Pullix pre-sale exceeds $6 million, Binance and KuCoin may flip. Solana whales doubled down
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
Will Pullix (PLX) replace Binance (BNB) or KuCoin (KCS) as the innovative model exchange introduced to the blockchain? Over the years, cryptocurrency traders have faced several challenges, including high trading fees and liquidity issues, and Pullix is offering a solution. Meanwhile, Solana (SOL) whale investors are buying the PLX presale, which raised over $6 million. How will Pullix replace already established cryptocurrency exchanges? Let’s take a look below.
Can Pullix replace Binance and KuCoin?
Pullix is creating a blueprint for other cryptocurrency exchanges to make money. For context, the Pullix platform is a hybrid exchange that combines the advantages of defi and cefi exchanges to create a unique decentralized exchange on the blockchain. Unlike KuCoin and Binance exchanges, Pullix uses a profit sharing model feature to reward PLX token holders with a portion of the net revenue generated on the exchange platform.
Additionally, Pullix does not ask traders for KYC verification before trading on the platform. Pullix is challenging the status quo in trading platforms and is focused on upending mainstream exchanges and bringing the best cryptocurrency trading experience to the blockchain. As a result, over 15,000 individuals participated on the exchange, with many more traders joining before the pre-sale ended within 20 days.
Likewise, PLX, an ERC20 token, is another asset showing increasing growth potential. So far in the pre-sale, investors have purchased over 80 million PLX tokens, resulting in the platform raising over $6 million. These statistics show that the PLX token is quickly becoming an investment alternative for investors ahead of Binance Coin and KuCoin tokens.
A percentage of PLX tokens perform a token burn function that burns unpurchased tokens to maintain their relative scarcity and value. With a live platform demonstration available to the public, acquisition of two trading licenses, and listings on Bitmart and Uniswap, Pullix has the potential for further growth in 2024.
KCS turns bullish
KCS was strong last week, adding 10%. Additionally, the long-term price indicators for the token look good, as the year-to-date price chart shows a 34% increase in value. Thanks to this strength, the price of KuCoin exceeded $10.50 for the first time since January 3.
Meanwhile, KCS trading volume is on a positive trajectory, putting the token in a good position for further rallies.
According to Digitalcoinprice KuCoin price prediction for 2024, the token will trade for an average of $22 before the end of the year.
BNB is likely to rise
BNB continued its strength in March of this year.
The coin’s market data shows it is up more than 9% over the past week. This caused the Binance Coin price to exceed $330.
Binance Coin price could reach $350 sooner than expected.
However, analysts believe that fluctuations in Binance Coin’s trading volume could hinder the token’s upward momentum.
Solana surpasses $100
Solana has been showing significant strength since early February.
As price statistics show, the token reached its yearly high price of $121 on December 26 before witnessing a retracement in January. This retracement kept the Solana price below the $100 threshold for most of January.
However, the token price rose again in February. Over the past 30 days, the price of Solana has risen more than 21%, pushing its value back above $100.
Analysts predict that, if current trends continue, Solana’s price will reach $130 before the end of the first quarter of 2024.
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users must conduct their own investigation before taking any action related to the Company.