The overall crypto market turned bullish after Donald Trump won the US presidential election, which caused many AI altcoins to gain significant demand and undergo a massive rally. The market will continue to thrive as the president vouches for cryptocurrencies and plans to reduce regulatory pressure.
DeFi projects have the best long-term growth potential out of the different types of crypto since they solve real-world problems and provide practical use cases. This is why Trump bets his money on emerging projects that will shape the DeFi future.
FET Shows Signs Of Trend Reversal
Artificial Superintelligence Alliance (FET) has been trading sideways for over seven months, facing rejection from the $1.84 price level. In the recent rally, FET broke past this resistance and almost doubled within two weeks to $2.24. However, due to reduced demand, the price reversed and dropped over 45% to $1.12.
Due to the lost momentum, FET traded range-bound between the $1.21 and $1.65 price levels for over a month. In the last 24 hours, FET has gone up a bit and trades at $1.30 with a 16% increase in trading volume.
Last Sunday, the FET price dropped to the $1.12 support level but bounced from it yesterday. The RSI divergence indicator for FET recently showed a bullish divergence, suggesting a potential reversal to resume the previous uptrend.
TRON: World Liberty Financial Increases TRX Holdings
On 3 December 2024, Tron doubled in a single day after it broke out from the $0.218 resistance level and reached a new ATH at $0.4407. Due to mass profit booking, the TRX price dropped a bit the next day and continued to fall till it corrected to the 100-day SMA, and Tron reached back at the $0.218 level.
Tron took support at this level last week and currently trades at $0.2486 after a 0.7% intraday decline. Tron has significant resistance levels at $0.275 and $0.306. If Tron drops further, bulls can enter at the $0.24 and $0.223 support levels to stop the decline and take the TRX price higher.
Moreover, on-chain data shows that the Trump-backed World Liberty Financial (WLFI) has recently increased its Tron holdings, buying an additional $2.6 million worth of TRX tokens, totaling $7.46 million. The treasury now has 2.37% holdings as TRX, and WLFI plans to increase it further. Trump’s support of Tron could significantly boost the DeFi project’s performance.
Elluminex (ELX): Next DeFi Leader In The Making
Elluminex is an emerging project that aims to revolutionize the DeFi sector by solving persistent issues such as low liquidity, high gas fees, complex platform interfaces, and limited access to early-stage investment opportunities.
Elluminex plans to achieve this using the TON Blockchain’s unmatched scalability and efficient architecture. It is creating the first DeFi Hub on TON, the fastest-growing blockchain with over 950 million active users. The network has untapped potential since DeFi is still in its infancy, and Elluminex wants to unleash its full potential.
Another significant issue traders face is navigating multiple platforms to access various features required to manage all their assets because the existing DeFi platforms all lack certain functionalities. This reduces traders’ trading efficiency and increases their exposure to security vulnerabilities, leading to safety risks.
Thus, Elluminex is designing the platform as an all-in-one DeFi hub where users can trade, stake, bridge, farm, and manage their portfolios under a single roof. It will host an advanced DEX, leveraging TON’s capabilities to provide users with low slippage and lightning-fast asset swaps directly from their TON wallets.
The cross-chain bridge will facilitate p2p transfers across multiple blockchains, allowing users to manage all their assets from a single source. Elluminex ensures the platform will be intuitive so newcomers can adapt and learn quickly.
The platform’s native token, ELX, provides utility in the ecosystem and is used for transaction fees. The token is available at $0.06 in the first stage of the recently started presale, which will go up to $0.08 in the next stage. The Elluminex presale offers quick returns to early traders with compounding profits in each round.
For more information about Elluminex (ELX) visit the links below:
Website:? https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex