Market
Could this new under-$1 cryptocurrency see 100x gains to become the next Solana or Polygon?
Just a few years ago, it would have been difficult to foresee the meteoric rise of projects like Solana (SOL) and Polygon (MATIC). Early investors in these platforms reaped significant profits, thanks to their rapid growth potential and innovative technology. Now, another contender, Rexus Finance (RXS), is stepping into the spotlight, with some analysts highlighting it as a promising altcoin priced at under $1.
Rexas Finance (RXS): The Next Solana or Polygon?
Rexus Finance (RXS), like Solana and Polygon in their early stages, is a project with the potential to tackle some of the most pressing issues in decentralized finance (DeFi), including scalability, efficiency, and cost. Its focus on real world assets puts it front and center in some huge global industries, including real estate and commodities.
Successful Presale Reflects Strong Investor Interest
One of the early indicators of Rexus Finance’s potential is the strong performance of its token presale. Stage 1 of the RXS presale sold out in less than 72 hours, drawing significant interest from both institutional and retail investors. Currently in Stage 2, RXS tokens are now priced at $0.04 each.
The rapid sellout of Stage 1 suggests growing market confidence in Rexus Finance’s vision. Some of the analysts that saw early success with projects like Solana and Polygon are now showing interest in RXS, seeing a similar growth opportunity. For new investors, Rexus Finance presents a unique prospect, with the possibility of substantial upside according to several analyst predictions.
Disrupting DeFi with Advanced Technology
Rexus Finance aims to address key challenges in the DeFi sector, such as high fees, long transaction times, and network congestion. Its scalable infrastructure allows for thousands of transactions per second, making it well-suited for dApps and smart contracts. Additionally, Rexus Finance’s cross-network functionality enhances its competitiveness by allowing decentralized applications to interoperate seamlessly.
This bridge technology, which connects various decentralized applications, could provide Rexus Finance with a critical edge in the future DeFi ecosystem. Its robust infrastructure and ability to integrate different blockchain networks make it a compelling platform for developers and users alike.
A Clear Roadmap for Future Growth
The Rexus Finance team has laid out an ambitious roadmap focused on expansion and innovation. Following the presale, the next key milestone will be the public listing of the RXS token. This will enable full utilization of the token for transactions and development on the platform.
As RXS becomes more widely available, demand is expected to increase as developers deploy smart contracts and build dApps on the network. This increased usage could drive up the utility and, potentially, the value of the RXS token over time, according to some market forecasts.
Could Rexus Finance Be the Next 100x Altcoin?
While the cryptocurrency market is notorious for its unpredictability, some projects have managed to achieve remarkable growth, as seen with Solana and Polygon. Rexus Finance stands out due to its combination of innovative technology and strong investor interest, which could make it a significant player in the market. Several analysts suggest that Rexus Finance has the potential to deliver substantial returns, possibly even 100x growth in the long term, though this still remains speculative at this early stage.
Rexus Finance’s advantages—scalability, transaction speed, low fees, and solid infrastructure—are similar to the factors that fueled the success of its predecessors. With a token price currently well under the $1 level, it presents an attractive entry point for those looking to invest in early-stage blockchain projects.
Conclusion: A Promising Future for Rexus Finance
Rexus Finance (RXS) has demonstrated its potential to make a significant impact in the DeFi space – and its presale is demonstrating that many investors agree with its upside potential.
While predicting future success in the volatile crypto market is always challenging, Rexus Finance’s innovative approach and early market traction suggest that it could become a key player in the industry. Its fast, scalable blockchain and strong presale performance suggest that the project is attracting attention from both developers and investors.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
Market
Polymarket Faces Ban in France as US Election Betting Ends
According to a report from The Big Whale, the National Gaming Authority (ANJ), France’s gambling regulator, is preparing to block the prediction markets platform Polymarket.
Polymarket, the decentralized platform that allows users to bet on the outcome of political events, sports, and other occurrences using cryptocurrency, has gained popularity in recent months, especially with bets surrounding the US presidential election. More than $3.2 billion was reportedly wagered on the platform during this high-stakes period, with a record-breaking $294 million in volume on November 5 alone.
France Users May No Longer Access Polymarket
According to The Big Whale, a French website that covers the crypto industry, the ANJ’s impending ban comes after a French trader placed a $30 million bet on a Trump victory, reportedly attracting the regulator’s scrutiny.
The trader’s wager positioned him to make approximately $19 million in profits, a sum that has intensified concerns over Polymarket’s compliance with French gambling laws. A source close to the ANJ stated that despite Polymarket’s use of blockchain and cryptocurrency, its activities are akin to gambling, making it subject to restrictions under French law.
“We are aware of this site and we are currently examining its operation as well as its compliance with French gambling legislation,” The Big Whale reported, citing an ANJ spokesperson.
Read more: What is Polymarket? A Guide to The Popular Prediction Market
Legal expert William O’Rorke from ORWL Avocats explained that although Polymarket does not specifically target French users, its activities fall squarely under gambling regulations.
“Polymarket involves betting money on uncertain outcomes, which aligns with the legal definition of gambling,” O’Rorke noted.
Against this backdrop, the ANJ is well within its mandate to block the platform’s access in France. Accordingly, the French regulator may enforce the ban by blocking Polymarket’s domain name in France. It amy also pressure third-party players, like media outlets and online directories, to limit access to Polymarket links.
However, French users may still circumvent this by using virtual private networks (VPNs). This is because Polymarket’s crypto-based infrastructure allows for relatively anonymous participation.
France’s looming ban is not the first regulatory roadblock Polymarket has encountered. In 2022, the US Commodity Futures Trading Commission (CFTC) fined Polymarket $1.4 million for failing to register as a designated contract market. The CFTC also challenged Kalshi’s operations due to questions about betting on political events.
Polymarket’s Fate After US Elections
Meanwhile, the US election was a significant catalyst for Polymarket. It drove the platform to new heights in user engagement and bet volume. Polymarket’s election-related markets have been featured on major financial platforms, including Bloomberg, highlighting the platform’s appeal to mainstream finance.
As BeInCrypto reported, Polymarket’s election betting topped $3 billion, reflecting unprecedented participation. The platform, however, faces a crossroads in its path forward. Following the climax of the US election on Wednesday, data from Dune Analytics shows a steep decline in Polymarket’s activity.
Daily active addresses and transaction volumes, which soared in the election lead-up, have notably dwindled as election-related betting winds down. For instance, Polymarket’s open interest, a key indicator of active betting engagement, dropped from $350 million to $268 million after the polls closed. Similarly, monthly new accounts have also dropped by over 41% between October and November.
Against this backdrop, Polymarket may need to diversify its market offerings or potentially embrace a new model to maintain user interest. This is considering election-related activity comprised the majority of the prediction market’s volume.
Rumors are circulating about a potential move toward a decentralized governance token, which could distribute control over Polymarket’s operations to its community. This shift would reduce the liability of the central authority by decentralizing decision-making, though it remains theoretical, with no clear timeline.
Read More: How To Use Polymarket In The United States: Step-by-Step Guide
Polymarket’s fast ascent and regulatory challenges highlight broader industry tensions between innovation and compliance. With election predictions no longer a draw and an impending ban in France, Polymarket’s future remains uncertain.
Its long-term viability may depend on how well it adapts to evolving regulatory landscapes and whether it can maintain popularity beyond election season peaks.
Disclaimer
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Market
XRP Price Ready to Rally? Signs Point to a Bullish Move
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Market
Solana (SOL) Rallies Strongly, Setting Sights on $200
Solana started a fresh increase above the $172 support zone. SOL price is rising and might soon aim for a move toward the $200 level.
- SOL price started a fresh increase after it settled above the $165 level against the US Dollar.
- The price is now trading above $172 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could continue to rise if it clears the $192 resistance zone.
Solana Price Starts Fresh Rally
Solana price formed a support base and started a fresh increase above the $162 level like Bitcoin and Ethereum. There was a strong move above the $165 and $172 resistance levels.
There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair. The price even cleared the $185 level. A high is formed at $192 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $155 swing low to the $192 high.
Solana is now trading above $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $192 level. The next major resistance is near the $195 level.
The main resistance could be $200. A successful close above the $200 resistance level could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $220 level.
Another Dip in SOL?
If SOL fails to rise above the $192 resistance, it could start a downside correction. Initial support on the downside is near the $188 level. The first major support is near the $180 level.
A break below the $180 level might send the price toward the $172 zone or the 50% Fib retracement level of the upward move from the $155 swing low to the $192 high. If there is a close below the $172 support, the price could decline toward the $165 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $188 and $185.
Major Resistance Levels – $192 and $200.
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