Injective (INJ) recently saw a major spike in its value as it burned tokens worth over $65,000 in the weekly token burn auction. This decentralized derivatives exchange brought the total amount of INJ burned since its launch in 2021 to $15 million. Chiliz (CHZ), on the other hand, performed well in November, and it showcases the initial signs of a bullish trend, creating hope for long-term investors.
Pullix (PLX) also gained a significant level of interest from whales, as it introduces a unique approach to decentralized finance (DeFi) and can spike as high as 100x following its launch. Today, we will uncover the recent price movements for each crypto to see just how far they can increase and which is the best crypto to invest in.
Pullix (PLX) – An Emerging DeFi Powerhouse With Vast Utility
Pullix (PLX) saw an increase in whale activity and this is due to its unique feature set and rich ecosystem that offers a variety of ways for users to get the most out of their trades. It will bridge the gap between CEXs and DEXs and combine the best of both worlds.
Most exchanges today have liquidity issues, and Pullix will resolve this by enabling all users to deposit PLX tokens to build a pool. While this can be difficult on most DEXs, Pullix makes it as simple and as convenient as possible. It has used institutional liquidity as well, making the exchange far more liquid.
PLX is the native token, and holding it provides various benefits. Users can get a guaranteed fixed monthly income. They can also engage in multi-asset staking, and as a result, instead of being limited to just PLX, they can also use Bitcoin or other supported cryptocurrencies. Some of the proceeds that are generated on top of the platform are used to buy PLX tokens.
This is split, as 50% of these are burned, while the rest are used as rewards distributed among the PLX stakers. The Pullix team is currently offering the crypto for only $0.04, but this is just the initial crypto ICO price, and it can surge significantly at launch.
Injective (INJ) Rises 967.8% – Can It Breach the $20 Price Barrier?
Injective (INJ) has been trading in a bull trend for the past few months. After a breakout in the INJ crypto price, it has been finding consistent bull support and has remained at an upward momentum. When observing its historical price action, it's clear that the 200 EMA level is in a crucial demand zone.
In the past year, the total price upswing for Injective was by 967.8%. A key contributor to this significant upswing is the token burn, where the network burned tokens worth over $65,000 in the weekly token burn auction. Other catalysts for this growth included the tease of the largest mainnet upgrade in its history, the Volan Upgrade.
During the past week, the Injective price increased from $16.98 to $18.76. Now, the crypto needs to pass the $20 price barrier to reach new heights, and according to analysts, the Injective price prediction places its value at $29.39 by the end of 2024
Chiliz (CHZ) Sees Bullish Momentum – Can It Go Above $0.1?
Chiliz (CHZ) also witnessed solid performance, as its price rally looks powerful and supported by buyers. Big players in the market are currently building long positions on the Chiliz crypto, and its price could hold at higher levels while bulls can challenge the sellers in the supply zone.
The Chiliz price is struggling to break above the 200-day EMA, acting as an immediate barrier. As more whales accumulate CHZ, however, the positional trend will reverse upwards and can increase the possibility of hitting a new upward swing. In the past week, CHZ had its lowest point at $0.072609 while its highest point was at $0.083617. According to the Chiliz price prediction, it can reach $0.1349 by the end of 2024.
While Injective and Chiliz are both bullish on the chart, Pullix gained the most attention from whales. Experts forecast a 100x climb for the PLX crypto, fueled by interest from whales in this community-backed exchange and the token's utility, making it the best crypto to invest in.
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