As the crypto market grapples with a dominant bearish force, experts have identified a crucial support level for Ethereum (ETH). Meanwhile, the DeFi sector is witnessing an influx of investors, with coins like ONDO and FXGuys ($FGX), an upcoming Ethereum-based token, emerging as top picks.
What’s in store for Ethereum (ETH), and why are ONDO and FXGuys ($FGX) making waves in the DeFi sector? Read on to find out!
Ethereum Plunges 9% in a Week: Support Level Incoming!
Ethereum has performed dismally over the past seven days. On September 1, 2024, ETH was changing hands at around $2,503. After maintaining this level for two days, Ethereum experienced a sharp decline on September 4 after Fidelity sold 2,812 Bitcoin (BTC), triggering a plunge in most top altcoins.
Specifically, ETH traded as low as $2,172 on September 6, nearing the $2,000 support level multiple experts have identified.
Luckily, Ethereum recovered partially before stabilizing at around $2,275 as of September 8. This price indicates that ETH has plunged 9% in a week. Also, the 24-hour ETH trading volume is down 23%, meaning more losses might be in store.
ONDO Dumps 4% in a Week: What’s Coming Next?
ONDO has also recorded notable losses over the past week. On September 1, 2024, ONDO was hovering around $0.61. Like ETH, ONDO slumped sharply on September 4 due to the Bitcoin-led marketwide rout. The resulting downtrend saw ONDO trade as low as $0.54 on September 7.
However, ONDO experienced a partial recovery as investors diversified their portfolios with leading DeFi tokens. By September 8, ONDO had leveled off at around $0.58.
This price means ONDO has slid 4% in a week. Additionally, the 24-hour ONDO trading volume has plummeted 32%. However, experts expect growing demand for DeFi tokens to trigger a resurgence soon.
FXGuys Rocks the DeFi Sector With Its Unique Offerings!
FXGuys, an up-and-coming DeFi project, has taken the crypto-verse by storm due to its one-of-a-kind offering. This new project aims to build a unique forex trader development ecosystem. Particularly, the FXGuys platform boasts a prop funding program and analytics and social trading tools.
Notably, the FXGuys platform supports the trading of multiple asset classes. These include RWAs like gold and oil, cryptos like Bitcoin and Ethereum, and FX like NVIDIA (NVDA) and Tesla (TSLA). This wide-ranging offering enables traders on the FXGuys platform to effortlessly diversify their portfolios for peak profitability.
However, the most notable feature of the FXGuys platform is its Trade2Earn model. Through this model, investors can earn FXGuys’ native token, $FXG, for every trade they complete. Moreover, FXGuys rewards traders irrespective of whether their trades are profitable or not. What’s more, traders can swap their $FXG tokens for trading benefits like lower profit targets.
Moreover, FXGuys has a forex funding feature, which offers talented traders who have passed its challenge phase up to $200,000 in capital. Investors can leverage this capital to execute more trades and raise their trading volume to earn more $FXG.
$FXG Presale Promises Numerous Benefits: Huge Returns Incoming!
Apart from its impressive platform, FXGuys has captured the interest of DeFi traders because of $FXG. $FXG is grabbing headlines because it boasts a limited supply of 835 billion tokens. Coupled with its utility within the FXGuys platform, this limited supply offers this DeFi token long-term viability, making it a good investment.
Furthermore, $FXG has caught investor attention because its holders get a loyalty member status, which comes with perks like voting rights. By voting on governance proposals, $FXG HODLers can help shape the future of the FXGuys platform.
Moreover, Soken, a top blockchain security firm, audited $FXG’s smart contract, verifying that the token is safe to invest in.
As of September 2024, $FXG is proceeding with the private sale phase of its presale, with each token going for $0.015. When $FXG enters Stage 1 of its presale at $0.03, private sale round investors will enjoy a 100% ROI. This ROI is set to increase to 566% when $FXG soars to its listing price of $0.1.
This impressive growth potential makes $FXG the best DeFi token to buy now for enormous returns in 2024 and beyond!
