The ongoing market bounce is courtesy of a bullish macro event—an interest rate cut. For the first time in four years, the US Federal Reserve slashed interest rates by 50 bps (0.5%). With sentiment optimistic, Shiba Inu (SHIB) and NEAR Protocol (NEAR) gained significant traction.
Not to be left out of the fun, the DTX Exchange (DTX) presale sells out fast, quickly approaching its market debut. Over $2.7 million has been raised in the third round of the ICO, hinting at acceptance and massive growth post-launch. Moreover, by bridging the gap between DeFi and TradFi, DTX has been hailed by experts as the best new crypto to invest in.
DTX Exchange (DTX): Early Investors Prepare for 75x Growth
DTX Exchange (DTX) has become one of the most talked about ICOs in the investment town. Its appeal is simple yet innovative: transforming the $3.2 billion global trading market via a hybrid approach. Given the several challenges within the trading scene, notably the lack of diverse assets and financial exclusion, its blend of CEX and DEX has been hailed as a trailblazer.
By combining the best elements of centralized and decentralized exchanges, DTX promises accessibility, security, privacy and an intuitive user experience. This includes non-custodial storage for improved security, allowing users to retain full control of their private keys and assets. Further, its wallet-based trading guarantees financial inclusion.
The above contributes to the presale selling out fast. It hit the $2.7 million fundraising mark this week, quickly approaching its launch date. Meanwhile, a token is ridiculously undervalued at $0.06 in the third presale round and primed for a 75x rally post-launch. To position for more gains, DTX is a more compelling alternative than Shiba Inu (SHIB) and NEAR Protocol (NEAR).
Shiba Inu (SHIB): On the Upside
After weeks of underwhelming price actions, the dog-themed cryptocurrency Shiba Inu (SHIB) is finally back on the upside. It trades alongside the broader crypto market, which is currently experiencing a bounce. With memecoins also witnessing a resurgence, further upticks in the value of SHIB are anticipated.
With the past 24 hours bullish—a 4% jump—the Shiba Inu coin lead in gains. Analysts anticipate further upticks, especially when Bitcoin (BTC) crosses the $65,000 mark. A Shiba Inu price prediction hints at the trimming of 1 zero from the price in the coming weeks.
Meanwhile, at the current Shiba Inu price, it is among the best coins to invest in—a retail favorite. With the ride set to be exciting, we suggest holding on tight and most importantly, grabbing a bag.
NEAR Protocol (NEAR): Eyes a Rally Above $8
NEAR Protocol (NEAR) is a Layer-1 blockchain with cool features like human-readable account names, unlike those found in cryptographic wallets. Designed as a community-run cloud computing platform, it eliminates blockchain limitations, notably low throughput and poor interoperability.
Like most top altcoins, NEAR Protocol (NEAR) is on the upside. On the weekly charts, the NEAR Protocol price soared 3%, trading above the $4.3 support. Zooming out, it increased by 9% in the past 30 days—one of the month’s biggest highlights.
With more room for growth, analysts predict a retest of its annual peak. A trending NEAR Protocol price prediction suggests a rally past $8 in the coming weeks, positioning it among the altcoins to watch.
Conclusion
The Fed’s 0.5% interest rate cut coincides with a rally in Shiba Inu (SHIB) and NEAR Protocol (NEAR) prices. Meanwhile, DTX Exchange (DTX), one of the new DeFi projects to watch, is tipped for a 75x jump after its market debut. Its innovative solution—a blend of the best elements of CEX and DEX—sets it up for massive adoption.
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