Traders Blame CZ and Binance for Market Dump, Massive Shift to Rival Exchange Token Observed
Recently, Changpeng Zhao also known as CZ and Binance have faced criticism, with traders blaming the exchange’s token listing practices for market instability. Meanwhile, the BNB price has declined considerably compared to last month. Amid the CZ and Binance saga, plus the BNB price downward trend, investors are shifting to the DTX Exchange.
DTX Exchange is in the final stage of its presale, raising $15.1 million, thus offering the token at a discounted price of $0.18. Moreover, the DTX token will go live at $0.36, offering a 2x surge upon launch. Here’s why DTX Exchange is getting massive attention.
DTX Exchange Offers Hybrid Trading and Fast TPS
DTX Exchange is gaining attention in the trading industry, raising over $15.1 million during its presale phase. With a community of more than 720,000 holders, the platform has seen notable early growth.
It is a hybrid trading platform that runs on the VulcanX blockchain infrastructure. This technology could support high transaction speeds of 200,000 TPS. Such efficiency could help maintain smooth trade execution, even during periods of high market activity. Given BNB’s low TPS of 10,000, traders may tilt towards DTX’s platform.
The platform offers traders a 1000x leverage to maximize their potential profits. This feature will enable users to trade with up to 1000 times their initial investment, providing greater market exposure, regardless of the user’s capital.
DTX’s integrated trading ecosystem, along with its ongoing presale success, has contributed to increasing investor interest. Thus, DTX could be positioned as a potential competitor to established exchanges like Binance.
Traders Blame CZ and Binance for Market Decline
Changpeng Zhao (CZ), the former CEO of Binance, recently expressed concerns about the exchange’s token listing process, calling it “a bit broken” due to its impact on market prices.
On February 9, CZ took to X to highlight how Binance’s practice of announcing new token listings only four hours before trading begins leads to price surges on decentralized exchanges (DEXs).
Market participants have responded to these developments under CZ’s post, with some raising concerns about market manipulation linked to Binance’s practices. Meanwhile, the BNB price has declined over the past few weeks.
Over the last seven days, the BNB price has dipped by 4.29%. The BNB price fell further from $649 to $627 month-to-date, recording a decline of 3.28%.
Source: CoinCodex
Amid these concerns, some traders are exploring alternative exchanges. One platform gaining attention is DTX Exchange. The exchange has reportedly raised $15.1 million in its presale, attracting users looking for alternatives amid Binance’s practices and the BNB price decline.
Why Investors Are Shifting from BNB to DTX Exchange
DTX Exchange is approaching the final stage of its token presale which is selling out fast. So far, the platform has raised over $15.1 million, drawing interest as a hybrid trading platform.
Currently, the tokens are available at a discounted price of $0.18 in the ongoing bonus presale phase. This allows investors to purchase the token at a lower rate before it launches. With the DTX token set to launch at $0.36, investors who enter at this stage will get a guaranteed 2x return upon launch.
The platform also boasts 720,000 holders; some analysts expect further participation as interest grows. Recent fluctuations in BNB price and shifting investor sentiment toward Binance have led some traders to explore alternative options.
Given these trends, some market watchers believe DTX could gain traction as its presale continues.
Conclusion
CZ and Binance are facing criticism from traders who believe the exchange’s token listing practices have contributed to a market downturn. The declining BNB price has further fueled concerns, prompting some investors to seek alternative trading platforms.
As traders move away from CZ’s Binance, DTX Exchange is gaining traction by raising over $15 million during its bonus presale. The DTX tokens are in high demand, and the window to grab these tokens at $0.18 is closing soon. Hence, experts suggest investors to jump in now before they miss out on the 2X returns opportunity.
Check out these links for more information about DTX Exchange:
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