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The post Cardano (ADA) Smart Contracts Rise As Crypto Exchange Tokens Pullix (PLX) and KuCoin (KCS) Battle It Out appeared first on Coinpedia Fintech News
Activity on the Cardano network has been increasing in the past month. According to recent data, the number of smart contracts on the network has increased. Meanwhile, let’s see the best DeFi project between KuCoin and Pullix.
Cardano (ADA) Smart Contract Skyrockets 67%
The Cardano (ADA) network continues to see an increase in the deployment of smart contracts on its blockchain, which is a crucial component moving the platform towards its aim of competing with Ethereum.
There are now 24,050 V1 and V2 Plutus smart contracts running on Cardano as of January 24th. According to data obtained from Cardano Blockchain Insights, this amount represents a 67% increase from January 1st.
Sadly, the increase in smart contracts has not translated to a rise in the price of Cardano coin. The altcoin is traded at the $0.4509 – $0.5196 price range. The Cardano coin price is down 8.1% and 22.4% on the weekly and monthly charts but up 33.0% on the year-to-date price chart.
KuCoin (KCS) Price Down Despite Integration With Apple Pay
One of the top cryptocurrency exchanges, KuCoin (KCS), has integrated Apple Pay with KuCard, a cryptocurrency debit card. The intention is to enhance the transaction privacy and security on the exchange.
It also enables customers with Apple Pay to make contactless payments. This reduces the chances of cryptocurrency fraud and also credit card hijacks.
In addition, the transactions with Apple Pay require biometric authentication on KuCard, such as Touch ID or Face ID. Despite the latest update, KuCoin’s price has witnessed only a minor increase on the weekly chart. According to CoinMarketCap, the altcoin has been stuck in a narrow trading range between $9.58 and $10.04.
Pullix (PLX) Exchange Tokens Surges
Unlike KuCoin, Pullix’s PLX has seen a 100% gain in the past month, currently trading at $0.10. Also, Pullix is still in the presale period and might see a large price surge after its listing on CEXs. Analysts expect the coin to see a 100x gain. As a result, Pullix’s potential price trend in 2024 positions it as the best cryptocurrency to invest in over KuCoin.
Pullix’s new hybrid exchange will have more features than KuCoin’s centralized exchange. The goal of this new DeFi project is to make trading faster and easier by streamlining the process and lowering trading expenses. It intends to enable trading in gold, silver, equities, metals, foreign exchange, and other items.
Instead of concentrating only on cryptocurrencies, Pullix also looks at the FX market, which sees $6.6 trillion worth of trades every day. As a result, the DeFi project may draw in additional institutional investors, increasing the value of the PLX token. Because of this, it stands a strong chance of being the best cryptocurrency to invest in 2024. Owners of PLX tokens have benefits beyond merely making a wise investment.
They also gain access to resources and exclusive trading privileges. It’s worth mentioning that Pullix’s contribution to liquidity is important. Users who add liquidity to the exchange can earn between 8% and 18% in interest. The good news is that the rates are set by an algorithm, promoting equal treatment in the community.
Conclusion
Hybrid exchanges are leading the way right now due to the large interest of institutional investors in cryptocurrencies. This makes Pullix the best DeFi project ahead of KuCoin. Besides, the large influx of investors will help Pullix to compete with KuCoin for trading volume.
For more information regarding Pullix’s presale see links below:
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