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After multiple attempts to stabilize above the $1 price mark, Cardano (ADA) has slipped below the crucial level following an 11% correction. Considering its inability to hold strong above this level, token holders are growing wary about the possibility of retesting its previous ATH at $3.10 during this bull cycle.
This has led many to seek other prospective altcoins like Tron (TRX) and fast-rising presale stars like Elluminex (ELX) with a better chance to hit the $1 price mark. Elluminex in particular has drawn enormous attention because of its aim to expand DeFi capabilities on the rapidly growing TON network. But that’s not all there is to Elluminex, let’s find out why it is largely considered a top DeFi pick.
Elluminex’s Cross-Chain Compatibility For TON Projects Attracts Growing Interest
In today’s crypto world, solving DeFi challenges is not enough to gain the attention of potential users and investors. For Elluminex (ELX), the main attraction lies in its proprietary features which include an AI-powered portfolio tracker and a custom premarket feature that streamlines the overall DeFi experience, ultimately making it accessible to both new and experienced users.
Besides the aforementioned, Elluminex offers other key solutions including a comprehensive DEX protocol, advanced staking and farming mechanism, and cross-chain liquidity solutions, that particularly cater to TON projects and their users. Another noteworthy feature is Elluminex Academy which is dedicated to eliminating DeFi illiteracy to the barest minimum.
In general, Elluminex strives to champion security, speed, and scalability in DeFi while
unlocking endless potential in the broader DeFi landscape. This core goal has drawn a lot of interest to its native token–$ELX which currently sells for $0.06. While Elluminex is projected to scale rapidly alongside the TON network, early backers stand a chance to make significant gains as soon as the token goes public on CEX and DEX platforms.
Cardano Token Exhibits Bullish Momentum Despite Struggle To Stabilize Above $1
Having dipped by over 10% in the past week, the Cardano (ADA) token has attracted mixed reactions from token holders and market forecasters alike. This came as a result of the top altcoin’s inability to stabilize above the $1 price mark due to severe fluctuation above the crucial level.
Currently trading within a week-to-date range of $1.12 and $1.00, ADA price reflects a noticeable fluctuation. Albeit, the ADA token has maintained a generally bullish trajectory as it still holds on to a nearly 9% price gain in the past month and over 110% in the past year. Despite this positive outlook, ADA's price is still about 67% down from its ATH of $3.10.
According to on-chain analysis, a break above the $2 price mark could propel ADA price, and potentially retest the zone above $3 since it last did in September 2021. Corroborating this bullish claim, crypto analyst Valeriya pointed out in a recent X post that the ADA token’s next support lies somewhere between $0.87–and $0.90; however, if it is able to hold above this region then a price rebound to $1.32 could suffice in the short term.
Tron Price Reclaims Bullish Momentum Above Resistance Level
Like Cardano, Tron (TRX) has been trading below resistance until recently when it regained bullish momentum. In the past week, TRON's price has surged from its lowest level around $0.22 to a current price of $0.25, which reflects a nearly 5% increase during the same period.
Meanwhile, the recent uptick in TRX price has also pushed the top altcoin back above the resistance level, creating more room for more growth over the next few days and possibly a week. Corroborating this claim, Tron's technical analysis including short and long-term EMAs and SMAs also points to a strong buy, suggesting that the current trend may persist.
Furthermore, popular crypto analyst Andrew Griffiths is also bullish on the Tron token, pointing out in a recent X post that the top altcoin is currently in a consolidation phase. He added in his analysis that the TRX token is neutral on its 1D technical outlook (RSI = 54.705, MACD = -0.006, ADX = 21.441), ranging between the 1D MA50 and the 1D MA100. According to Andrew, as long as the 1D MA100 holds, the next bull target for the TRX token could be at 0.45.
Tron vs Elluminex: Which Can Hit the $1 Price Mark Faster?
Unlike the Tron network which is a blockchain network, Elluminex operates as a cross-bridge solution at the fundamental level. Its ability to propagate DeFi expansion for its base network, TON, sets it up for massive adoption. This coupled with its presale status and other proprietary features can boost ELX's price to $1 faster than Tron.
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
Elluminex is a next-generation DeFi platform built on the TON Blockchain and Ethereum, offering a seamless decentralized finance experience with innovative features. Users can engage in staking, farming, and enjoy AI-powered portfolio tools, all while participating in a cross-chain ecosystem.
Elluminex is unique in that it is bringing DeFi to the TON Network/Blockchain which at the moment is very limited in this sense with very few options available to its users. Despite this the TON Network is still the fastest growing blockchain in the world and many view it as a future powerhouse to rival Bitcoin, Ethereum and Solana.
By bringing DeFi to the TON Network, Elluminex would immediately transform the chain and take its capabilities and vast reach to the next level. Much like Uniswap did with Ethereum, Pancakeswap did with Binance Chain and Jupiter did with Solana.
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Contact Details
Elluminex
Andy Green
Company Website
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