their profit potential.
At the center of this hybrid protocol is the layer-1 VulcanX blockchain, a proprietary tech designed to handle over 200,000 transactions per second (TPS). This infrastructure ensures lightning-fast transactions and significantly reduces trading fees, a common pain point for traders.
DTX’s unique platform infrastructure and innovative business model have already been appreciated by 450,000 investors who have helped it raise over $13.55 million in the token presale. Currently, in the 8th and final ICO stage, the DTX token is priced at just $0.16. This is the last chance for investors to participate in this revolutionary platform.
Find out more information about DTX Exchange (DTX) by visiting the links below:
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
