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Bitcoin exchange-traded funds have driven the crypto market since their January 2024 approval. Bloomberg’s senior analyst Eric Balchunas recently revealed that the nine BTC ETFs saw the highest one-day trading volume of around $2 billion.
The Nine had biggest volume day since Day One with about $2b in combined trading thx to big contributions from $HODL, $BTCW and $BITB which all broke their personal records. For context $2b in trading would put them in Top 10ish among ETFs and Top 20ish among stocks. It's a lot. pic.twitter.com/547pIl5grI
— Eric Balchunas (@EricBalchunas) February 20, 2024
That amount remains crucial in strengthening the market, and with other developments, such as the Bitcoin halving, experts trust the increased ETF traction might push Bitcoin and revolutionary projects like Pullix (PLX) to all-time highs.
Rising spot Bitcoin ETF demand
Balchunas’ X post revealed that the nine spot Bitcoin ETFs had their trading volume jumping to around $2 billion. $HODL, $BITB, and $BTCW surpassed their previous records, massively contributing to the notable increase.
Further, the $2 billion in trading volume places the combined exchange-traded funds among the top twenty individual stocks and within the top ten ETFs.
Furthermore, MicroStrategy’s Michael Saylor commented on the firm’s dedication to holding Bitcoin, highlighting the substantial inflows from traditional players to digital networks through BTC ETFs.
Such developments open the path for massive price growth for Bitcoin and the altcoin market. Meanwhile, Pullix’s presale success presents PLX as among the alts that will explode in the expected bull rally.
Pullix is ready to transform the crypto exchange industry
Pullix is a hybrid exchange that wants to dominate the decentralized finance (DeFi) market by combining centralized and decentralized strengths.
Unlike competitors such as Binance, Pullix promises multiple benefits for its users. For instance, the platform’s profit-sharing scheme allows PLX holders to enjoy a share of Pullix’s net revenue. Also, liquidity contributors can earn fixed passive incomes.
Pullix will not have KYC requirements, challenging the existing status quo while defining what decentralization means.
Pullix wants to restore the confidence the crypto community lost after established entities faced legal woes. For instance, the FTX debacle and the latest Binance settlement saw many questioning the transparency of assets custody. PLX’s platform will be non-custodial.
Such perks have seen Pullix attracting players continuously since its launch. It has raised $7,065,539 at stage eight of its presale, suggesting investor confidence in the project’s future potential.
PLX price forecast
The native coin traded at $0.14 at press time. Analysts expect PLX price to maintain uptrends as its March launch approaches, predicting a surge towards $1 after developments such as listing on other platforms.
As the bull market begins, Pullix will likely attract many users as it addresses DeFi challenges such as liquidity, translating to robust exchange growth and impressive price actions for PLX.
You can find more information about Pullix’s hybrid trading platform on their official website.
The post Pullix (PLX) price forecast as demand for Bitcoin ETFs rise appeared first on Invezz
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