The US Securities and Exchange Commission (SEC) recently postponed its decision regarding Bitcoin ETFs. While many are skeptical about the SEC’s stance, others believe this would give way for mass approval. Meanwhile, Synthetix and Pullix are looking to benefit from the launch. The DeFi coins are hoping to see more rallies post-launch.
Bitcoin (BTC) ETF New Approval Date
Apart from Bitcoin’s (BTC) halving event in 2024, one news that has flooded the crypto space is the spot Bitcoin ETF. Top firms like BlackRock, 21shares, Fidelity, and Grayscale are among the numerous entities that have filed for a spot Bitcoin ETF product.
The US SEC was supposed to provide a verdict this year but postponed its decision. Now, the deadline for these applications is January 10th, 2024. The SEC’s decision to defer the approval process has increased anxiety about the regulator’s position on spot Bitcoin ETFs. The authorization of such ETFs helps widen the acceptance of cryptocurrencies.
It would create opportunities for institutional investors to access Bitcoin through regulated ETFs. According to Bloomberg Intelligence analyst James Seyffart, the regulator could simultaneously consider approving all pending spot Bitcoin ETF applications. This approach would ensure fairness among applicants and prevent potential disruptions in the market.
Synthetix (SNX) Sees Positive Rebound
The Synthetix network is a platform that allows users to generate synthetic assets, like stocks and commodities, which are tradable on the Ethereum blockchain. Meanwhile, Synthetix coin has seen a noteworthy rebound, given its recent price upswing.
According to CoinMarketCap, the Synthetix price has increased from a 7-day low of $3.28 to $4.09. The token has surged 12.2% and 44.9% on the weekly and monthly charts.
Also, Synthetix has seen a 96.9% increase in its year-to-date. Several factors have contributed to the surge in Synthetix prices. They include the introduction of the Perp V3 upgrade and the increasing popularity of DeFi on the Synthetix network.
Pullix (PLX) Offers Access To Diverse Assets
Pullix (PLX) is a new user-friendly trading platform where individuals can easily exchange assets like commodities, stocks, and digital currencies. This eliminates the need for multiple accounts on different platforms.
Traders can use crypto as collateral for over-the-counter (OTC) derivative trading on the platform. Another benefit of the platform is the ability to trade anonymously. Pullix does not request Know Your Customer (KYC) information during the registration process.
It has also introduced its own native token, the PLX token, which has the potential to become one of the top 5 cryptocurrencies released by exchanges. This ERC20 token is key to the cryptocurrency “Trade-to-Earn” concept. Trade to earn allows users to receive rewards for actively participating in trade activities such as buying, selling, and swapping different assets.
Individuals can also stake their ERC 20 tokens in order to receive passive income and staking benefits. They can supply liquidity to Pullix’s automated market makers via staking. The platform will be available in the first quarter of 2024, while the PLX token is currently worth $0.04.
Given the numerous features of the project and its native token, experts have predicted a massive inflow of users into Pullix. As a result, they have forecasted that Pullix will skyrocket 580% and become one of the new top 5 cryptocurrencies soon.
Conclusion
With the potential approval of all Bitcoin ETFs on the way, DeFi Coins like Synthetix and Pullix are set for more bullish gains in the coming weeks. Pullx presents the best opportunity for investors, given its low price and growth potential.
For more information regarding Pullix’s presale see links below:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Kanchanara on Unsplash
Source: null ts