Last week’s market correction has pushed coins like Injective (INJ) and Thorchain (RUNE) to a new 6-month low. In the last seven days, Injective (INJ) is down 41.4%, while Thorchain (RUNE) is down 44%. This downtrend has pushed investors and traders to new potentials, which can give substantial returns and cover the losses.
One emerging layer 1 chain, DTX Exchange, is seeing a huge inflow amid the market correction. DTX Exchange has already crossed the $1 million mark and is seeing continuous inflow increasing every week.
Third Lower Low In Injective (INJ), Will It Reverse From Here?
In the last 24 hours, Injective (INJ) has been down around 18%, and in one month, the price has been down over 20%. Despite the correction, Injective (INJ) has secured a spot among the top 44 cryptocurrencies by market cap. With a market cap of $1.44 billion, it has 97.1 million Injective (INJ) tokens in circulation out of a total supply of 100 million INJ tokens.
The current down leg is the third lower low from the start, and this could end the bear trend in Injective (INJ). It is currently trading above the major support level of $14, which will act as a strong support for the coin. The major resistance level for Injective (INJ) is around the $20 level.
Major Support Broken In Thorchain (RUNE)
Thorchain (RUNE) has broken its major support level of $3.30 in this correction and is currently trading at $2.77. Thorchain (RUNE) is trading below all short-term moving averages of 20 days and 50 days, and it is also trading below the long-term moving average of 200 days. This shows the bear’s strength in the Thorchain (RUNE).
If we look at Thorchain (RUNE) price action, a big head-and-shoulder pattern has broken down, which is a bearish pattern. Thorchain (RUNE) has 6 continuous red bars, which can continue further if the market stays bearish.
DTX Exchange Improving Quality In Trading And Investing
With Shiba Inu Injective (INJ) and Thorchain (RUNE) in a downtrend, investors are quickly turning their attention to DTX Exchange (DTX). DTX has already raised over $2 million in private seed funding and more than $1,000,000 in a public presale in less than a month.
DTX stands out by offering advanced trading features that provide unmatched opportunities. It will be the first major exchange to offer 1000X leverage without the need for KYC procedures, which often hassle traders and investors.
To enhance liquidity and reduce slippage, DTX Exchange uses distributed liquidity pools. This approach, along with non-custodial wallets, lowers the risk of losing funds in a security breach.
The platform focuses on its community by offering low trading fees and enabling traders to optimize their investments. Community members also get governance and voting rights and might benefit from potential airdrops. With the current price at just $0.04 in the second stage, now might be an excellent time for investors to join the DTX presale.
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