Litecoin rising on Bitcoin ETF expectations, Pullix setting up as avenue for retail crypto traders
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Litecoin (LTC) is firm as the crypto community awaits the Securities and Exchange Commission (SEC) to approve the first Bitcoin ETF. While all eyes are on this development, Pullix (PLX), a crypto project, has sold over 2.2 million tokens in stage 2 of its presale.
Litecoin price analysis
Litecoin has been rallying since the start of December, rising from $69 on Dec.1 to $72 on Dec. 13.
At the same time, it processed – 3 million transactions in one week.
This growth can be attributed to the hype surrounding the potential approval of a Bitcoin ETF.
Based on historical prices, Litecoin and Bitcoin are directly correlated.
Based on technical analysis, the Litecoin price may continue soaring. LTC is now trading above its 21-day EMA.
Meanwhile, the Fear & Greed index sits at 65 (Greed), a bullish sign.
Exploring Pullix
Pullix is a hybrid trading platform that aims to incorporate centralized and decentralized exchange features. It will support up to 1000:1 leverage, deep liquidity, low trading fees, and more.
Retail traders will also trade all assets (including cryptos) on Pullix, unlike in Coinbase or Binance, through a single account. This decision aims to improve user experience and efficiency.
Other features include:
- Yield farming: for users to earn PLX while staking LP tokens – providing liquidity.
- VaultX: a decentralized multi-chain yield optimizer through which users can earn high APYs on their crypto holdings.
- Copy trading: for users to copy trades of successful traders in the Pullix community.
In stage 2 of the presale, PLX is available for only $0.042.
So far, over $94,400 have been raised.
The team is also conducting a 1,000 PLX giveaway.
ISDA said the OTC derivatives market was worth $618T in 2022. Pullix looks to tap into this growth. As such, this may support PLX prices.
Conclusion
Litecoin, like other crypto assets, is rising in anticipation of the SEC approving the first batch of Bitcoin ETFs. However, LTC’s growth might be capped by its high market cap of around $5.3 billion.
On the other hand, analysts expect Pullix to outperform Litecoin and even the crypto markets due to its relatively low market cap. Coupled with its features, experts remain bullish on PLX.
For more information about the Pullix presale, see the links below:
Visit Pullix
Join The Pullix Communities
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