A major crypto analyst recently shared optimism surrounding the future of Cardano (ADA), especially after its bullish performance throughout the year so far.
In a new report, CryptoQuant pseudonymous analyst Joao Wedson found that Polygon (MATIC) saw a rise in supply on cryptocurrency exchanges, which could result in a price upswing soon. Pullix (PLX) is also picking up a lot of attention, as it will be an exchange where holders can get revenue from the platform’s daily profits.
Cardano (ADA) to Break Past $0.40 – How Far Can It Go?
Cardano (ADA) could soon rally based on positive network adoption signals and rising overall momentum. Crypto analyst Ali Martinez, known as @ali_charts on X (Twitter), showcased a chart by IntoTheBlock, indicating how 166,470 new Cardano wallets got almost 5 billion ADA when prices ranged between $0.37 and $0.38.
Throughout November, the Cardano cryptocurrency experienced a price upswing of 27%, leading analysts to forecast a potential continuation to the $0.4413 zone before the year ends. The Cardano analysis suggests that ADA might break above the $0.40 resistance line if the buying pressure continues. But while Cardano is bullish, it’s not the only crypto to gain attention.
Polygon (MATIC) Can Reach $0.8831 by the End of 2023
The recent rise in the value of Polygon (MATIC) in the supply on cryptocurrency exchanges might not be due to genuine demand from the general market. This is evidenced by a report by CryptoQuant pseudonymous analyst Joao Wedson.
The analyst found that upon closer analysis, it becomes clear that the price fluctuations might not be aligned directly with the interest of the public.
The value of the Polygon crypto experienced an increase of 18% in the past month amid the rebound in its supply on stock exchanges. An evaluation of Polygon’s performance on the chart reveals a steady decline in accumulation since November 20. Its RSI is still at 50.05, however, and in the neutral zone. Based on the Polygon price prediction, it can climb to $0.8531 by the end of 2023.
Pullix (PLX) to Feature OTC Derivatives Trading Without KYC
Aside from Cardano and Polygon, another crypto that can experience an upswing in value is Pullix (PLX).
This is an upcoming platform that’s community-backed and that will enable a plethora of different benefits for holders of the native cryptocurrency. It will differentiate itself from most competitors by offering anyone access to any market, including cryptocurrencies, 24/7.
PLX is the native crypto. Investors can use it to generate passive income by engaging in the staking process but they are not just limited to a single token, as the platform will also support multi-currency staking, where it will support BTC, ETH, DOGE, and more. This is achievable through the market-making liquidity pool, with an 18% APR.
Holders get a share of the daily profits that the platform generates as well. Anyone can also use crypto as collateral and even trade OTC derivatives without undergoing the KYC procedure. During the initial presale period, the crypto is offered at a value of just $0.04. Analysts are projecting a 70x price increase for the crypto at its launch.
For more information regarding Pullix’s presale see the links below: