FX Guys ($FXG) Gaining Popularity Among Ethereum and Cardano (ADA) Investors – Could This Be the Next Big DeFi Coin?

Ethereum Rebound Anticipated as On-chain Data Hints at a Possible Rally Upfront

Despite trading below $3,000 for weeks, a new report from 10X Research suggests that Ethereum could be on the verge of a notable uptrend. Analysts at 10X believe that ETH has bottomed out; hence, a trend reversal is imminent.

Naturally, the macro bottom is deduced using the 50-day and 200-day Exponential Moving Average (EMA) combined. Based on the research, ETHs bottom was at $2,175 in August 2024.

Besides 10X analysts, X-based crypto experts have also commented on Ethereums recent price actions and how they could determine its direction in the near term.

One such analyst who weighed in on ETH‘s price action was Income Sharks, who highlighted Ethereum’s higher highs and higher lows as a sign that a bullish reversal could be underway.

He criticized those who said it was over for Ethereum after it plunged to the October low of $2,100, drawing parallel to SOL, back when it was pronounced dead at $10.

The subsequent 24 hours of Income Sharks comment was accompanied by a 1.01% leap in the value of the second-largest cryptocurrency by market capitalization.

Cardanos TVL Approaches a New High: How Will ADA Respond？

The total value locked on Cardano is approaching a remarkable high primarily because of the growing use of DeFi protocols on the network and continuous improvements geared towards boosting throughputs and transaction costs. ADA rallied alongside several top DeFi coins during this period, registering a 1% price gain in the last 24 hours.

ADAs exchange chart shows an interesting pattern, with Binance technical data revealing the Cardano coin recovering from a decline after falling into a channel and smashing through its top layer. In most cases, this type of price action is considered bullish.

Coincidentally, ADAs trading volume has been on the rise, surpassing 61% in the last 24 hours. This volume spike suggests the market is showing interest in Cardano, particularly retail and institutional investors.

As the Cardano ecosystem witnesses more improvements, this will trigger a surge in ADAs price and TVL in the near term. Presently, ADA trades at $0.34, with an intraday gain of 0.74%.

The Battle Among the Top DeFi Coins to Buy: $FXG, ETH, or ADA？

As these coins continue to perform impressively, investors have decided that $FXG could be the best DeFi token among the trio to invest in. This conclusion stems from its profit projection in comparison with ETH and ADA.

Amid its ongoing presale, $FXG is predicted to rally 233% from its current price of $0.03 to $0.10, its final presale price in a few weeks. Seeing as its adoption rate is spiking, this may happen sooner than anticipated, giving more room for the DeFi token to grow, particularly after its exchange debut.

Hence, Ethereum and Cardanos investors are looking at the FX Guys token as it gears up for a massive explosion, thinking it could be the next big DeFi coin.