The trading volume on Ethereum decentralized exchanges has dropped significantly from $3.34 billion to just $1.03 billion, indicating a downward trend. However, the Immutable X price has seen an 18% increase, signaling growing interest in its NFT offerings. In the midst of these market shifts, BlockDAG has stood out with a $48.8M presale and strong support from the WEB3 Revolution influencer. This endorsement highlights the potential of BlockDAG’s X1 mining app, suggesting a potential surge in cryptocurrency activity in 2024.
The decline in Ethereum DEX volume, from $3.34 billion to $1.03 billion, reflects reduced transactional activity on these platforms. The current MVRV Z-Score is at 1.63, significantly lower than previous bull market peaks, indicating cyclical behavior in Ethereum DEX volume that could impact Ethereum’s valuation.
Immutable X, known for its NFT scaling solutions on Ethereum, has seen an 18% price increase, aligning with positive market sentiments. This growth in price is supported by 25 out of 30 green days in the past month and a position above its 200-day SMA, indicating a bullish market trend.
BlockDAG’s presale success, fueled by the X1 miner beta app and endorsements from influencers like WEB3 Revolution, has reached $48.8 million, selling 11.4 billion BDAG coins. The X1 mining app, available on major app stores, aims to democratize mining technology and make it more accessible to users worldwide.
WEB3 Revolution’s endorsement of BlockDAG highlights the platform’s commitment to innovation and improving mining efficiency. The platform’s low-code, no-code features simplify the development process, making it easier for developers and users to engage in cryptocurrency mining.
In conclusion, while Ethereum DEX volume decreases and Immutable X sees gains, BlockDAG’s $48.8M presale and endorsements position it as a key player in the evolving cryptocurrency market. Influencers like WEB3 Revolution emphasize the innovative nature of BlockDAG’s offerings, suggesting a promising future for the platform in the anticipated cryptocurrency boom of 2024.