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The new PropFi platform, FXGuys ($FXG), has captured the attention of investors in Ethereum (ETH) and Cardano (ADA) as a multi-asset trading firm where financial market enthusiasts can trade any digital asset of their choice. Equipped with decentralized finance properties, questions are emerging about the possibility of $FXG being the next big DeFi coin.
This article will answer the big question bugging everyone’s mind: could $FXG be the next big DeFi coin?
FX Guys Gains Prominence as the Next Big DeFi Coin Among Enthusiasts
Ethereum and Cardano investors are recognising the prospect of $FXG becoming the most prominent DeFi coin in the decentralized finance sector. This project is a game-changer for investors because of its value proposition, which is reflected through the success of its private sale and its ongoing public presale.
The DeFi prop firm, FX Guys, is well-known as a remarkable TradFi product, standing out for its impressive reward system and distinguished traders’ experience. Its reach into different segments of the financial market, such as FX, crypto, stocks, and indices, helps to facilitate diversification, allowing traders to profit across the board.
FX Guys is the go-to platform for talented traders hindered by limited access to funds. Its Trader Funding Program was set up to cater to this need, giving investors and traders a chance to wade through the market with ease and up to $500,000 in funding. With this much money, investors can play in the same field as deep-pocket investors.
Another distinguishing characteristic of the FX Guys project is its Trade2Earn program, in which traders are rewarded with $FXG tokens for every trade they complete.
Regardless of the outcome of these trades, $FXG tokens will be deposited into traders’ wallets directly and can be used to participate in ecosystem activities or enjoy other special perks.
The platform does not charge buy and sell taxes, nor does it delay payments beyond a day for more than 100 local currencies. Its KYC-free feature, in addition to the features initially mentioned, presents it as a top choice for investors seeking the next big thing among top DeFi coins.
Ethereum Rebound Anticipated as On-chain Data Hints at a Possible Rally Upfront
Despite trading below $3,000 for weeks, a new report from 10X Research suggests that Ethereum could be on the verge of a notable uptrend. Analysts at 10X believe that ETH has bottomed out; hence, a trend reversal is imminent.
Naturally, the macro bottom is deduced using the 50-day and 200-day Exponential Moving Average (EMA) combined. Based on the research, ETH’s bottom was at $2,175 in August 2024.
Besides 10X analysts, X-based crypto experts have also commented on Ethereum’s recent price actions and how they could determine its direction in the near term.
One such analyst who weighed in on ETH’s price action was Income Sharks, who highlighted Ethereum’s higher highs and higher lows as a sign that a bullish reversal could be underway.
He criticized those who said it was over for Ethereum after it plunged to the October low of $2,100, drawing parallel to SOL, back when it was pronounced dead at $10.
The subsequent 24 hours of Income Shark’s comment was accompanied by a 1.01% leap in the value of the second-largest cryptocurrency by market capitalization.
Cardano’s TVL Approaches a New High: How Will ADA Respond?
The total value locked on Cardano is approaching a remarkable high primarily because of the growing use of DeFi protocols on the network and continuous improvements geared towards boosting throughputs and transaction costs. ADA rallied alongside several top DeFi coins during this period, registering a 1% price gain in the last 24 hours.
ADA’s exchange chart shows an interesting pattern, with Binance technical data revealing the Cardano coin recovering from a decline after falling into a channel and smashing through its top layer. In most cases, this type of price action is considered bullish.
Coincidentally, ADA’s trading volume has been on the rise, surpassing 61% in the last 24 hours. This volume spike suggests the market is showing interest in Cardano, particularly retail and institutional investors.
As the Cardano ecosystem witnesses more improvements, this will trigger a surge in ADA’s price and TVL in the near term. Presently, ADA trades at $0.34, with an intraday gain of 0.74%.
The Battle Among the Top DeFi Coins to Buy: $FXG, ETH, or ADA?
As these coins continue to perform impressively, investors have decided that $FXG could be the best DeFi token among the trio to invest in. This conclusion stems from its profit projection in comparison with ETH and ADA.
Amid its ongoing presale, $FXG is predicted to rally 233% from its current price of $0.03 to $0.10, its final presale price in a few weeks. Seeing as its adoption rate is spiking, this may happen sooner than anticipated, giving more room for the DeFi token to grow, particularly after its exchange debut.
Hence, Ethereum and Cardano’s investors are looking at the FX Guys token as it gears up for a massive explosion, thinking it could be the next big DeFi coin.
To find out more about FXGuys follow the links below:
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