Today, the value of LINK, like many other cryptocurrencies, has taken a hit. For many tokens, this is a result of the decreased value of BTC. However, Chainlink holders are feeling the impact of a substantial token release, prompting many to sell and seek profits from the next promising DeFi token.
Find out what caused the decline in LINK’s value and the potential of this new DeFi token.
LINK’s value dips after a $295 million token release
While many cryptocurrencies focus on addressing future problems, Chainlink is focused on the present. Not only do they provide decentralized price Oracles that facilitate secure crypto swapping, but with their CCIP Protocol, they are now set to enter the space of RWA (Tokenization of Real World Assets).
Chainlink will simplify the trading of RWA for big institutions in an interoperable manner. This will lead to increased liquidity, solving the problem that RWAs aim to address. Normally, selling assets such as a house or luxury car can be challenging. However, by fractionalizing and offering those fractions on the blockchain using Chainlink or another protocol, selling becomes easier.
While Chainlink is still viewed as a promising investment by many, there is an issue that needs to be addressed – Chainlink’s value and token releases. Cryptocurrencies are generally designed to be deflationary, counteracting the inflationary nature of fiat currency. However, teams need to retain tokens to pay themselves and should not sell them all at once. Chainlink has more locked away than usual, with only 56% of the total supply unlocked, according to TokenUnlocks.
According to AMBcrypto, 21 million Chainlink tokens have just been unlocked, causing concern that this will lead to a decline in the LINK value. Approximately 18.25 million of these (worth around $295 million) were sent to Binance, indicating that the project is preparing to sell. This triggered a lot of Fear, Uncertainty, and Doubt (FUD) in the market, causing LINK’s value to drop by 7% on the weekly chart. With many more tokens set to be unlocked, LINK’s value could continue to decrease.
As a result, many DeFi enthusiasts are selling some of their LINK to purchase a new DeFi coin – DTX.
A DeFi token with the functionality of LINK but the growth potential of a new project
What makes the new DTX coin so promising? Firstly, it is in presale. New tokens are appealing for two reasons:
They are offered at an extremely low price and have significant room for growth.
There are no other holders who purchased at a lower price waiting to sell at a profit, as observed with LINK’s value.
DTX Exchange, like Chainlink, plans to offer a wide range of functionality for current solutions. DTX Exchange is a trading platform that combines the best of TradFi with the best of CeFi and DeFi, allowing trading of stocks, bonds, forex, indexes, and more, as well as crypto and RWAs such as precious metals, on the blockchain.
DeFi (e.g., Uniswap and DTX) surpasses CeFi (centralized exchanges like Binance and Crypto.com) due to anonymity. While most CeFi exchanges require KYC, DTX does not, ensuring privacy and other benefits such as high leverage of 1000x, and the ability for people worldwide to participate, regardless of their country’s TradFi and CeFi trading regulations.
DTX is currently trading at $0.04, having recently experienced a 200% increase. It is expected to launch after another 200% gain, potentially marking the start of a significantly profitable journey. Binance started as a small business and their BNB coin has risen over half a million percent since its presale, while decentralized exchange Uniswap’s DEX has increased by an impressive 857% from its launch date.
Considering that DTX Exchange offers a wider range of functionality than both BNB and UNI, it will be interesting to see how high this coin can go.
Visit the presale
