Tron (TRX) And Ripple (XRP) are now at a critical turning point. Both cryptocurrencies have rallied in early November but are now experiencing a pullback. This has caused many investors to turn their attention to the emerging Pullix (PLX) project, especially as the presale event of discounted tokens has just gone live. Let’s look closer at this new player in the market and why investors are rushing to buy their tokens.
Pullix (PLX) Attracts Investors with Promising Presale Event
The Pullix team is reshaping the landscape of online trading by integrating traditional methods with blockchain technology and heightened anonymity. They aim to enable a smooth trading experience free from the sluggish performance, regulatory burden, and high fees that plague traders.
The platform’s blockchain security infrastructure ensures that all transactions are encrypted to protect traders’ data and funds. Additionally, Pullix actively fosters a community-driven environment through Telegram and Discord to keep all users updated and take user feedback seriously.
But what about the regulatory issues that Binance and Coinbase are facing? Pullix is set to become a fully licensed platform in all major regions. This will improve its reputation and credibility to provide traders with security when trading on the platform.
The PLX token is the backbone of the Pullix ecosystem, serving as a utility token that can be used to trade, pay fees, and access premium features on the platform. Those who stake PLX stand to benefit from high passive income rewards and other promotional offers.
Pullix’s presale event just went live, offering PLX tokens at just $0.08 during the first stage before the price rises in the second stage, third stage, and so on. The earliest investors stand to make the biggest gains, so it’s no surprise that investors are rushing to buy PLX tokens.
Investors Diversify Portfolios as Tron (TRX) Faces Resistance Level
Tron (TRX) has had a bullish end to the year, rising from $0.065 in June to a peak of $0.11 as the project gains greater adoption. Tron was initially rejected by much of the crypto community due to its founder Justin Sun’s outspoken marketing tactics, but Tron now has an impressive TVL of $8.32 billion.
However, the Tron price has been retracing in the past week as it battles to break above the $0.11 resistance level. Some Tron holders are taking profits and moving to other projects that offer more upside in the coming months, such as Pullix (PLX).
Analysts note that the $0.085 – $0.090 area should act as strong support should there be a deeper pullback. This is also where the 200-day simple moving average sits, and a bounce from this level could see Tron (TRX) make another attempt at breaking above $0.11.
Until then, the $9.60 billion market cap project could see further consolidation or a pullback. With Pullix offering the PLX token at the cheapest it will ever be, many Tron holders see this as an opportunity to diversify their portfolio and get in on the ground floor before a potential 100x.
Investors Weigh Options as Ripple Faces Uncertain Trajectory
The price of Ripple has been nothing short of a rollercoaster ride in the past few years, and it all stems from legal battles with the US Securities and Exchange Commission (SEC). The declaration that XRP was a security token plunged the price from $0.65 to $0.18 in just one week as investors scrambled to sell off their holdings.
However, Ripple would later defeat the SEC in court, leading to a surge in price back up to $0.90 as investors regained their confidence in XRP. This rally didn’t last long, as the market-wide pullback saw XRP drop to $0.42.
After another bounce to $0.75 in early November, Ripple is once again retracing and hovering around $0.62 at the time of writing. Such a volatile market has pushed investors to seek new opportunities, and Pullix (PLX) appears to be a promising contender.
Some Ripple holders wonder if the asset will ever reach the 2018 high of $3.82 again. Back then, Ripple was seen as a contender to rival Bitcoin due to its fast, cheap transactions. However, the SEC case made it difficult for Ripple to continue to innovate, and now other projects are rising to take its place.
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Source: null tx