Binance (BNB) Price Trades At Key Support Level But Whales Are Backing This Altcoin

The cryptocurrency market is known for its volatility and uncertainty. However, Binance is losing its market at a rapid pace. The world’s largest cryptocurrency is caught up in a series of dreadful events. Meanwhile, investors have rushed toward Pullix, a new crypto project.

PLX is still in its presale phase and has emerged as a top contender to lead the market. Experts believe that its value will explode by 580% during the presale, and 10000% upon launch.

Binance (BNB) Faces Threats To Its Survival

The condition of Binance (BNB) is only getting worse as the largest crypto exchange faces new challenges. In the latest event, Binance (BNB) has announced withdrawing a license application in Abu Dhabi. Although the reasons are not public yet, it has come just two weeks after Binance (BNB) pleaded guilty to violating US anti-money-laundering regulations. Notably, Binance (BNB) has shut its operations in Canada, Russia, and the Netherlands.

Another looming threat to Binance’s (BNB) market standing is its declining spot trading volumes. According to CCData, the spot trading volumes of Binance (BNB) have fallen to 32%, while it was 55% at the beginning of the year. Its derivatives market share has also plunged from over 60% to 48%.

Meanwhile, the US Department of Justice’s (DOJ) latest unsealed filings have exacerbated the woes of Binance (BNB). As per John Reed Stark, an SEC official, these filings can pose severe threats to the existence of the world’s largest cryptocurrency exchange. He stated that the DOJ, and SEC scrutiny has put Binance at a crossroads.

These issues have caused Binance (BNB) to fall sharply on the price chart. In the past month, Binance (BNB) has lost over 6% of its market value. Currently, Binance (BNB) is available to change hands at $233.90.

Pullix Redefines The Online Trading Industry

A market report suggests that more than 550 million new crypto owners are likely to enter the trading industry by the end of 2027. However, recent controversies linked to major exchanges like Binance have made traders shift their attention towards decentralized exchanges. Thus, Pullix, a new crypto exchange, is leading the market.

It is a disruptive blockchain platform that aims to provide a seamless web-based trading experience. The platform boasts features like instant accessibility, secure and encrypted infrastructure, and real-time community engagement, which traders can use to maximize their profits. 

PLX will serve as the native token of the platform. Notably, the platform’s smart contracts have undergone thorough audits conducted by leading players like InterFi. The successful audit ensures the security of the token, and the proper functionality of the platform’s code. Interestingly, with an increase in the number of traders that accumulate PLX tokens, the loyalty rewards will surge.

The platform users can also generate passive income by staking their tokens. According to the whitepaper of the project, the platform will distribute up to 30% of the daily revenue among the token stakers. Besides, token holders can also become liquidity providers to earn a fixed interest rate.

The platform’s presale phase is ongoing. During the first stage, a token is available to buy at $0.04. The total supply cap of PLX tokens is 200 million, and 60% of them are reserved for the presale phase. More than 5 million tokens were sold within the initial weeks of its launch.

For more information regarding Pullix’s presale see links below: 

Visit Pullix 

Join The Pullix Communities

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