Recently, the crypto community’s focus has turned towards Pullix (PLX), a newcomer with significant potential, leaving veterans like Bitcoin Cash (BCH), Ethereum Classic (ETC), and VeChain (VET) in its shadow.
The Diminishing Spotlight on Bitcoin Cash (BCH): Challenges and Community Resilience
Bitcoin Cash (BCH) has been struggling and lost 2.42% in the last 7 days. On a broader scale, the Bitcoin Cash network has seen a decline in transactions compared to Bitcoin, indicating potential challenges. The Bitcoin Cash network processed 81% fewer transactions in a recent nine-day period, highlighting a significant decrease in activity.
Additionally, the Bitcoin Cash mining profitability has plummeted by more than 80%, suggesting diminished incentives for miners. Despite these challenges, one positive thing about Bitcoin Cash is the Bitcoin Cash community which remained active, with over 100,000 subscribers on Reddit. Still, the 1-day chart shows -sell on both moving averages and oscillators and Bitcoin Cash doesn’t seem to be recovering.
Ethereum Classic (ETC): Upholding Original Principles Amidst an Evolving Market
Ethereum Classic (ETC) remains the original Ethereum blockchain, hence the name Ethereum Classic. It’s adhering to the principle of “code is law” following the DAO attack hard fork that created Ethereum (ETH). Ethereum Classic’s commitment to the original Ethereum vision is commendable, but it faces challenges in attracting new development and investment compared to Ethereum and newer blockchain projects.
The evolving market, with a strong focus on scalability, DeFi, and NFTs, places projects like Ethereum Classic in a position where they must innovate or risk falling further behind newer technologies. Although up 1.52% today Ethereum Classic is still down from $29 to $25 in the last 2 weeks. Ethereum Classic’s oscillators are neutral, while the RSI stands at 56. With Ethereum expecting a new Ethereum ETF, crossing over to PoS enabling faster and cheaper transactions the future isn’t looking bright for Ethereum Classic.
VeChain (VET): Navigating the Waters of Niche Innovation in a Broadening DeFi Sea
VeChain (VET) has made significant strides in supply chain management and enterprise IoT solutions through blockchain technology. The partnerships VeChain made across various industries underscore its practical applications and potential for real-world impact. However, the attention of the cryptocurrency community has been drawn away from VeChain and towards projects that offer broader DeFi functionalities.
While VeChain continues to develop its niche, the rapid pace of innovation in the blockchain space means VeChain competes for attention with projects that have novel technological advancements. VeChain has lost 10.32% in the last 30 days and its hype has also diminished. This means less talk about Vechain and more shifts to innovative currencies.
Pullix (PLX): A Fresh Wind in the Sails of Cryptocurrency Exchanges
Pullix (PLX) is generating buzz thanks to merging decentralized and centralized exchange features. It aims to provide a seamless trading experience while users still control their private keys during trades. There simply weren’t any trading tools on DEXs – until Pullix.
With rising regulatory pressures this is very appealing to many whale traders who are afraid of keeping millions on centralized exchanges like MtGox, FTX, or even Binance during their lawsuit. This made analysts predict a 200% surge during the presale and an x100 at the launch date.
It’s also appealing to those looking for higher returns since Ethereum Classic, Bitcoin Cash, and VeChain all have high market caps while Pullix is in its presale stage and able to pull an x100 easily, which is probably why analysts are expecting it to.
For more information regarding Pullix’s presale see links below: