The recent introduction of meme coins like TRUMP and MELANIA has generated significant attention in the Solana community, leading to a sharp increase in the price of SOL. However, due to a general weakness in the market, the selling pressure from meme coins has caused the Total Value Locked (TVL) on the Solana network to drop to $9 billion.
Despite the bearish sentiment surrounding the SOL price, DTX Exchange, a new player in the decentralized finance (DeFi) space, has attracted considerable interest and momentum. Early investors have already seen profits of over 800% from the initial coin offering (ICO), which is now in its final stage. Global investors are flocking to DTX Exchange due to its innovative approach to asset trading and management.
Solana news reveals a significant shift in the ecosystem, as the launch of meme coins associated with U.S. President Donald Trump initially sparked interest and drove up the price of SOL, pushing the TVL on the network above $10 billion for the first time since the collapse of FTX. However, in the past two weeks, the Solana DeFi ecosystem has experienced a sharp decline of approximately $3 billion, bringing the TVL down to a critical level of $9 billion.
In addition to the drop in TVL, Solana news also highlights a 24% decline in network revenues since early December, indicating a decrease in network activity. This trend underscores the challenges that Solana faces in a rapidly evolving blockchain sector.
It remains to be seen if the SOL price can rebound to previous levels. While it has performed well this year, with a 55% increase year-to-date, it has recently pulled back to levels below $200. In the past seven days, the SOL price has dropped by 18.38%, with the market cap falling below $95 billion.
On the 4-hour chart, the SOL price is attempting a double bottom formation, rising after finding support at $190. If the momentum continues, the resistance level of $220 will be tested in the coming weeks. However, a drop below the base of the reversal pattern would confirm further downside, potentially pushing the SOL price to $160, representing an 18% decline from the current levels. The introduction of a SOL ETF could be a significant development that may help reverse the price direction of Solana.
DTX Exchange is reshaping the trading scene with its groundbreaking approach to asset trading. This hybrid platform combines the best elements of centralized and decentralized exchanges, positioning itself as a leader in the market. By integrating over 120,000 asset classes into a single platform, DTX Exchange aims to address challenges such as slow speed and increasing slippage in the online trading space. The user-friendly interface caters to both new and experienced traders.
Furthermore, DTX Exchange offers enhanced liquidity with 1,000x leverage, allowing investors to take larger positions with less capital. Over 854,000 users have already signed up during the pre-registration phase, making DTX Exchange the preferred platform for traders worldwide.
The project has undergone thorough inspection by SolidProof, which has increased its transparency and credibility among investors. As the final stage of the DTX token presale is selling out, savvy investors are rushing to secure their slots. The tokens are currently available at a discounted price of $0.16. Market analysts predict that this altcoin could experience a significant price jump in 2025, surpassing giants like Solana.
For more information about DTX Exchange (DTX), please visit the provided links:
– Buy Presale
– Visit DTX Website
– Join The DTX Community