According to a recent survey of academic economists, the Federal Reserve is expected to reduce interest rates only once this year. This decision is influenced by persistent inflation, which is prompting the US central bank to modify its plans for lowering borrowing costs. If the rate cuts, this could trigger money inflow in the crypto market and trigger the bullish rally for Ethereum (ETH), Solana (SOL), and DTX Exchange.
In this article, we will talk about recent developments around Ethereum (ETH), Solana (SOL) and DTX Exchange.
World’s Largest Bank Calls Ethereum (ETH) Digital Oil
It’s great news for Ethereum (ETH) as well as the overall digital financial sector that the Industrial and Commercial Bank of China (ICBC), the largest bank in the world, has recently recognized the significance of Bitcoin and Ethereum. In their latest report, ICBC highlighted the crucial role these cryptocurrencies play in the evolving financial landscape.
The report specifically commends Ethereum for its ongoing improvements in security, scalability, and sustainability, which are powering the digital future. Bitcoin, on the other hand, was likened to gold due to its rapid expansion in our increasingly digital economy. Furthermore, Ethereum was described as “digital oil,” essential for driving various Web3 applications and programs across the expanding market.
Solana (SOL) Foundation Announces Removal Of Validators
The Solana (SOL) Foundation has taken action against validators involved in “sandwich attacks” by removing them from its network. This decision comes amid ongoing concerns and debates among developers and users, especially in light of recent charges by the Department of Justice against two individuals for similar misconduct on the Ethereum network. Although Solana’s market value dipped following the announcement, it swiftly bounced back.
For some time now, sandwich bots have been causing significant disruptions on the Solana (SOL) network. In response, the Solana (SOL) Foundation has expelled a number of validator operators from its delegation program for their role in these attacks, aiming to protect users and restore integrity to the network.
Potential Investment Opportunity With DTX Exchange
With the expected cut in rate, there is a higher possibility of an upmove in both Ethereum (ETH) and Solana (SOL). Still, these are already blue chip crypto, and the upside potential in these coins is less as compared to DTX Exchange.
DTX Exchange is a comprehensive trading platform that offers access to over 120,000 assets with up to 1,000 times leverage. It also guarantees complete anonymity since KYC checks are not required during registration.
The platform is powered by the DTX token, which brings several advantages to its holders. These benefits include priority customer support, the ability to vote on governance issues by staking tokens, and lower trading fees. These incentives have proven attractive, as millions of DTX tokens have already been sold.
DTX Exchange’s ongoing presale has successfully raised over $693,000 and is expected to hit $1 million by the end of June 2024. Additionally, early investors have already seen a 100% return on investment, a figure that is likely to rise as the presale continues.
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