ADA picks up as whales fill bags with TRX and DTX for major gains

Cardano (ADA) is seeing some relief on the charts after a sustained struggle, meanwhile whales are focusing on Tron (TRX) and DTX to extend gains.

Finally, Cardano (ADA) is showing some signs of relief with a sharp rise on the daily charts, after a largely subdued market performance. Cardano fell below new lows in 2024, but a recent recovery has been taking place, which is causing Cardano’s momentum to increase.

Institutional investors remain obsessed with cryptocurrencies that are expected to deliver massive returns. This is why whales are piling up Tron (TRX) and DTX exchange as both coins are expected to deliver 100x returns.

The high number of active Tron addresses and daily transactions has attracted whales, while the pre-sale performance of DTX Exchange has become a magnet for institutional investors.

Cardano rebounds from yearly low of $0.3

Cardano Cardano gained 6% on Tuesday, August 7 after struggling for some time. It is now up 4% on the 24-hour charts, with the cryptocurrency trading at $0.33. It can be said that Cardano is currently riding the broader bullish rally that began after the market crash.

There are two upside targets for Cardano at the moment. The first target would be the 78.6% Fibonacci level ($0.36), which could translate into gains of around 9% if reached. Second, a retest of the trendline resistance could lead to gains of 29% from the breakout barrier.

However, the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) are showing weak readings on the chart. This suggests that buying power and capital inflows are still insufficient. In short, Cardano’s conservative recovery target will be the 78.6% Fibonacci level, unless Bitcoin advances further above $60,000.

It can be said that the future of Cardano price action depends mostly on the broader market conditions. But considering everything, it has managed to rise above its yearly lows in this uptrend.

Tron expands its influence by increasing transactions

TRON saw significant growth in various aspects in Q2 2024. The number of daily transactions increased by 29%, and the number of daily active addresses increased by 31%. The market cap of stablecoins on TRON also grew by 9%, with USDT on the network reaching $57.1 billion, up 10% from the previous quarter.

The market cap of Tron in circulation also registered positive growth, marking six consecutive quarters of gains on a quarterly basis. At the end of Q2, Tron’s market cap was $10.9 billion, up slightly from $10.8 billion.

This growth has allowed Tron to rise from 14th to 10th place among all large-cap cryptocurrencies, excluding stablecoins. So far this year, TRX’s market cap has risen by 14%, aided by its deflationary nature, which has helped drive the price up alongside its circulating market cap.

TRON Q2 Revenue TRON’s revenue was $117.5 million, down 8% from Q1. However, this still ranks TRON as the third-highest revenue-generating smart contract platform, behind Ethereum and Solana. Its robust staking system has caught the attention of whales and made it a prime investment option in this bull run.

DTX Exchange Becomes the Best Choice for Gains

DTX Exchange is set to enrich the market with its advanced technology and performance. DTX’s hybrid model and powerful AI technology have emerged as a solution to the security and liquidity issues. Additionally, DTX Exchange’s record presale performance has propelled it to the top of the 2024 ICO rankings and made it a prime investment choice for Q3.

The DTX hybrid platform combines real-time market analytics with quantitative and algorithmic trading options through 1000x leverage and advanced automation technologies. The move has made waves in the decentralized finance industry. As the first platform to combine spot stock and crypto pairs, it has attracted investors from both markets by offering a comprehensive trading environment.

Following the global demand for gas-free trading, passive income model, and blockchain-backed layer 1 security schemes, the project closed its private presale round at $2 million and raised $1.2 million in the second round of the public presale.

DTX also provides traders with a smooth and contemporary user interface (UI) that allows them to arrange strategies to increase profitability and navigate between features.

To learn more about DTX, check out the pre-sale, visit the DTX website and Join the DTX Community.