Avalanche (AVAX) surges 10% to target $50 as investors grab Pullix (PLX)

Avalanche (AVAX) surges 10% to target $50 as investors grab Pullix (PLX)

By Benson Toti - min read
  • Avalanche (AVAX) has jumed 10% in the past 24 hours to break above $45. 
  • As cryptocurrencies bounce, AVAX bulls could eye a breakout above $50.
  • Meanwhile, the overalll bullish outlook has Pullix (PLX) attracting investors as its presale surpasses $1 million.

Avalanche (AVAX) is looking to bounce above a key price level following Wednesday’s broader market surge. Meanwhile, investors hunting for the next breakout projects are increasingly finding Pullix (PLX), a new crypto exchange and investment platform highly attractive.

Pullix (PLX): the new hybrid exchange for DeFi

Pullix ($PLX) is a new project that seeks to bring the benefits of a hybrid exchange to the online trading community. 

An innovative “Trade-to-Earn” ecosystem stands out and could revolutionise the trading experience across crypto, particularly the decentralised finance (DeFi) market. The trading platform will incentivise users to provide liquidity, offering a revenue sharing product that could drive interest and provide traction for the native $PLX token.

$PLX holders will earn more tokens when they contribute to liquidity through staking of liquidity pool tokens. There are also discounts on trades. 

Apart from that other notable earning opportunities will be via its lending protocol, staking rewards, and DeFi and NFT launchpad. 

Users will also note Pullix’s non-custodial exchange as a plus that sets it apart from most platforms currently in the market. What this means is that users remain in control of their holdings as they enjoy the benefits of a hybrid infrastructure model.

Avalanche: AVAX looks bullish as crypto bounces

Cryptocurrencies have added roughly 2% to the global market cap after Bitcoin’s surge to $44,000 on Wednesday. Data showed the total value of cryptocurrencies was about $1.7 trillion, with 24-hour trading volume around $89.5 billion. 

As BTC rose, Solana extended its recent gains to flip XRP, while Ethereum traded to above $2,200. All the top 10 cryptocurrencies, including Avalanche (AVAX) were in the green over the past 24 hours.

Before Avalanche’s 10% spike to highs of $46, the altcoin had hovered below $40. The upside now has analysts strengthening their  bullish outlook for the layer-1 blockchain platform’s native token. Open interest has risen to over $407 million, up 17% in the past 24 hours.

With millions of AVAX tokens burned, over 16 million just in the past week, and open interest in AVAX surging, there’s a high chance bulls could target $50 or higher as the next support base.

Pullix ($PLX): Presale and market outlook

While AVAX could rally higher after reclaiming the weekly peak of $44, investors eyeing a long term bet on a currently cheap token will find Pullix potentially more attractive. 

A trader who buys Pullix ($PLX) today as the token trades around $0.044 in stage 3 could hold a significant unrealized gain on their tokens by the time they land on exchanges. This is because $PLX is expected to rise 580% during the presale, ahead of its potential market debut in the first quarter of 2024.

This bullish outlook for Pullix has investors taking a good look at Pullix during the presale. As of writing, over 7 million $PLX tokens have been sold in stage 3, raising over $1 million. Details on the presale page show that this stage 3 will end in nine days, which would see the token’s presale price jump.

Among long term catalysts for the price of $PLX is the anticipated token burn. According to Pullix’ whitepaper, a percentage of the network revenue will go into a $PLX buy back and burn mechanism.

Notably, 10% of all forex revenue, 20% from crypto CFDs and 30% on daily Multiples will be used to buy $SPLX. Burning $SPLX will reduce the circulating supply and likely impact the token’s future price

To find more about Pullix and its presale, visit their official website.