Bitcoin (BTC) Records Biggest Outflows Exchanges in 12 Months, As $1.1 Billion Leave Exchanges, Investors Turn To Pullix (PLX)
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January 03, 2024 09:21 AM Eastern Standard Time
While the Bitcoin price has stalled in the last few weeks, there has been an improvement in sentiment. This positive sentiment can be seen in the massive outflow of BTC from centralized exchanges. In just a day, more than $1.19 billion left exchanges, the largest amount in over a year.
One of the top altcoins that have benefitted from this recent event is Pullix (PLX). This new DeFi project has recorded a surge in interest from investors. Let us dive deeper into the reason behind these events.
Bitcoin Outflows Top $1 Billion, Investors Are HODLing
Investors are feeling more positive about Bitcoin (BTC), despite two weeks of consolidation. Data From Glassnode shows that on December 27, over $1.19 billion worth of BTC were moved out of centralized exchanges. This is the biggest number seen since December 14, 2022.
CryptoQuant says that the amount of Bitcoin held by an exchange is also at a low of 2 million BTC. This has been seen as a good sign for Bitcoin's price. Analysts say that most of the coins were moved to cold storage.
The less BTC coins that are in circulation, the lower the demand for them. This helps with a possible rise in their price. It's important to know why people are storing most of their Bitcoin right now.
In the next few weeks, the crypto space hopes to get its first spot Bitcoin ETF in the U.S. This has been predicted to cause a big price rally. So, Bitcoin is one of the best coins to invest in before 2024. On the flip side, one of the top altcoins that seem to be going up in value is Pullix.
Pullix (PLX) Attracts Investors Amidst Surge in Outflows
Pullix (PLX) is a DeFi project that has benefited from the increasing money put into the crypto space. In the last few weeks, Pullix has had thousands of new investors join. They have raised over $2.5 million in the process. So, why have investors been really interested in this blockchain ICO project?
The main reason is that Pullix will launch a hybrid exchange platform that could change how crypto exchanges work. Pullix has easily combined the best parts of Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) into one platform.
For people using Pullix, this means they enjoy a smooth platform where they can easily buy and trade assets. It's cheaper, more secure, and offers anonymous trading, asset control, and tighter spread.
Pullix will also act as a link between crypto users and the wider finance market. People can trade stocks, forex, commodities, and ETFs without leaving the Pullix exchange.
The cherry on top, Pullix has built-in help for some of the best AI trading tools. Made by a top company, OpenAI, traders will use these advanced tools to study market patterns and find better chances of making profits.
This blockchain ICO has a native token called PLX for operating on its platform. The prediction for the future value of PLX is hinged on Pullix becoming the next-gen exchange. Right now, PLX costs $0.07 to buy, but experts think it could go up by 40x when Pullix launches in 2024.
Closing Thoughts
As Bitcoin experiences its largest outflow from exchanges in a year, the crypto market appears poised for one of the most significant price jumps. Pullix has emerged as one of the best coins to invest in ahead of the spike. This is why there has been an increase in investor interest in the project.
For more information on Pullix’s presale, see the links below:
Pullix is a new DeFi protocol that is launching a hybrid exchange that will seamlessly blend the strengths of centralized and decentralized exchanges into one unified platform. Serving as the pioneer of “Trade-to-Earn” our native token $PLX empowers the community to earn a portion of the daily revenues generated by the exchange.
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