Following a brief downturn in the broader crypto market, several cryptocurrencies including top altcoins like Ripple (XRP) and Binance (BNB) are now regaining their bullish momentum. Notably, Ripple has reclaimed the ground above $3 while Binance has also made quite a significant recovery towards the $700 crucial level after dipping to as low as $643.
Meanwhile, rallying alongside these duo is Elluminex (ELX), a fast-rising presale star that has caught the attention of many whale investors due to the disruptive role it intends to play on the TON blockchain. In particular, Elluminex is set to expand DeFi capabilities on the rapidly-growing blockchain network, thus putting it in a strong position for future expansion.
Elluminex’s Role On TON Blockchain Offers Inevitable Growth Potential
What Elluminex (ELX) is set to do on the TON blockchain is similar to what Uniswap did on Ethereum, PancakeSwap on BSC, and SpookySwap on Fantom (Now Sonic). However, adding a twist to the narrative, Elluminex operates as both a DeFi Hub and a cross-chain bridge solution. The platform combines the tokenomics of its native $ELX token, AI-driven insights, and proprietary premarket features to revolutionize asset management and trading as a whole.
Meanwhile, as a bridge solution on the TON blockchain, Elluminex will offer its users, as well as TON-based project access to various DeFi tools. These include an AI-powered portfolio tracker that streamlines the overall DeFi experience for all users, a comprehensive DEX protocol, advanced staking and farming mechanism and cross-chain liquidity solutions. Not only does these provide a level playing field for new and experienced users, but it also gives them equal shots at becoming profitable.
Also unique to Elluminex is the unfair advantages it gets from its exposure to TON Network’s rapidly-growing user base. Although TON network itself currently boasts over 10 million monthly active users, the network’s association with Telegram messaging app with well over 1 billion users further boosts its market reach and potential. While it is currently priced at $0.06, the native $ELX token holds a massive potential to debut as the next 100X token.
Ripple Price Trajectory Regains Bullish Momentum, Eyes New ATH
Following the recent market downturn, Ripple (XRP) was hit by a major decline which sent XRP price below the $3 mark to trade as low as $2.72. While the sudden price retracement sparked a lot of mixed reactions from several crypto forecasters, the top altcoin is now trading above the crucial level once again.
Currently trading around $3.11, XRP price reflects over 12% increase from the point of recovery, which highlights the altcoin’s strength amidst unfavorable market conditions. As such, XRP coin has attracted more bullish predictions with many insisting that a double digit price is still feasible during this bull cycle.
Notably, popular analyst XForceGlobal in a recent X post claimed that the Ripple coin is getting one step closer to finally breaking for much higher levels. Based on his analysis, there are two possible pathways for the XRP price trajectory, both leading to at least $4-10. While this claim may hold some truth, a closer look at Ripple’s technical analysis including short and long-term SMAs and EMAs also points at a very strong buy signal.
Binance Price Faces Strong Resistance Below Crucial Level
Similar to most altcoins, Binance (BNB) was not left out in the recent market downturn, as it also registered its deepest low of the month at around $645. However, after a significant recovery, the native BNB token is now trading above $680, with only a few more recoveries needed to reclaim levels above $700.
However, looking closely at its monthly chart, it appears that BNB token is facing quite some challenge in holding above the resistance level. Notably, BNB price has made at least three failed attempts to trade above the crucial, which have then led to further speculations if the next attempt will make any difference.
Meanwhile, BNB token’s technical analysis, including Relative Strength Index and Moving Averages points at a neutral sentiment, suggesting that the current trend may persist for a little longer before any significant price movement in either direction.
Can Elluminex Outperform Ripple And Binance In The DeFi Market?
Although it may be too early to predict how well Elluminex will perform against top altcoins like Binance and Ripple, one thing stands out– its inevitable impact on the TON blockchain. As a pioneering cross-bridge solution and DeFi Hub on a rapidly expanding chain network, Elluminex holds a very strong economic potential, one that could easily boost its tokenomic to the levels of top altcoins like Ripple and Binance.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
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