According to a recent report, the stablecoin issuer, Tether, made more profit than Goldman Sachs in the fourth quarter of 2023. The question now is if the new DeFi project, Pullix, can mirror this huge profit. Let us find out.
Tether (USDT) Profit in Q4 2023 Surpasses That of Goldman Sachs
In a recent tweet, Bitwise chief investment officer Matt Hougan revealed that Tether (USDT) made over $2.85 billion in profits in the last quarter of 2023. This is larger than that of Goldman Sachs, which was just $2.01 billion.
According to Tether's Q4, the company's earnings included $1 billion from investments in U.S. Treasury bills and $1.85 billion from its Gold and Bitcoin holdings.
This financial outcome is mainly due to the crypto market's upswing, fueled by the excitement around the spot Bitcoin ETF from October to December 2023. During this period, Bitcoin's price soared to over $42,000 from approximately $27,000.
Also, Tether's USDT supply went to almost 92 billion from about 83 billion tokens. Meanwhile, market analysts noted that the rising demand for Tether's stablecoin was a sign that institutional investors have a high interest in the crypto space.
Despite this performance, Tether's total annual profit was less than Goldman Sachs's. While Goldman Sachs's annual profit was $8.52 billion, Tether's profit stood at $6.2 billion.
Pullix (PLX) To Make Huge Profit and Share With Its Community
Pullix (PLX), currently in its blockchain ICO phase, is developing a platform combining the features of centralized and decentralized exchanges. This project aims to redefine trading by enabling trading a wide range of assets, such as cryptocurrencies, commodities, and forex, all under one account.
With a daily trading volume of $6.6 trillion, the foreign currency (FX) market is the largest in the world. The Over-The-Counter (OTC) derivatives market sees a daily turnover of $40 trillion. The Pullix platform has enormous profit chances due to the massive daily volumes of these marketplaces.
Thankfully, Pullix uses a revenue-sharing model to divide these gains among PLX token holders, therefore allowing its community to share in the trading rewards. This strategy gives regular investors many opportunities to generate passive income by allowing them to partake in the platform's daily earnings.
One such avenue includes staking and yield farming, where participants can stake their LP Tokens to enhance the platform's liquidity. A nominal 0.25% trading fee on Pullix Swap is contributed to the Pullix pool as LP tokens.
These LP tokens are subsequently exchanged for PLX and allocated to the holders of Pullix LP tokens. This boosts their asset base and provides an opportunity for passive income through fixed capital gains.
Furthermore, Pullix offers wide spreads, high transparency, and enhanced liquidity. It also addresses the liquidity challenges DEXs face by encouraging active market engagement to fortify liquidity levels. Pullix has more competitive rates compared to major platforms and supports anonymous transactions without KYC verifications.
Recently, the price of Pullix increased, moving from an initial $0.04 to $0.10 in the seventh stage of its blockchain ICO. Excitement is building as investors await its launch in the next 70 days.
Final Thoughts
Pullix stands to gain significantly from its exposure to the high trading volume forex and over-the-counter derivatives markets. Because it allows holders of PLX tokens to receive a portion of this profit , the DeFi project stands as an excellent option for investors at this time.
For more information regarding Pullix’s presale see links below:
