In the same month that FTX founder, Sam Bankman-Fried and Binance CEO, Changpeng Zhao were found guilty of fraud allegations and criminal charges respectively, Coinbase experienced a remarkable surge with value increasing by 60% in that same month.
However, will this upsurge continue for Coinbase? While we discuss this possibility, we’ll also delve into the chances of PancakeSwap and Pullix to surge even higher.
Coinbase (COIN) May Rally Even Higher, Says Experts
To begin with, Coinbase saw an 86% decline in its value sometime in 2022. This bearish move was attributed to escalating inflation and rising interest rates, prompting investors to depart from the crypto and high-growth tech sectors. Fast forward to now, Coinbase has remarkably rebounded, exhibiting a 300% surge in the current year.
This resurgence aligns with anticipations surrounding a bitcoin ETF and improved regulatory conditions. Notably, crypto analyst Needham has raised the stock’s target price to $160, citing potential catalysts such as the prospect of a bitcoin ETF and the impending mining reward halving.
While Coinbase faces a reduced retail interest, Needham remains optimistic, banking on the exchange’s competitive positioning. Additionally, the recent Binance and FTX settlements are seen as an opportunity for Coinbase to gain market share.
Furthermore, Needham believes Coinbase’s positive outlook is supported by increased retail interest and a brighter industry outlook, leading them to recommend it as one of the best crypto investments.
PancakeSwap May Fully Recover From Its Year-Long Decline and Surge Higher
In the past year, PancakeSwap (CAKE) saw a notable price decline, surpassing 38.47%. This has caused investors to question its viability as a favorable crypto to buy. However, recent developments suggest a positive turn for PancakeSwap price, with a significant 9.40% increase recorded over the last 7 days.
This upward momentum has exhibited a degree of stability, positioning the current PancakeSwap price at $2.43, accompanied by a 4.29% rise in the market cap to $629 million. With the current price surpassing the support level of $2.3471, there is potential for a sustained upward surge.
Pullix’s Unique Hybrid Ecosystem
Hybrid crypto exchange platform, Pullix is attracting attention from investors mostly because of its innovative solution. With a public launch scheduled for January 2024, Pullix brings to crypto enthusiasts a trade exchange platform that harnesses the benefits of CeFi & DeFi, while also incorporating elements of online OTC trading.
Unlike PancakeSwap which only offers a decentralized network for exchange transactions, Pullix aims to deliver a comprehensive trading experience that involves high level liquidity provision, faster transactions, yield farming and an easy usage system that is unique to both CEX and DEX.
Amongst other factors that makes Pullix a potentially successful platform is the ensuring of price stability and growth mechanisms. Users can be rest assured as the platform plans to offer up to 30% of its earnings to maintain stability and potential growth.
Additionally as the first community-backed exchange with a trade-to-earn token for varieties of uses and benefits, Pullix is an interesting project to watch.
For more information about Pullix, visit details below:
Website: https://pullix.io/
Twitter: https://twitter.com/pullixmarkets
Telegram: https://t.me/pullixmarkets
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