While the volume on Ethereum’s decentralized exchanges has drastically reduced from $3.34 billion to $1.03 billion, indicating a significant downturn, the price of Immutable X presents a different story, marking a growth of 18%, which underscores an expanding interest in its NFT offerings.
Read CRYPTONEWSLAND onAmid these market fluctuations, BlockDAG stands out prominently, boasting a vigorous presale that has accumulated $46.9M, bolstered by a strong endorsement from the influential WEB3 Revolution. This crypto influencer has showcased the potential of BlockDAG’s X1 mining app, suggesting a future where BlockDAG could spearhead a major surge in the crypto sector by 2024.
Recent data reveals a notable dip in activity across Ethereum’s decentralized exchanges. Initially, the Ethereum DEX volume peaked at $3.34 billion by the end of May. Recent statistics, however, paint a different picture with the volume plunging to a mere $1.03 billion—a drastic decline signaling a significant shift in Ethereum transactions.
Presently, the MVRV Z-Score stands at 1.63, a sharp contrast to the highs of 14.19 and 4.76 witnessed during the bullish phases of 2017 and 2021 respectively. This pattern underscores the volatile nature of the Ethereum DEX volume and its potential impact on Ethereum’s market value. The reduction in Ethereum DEX volume is in sync with broader market sentiments and could shape future Ethereum valuations.
Immutable X, recognized for its role as a top layer-two NFT scaling solution on Ethereum, continues to improve transaction scalability and user experience, addressing key limitations of Ethereum. This enhancement has notably increased market liquidity and facilitated development processes. Recently, the Immutable X price has surged by 18%, indicating a bullish trend in the marketplace.
This uptick in the Immutable X price is consistent with the general market outlook, evidenced by its performance with 25 positive days out of the last 30 and maintaining a strong position above its 200-day SMA. The prevailing Fear and Greed index reflects a market propelled by optimism.
BlockDAG’s presale is gaining impressive momentum, driven by the innovative X1 miner beta app and the well-received Keynote 2 video. These efforts have propelled the presale to a robust $46.9 million. The X1 mining beta app, now available on Google and Apple stores, is redefining the landscape of crypto mining by making it easily accessible to a broad audience.
WEB3 Revolution has played a crucial role in promoting BlockDAG’s latest advancements. He has not only highlighted the technological breakthroughs seen in the Keynote 2 video but also strongly supported the X1 mining app. His endorsement underscores BlockDAG’s dedication to improving mining efficiency and security through its advanced Directed Acyclic Graph technology. He commended the app for its user-friendly interface and its potential to transform mining into a widespread technological activity.
WEB3 Revolution’s endorsement extends beyond simple promotion; he has emphasized how BlockDAG’s low-code, no-code capabilities significantly simplify the development process, making it quicker and more accessible. This feature is particularly appealing to developers and users by lowering the entry barriers to the cryptocurrency mining industry.
As Ethereum DEX volume sees a sharp decrease and Immutable X exhibits slight gains, BlockDAG captures the limelight with a $46.9M presale, underscored by endorsements from leading crypto influencers like WEB3 Revolution. These influencers highlight the pioneering aspects of BlockDAG’s X1 mining app, positioning it as a key player in the anticipated ‘crypto to explode in 2024’ scenario. This positions BlockDAG as a pivotal player in the dynamic cryptocurrency market.
Invest in the BlockDAG Presale Now:
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetwork
Discord: https://discord.gg/Q7BxghMVyu
Hanoi, Vietnam, 2nd July 2024, Chainwire
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