With the introduction of more innovative projects, the altcoin space has become more competitive than ever. Avalanche (AVAX) and Mina Protocol (MIN) are two top altcoins being challenged by a newcomer, Pullix (PLX). Let's find out more about the altcoin clash.
Avalanche (AVAX) Turn To Meme Coins for Network Boost
Avalanche (AVAX) became popular for its scalability and interoperability. Capable of processing over 4,5000 transactions per second (TPS), Avalanche crypto has become a formidable player in the crypto space.
However, over the last few months, the project has been faced with stiff competition. The Avalanche crypto has outlined plans to delve into the meme coin space to counteract the declining utility. The team announced that it would also focus on gas tokens, NFTs, stablecoins, and real-world assets (RWAs).
In terms of price performance, Avalanche has dropped by 72% from its all-time high. However, CoinMarketCap shows that it has been on a recovery path. AVAX has increased by 80% in the last 30 days to reach $41.3 in January 2024. However, can it compete with Pullix, the new altcoin making waves?
Pullix (PLX), One of the Top Altcoins To Buy For Massive Gains
Pullix (PLX) is on a journey to transform the financial trading landscape in the DeFi market. What sets it apart is its inclusive approach to trading. Unlike other platforms that only focus on cryptocurrencies, Pullix makes its reach wider. It gives access to different markets such as forex, stocks, ETFs, and commodities.
These markets show a lot of transactions, which could make the Pullix DeFi coin price rise higher. How? For example, the Forex market has a huge daily trading volume of $7.6 trillion.
Then there is the Over-The-Counter (OTC) Derivatives market, worth $40 trillion, significantly more than has an average daily trading amount of about $44 billion the crypto market records.
Besides the many markets, Pullix also aims to improve user trading experience. The platform offers anonymous trading. Without Know Your Customer (KYC) rules, users can trade without sharing personal details.
This gives a feeling of safety and privacy, making it easier to trade from anywhere in the world. Thus, Pullix will make trading available for more people. The platform also has a utility token, PLX, which has been forecasted to lead the bull market in 2024.
Mina Protocol (MINA) Embraces ZK Tech
One of the DeFi projects looking to leave a mark on the crypto industry is the Mina Protocol (MINA). Created to run DApps more efficiently, Mina Protocols (MINA) has gained popularity in the DeFi space.
To further improve its potential, MINA has announced the implementation of zero-knowledge (ZK) technology. This new layer will support the deployment of EVM and non-EVM codebases. However, Mina protocol has decided to remain cheap, keeping development costs fairly constant.
According to CoinMarketCap, from October 11, when the price of MINA dropped to $0.35, it has increased to $1.54 in January 2024. However, Mina Protocol is still 85% down from its all-time high above $9, losing the altcoin challenge to PLX.
Final Thoughts
While the current market sentiment appears bullish, Pullix has the edge over Avalanche and Mina Protocol. The links to the collosal global financial market give PLX massive upside potential. While it is currently valued at $0.07 per token, analysts have forecasted that the DeFi coin price could hit a high of $1 in 2024.
For more information regarding Pullix’s presale see links below:
