Nvidia Stock Dump Pushes Capital To DeFi Cryptos, Solana (SOL) and DTX Exchange Rally
Nvidia stock witnessed a huge sell-off as investors retracted their investments. Adding fuel to the fire, Nvidia CEO has also sold the company’s stock. This has created panic among the investors shaking their confidence and drawing a picture of potential drops shortly. The move has attracted scrutiny hampering the stock.
Investors have shifted focus to leading DeFi projects like Solana. SOL price has witnessed a surge following the investors’ shift from Nvidia. The same is the case with the emerging trading platform, DTX Exchange. Its presale has garnered investors’ interest post-Nvidia stock dump further increasing its popularity among investors.
Nvidia CEO Sells Shares Shaking Investors’ Confidence
Nvidia’s co-founder and CEO has been selling his shares, as the SEC reported a sell-off of 59,376 shares across daily transactions amounting up to $26.9 million. The CEO dumped shares roughly worth $42 million earlier too. This move has triggered many investors creating a threat of running out of stream.
The Nvidia stock dump is seen as a lack of confidence in its future performance. The company is considered to be under a microscope after the CEO’s sell-off. Investors are wondering whether AI stocks are in a bubble or still in the very early stages of a much more substantial long-term bull run. It’s not surprising that the processing leader has become a battleground stock.
Investors have shifted their focus to DeFi platforms due to their promising prospects. SOL’s price trajectory and DTX’s soaring presale have grabbed investors’ attention.
Solana Shows Resilience: SOL Price Ascendes Despite Market Turndowns
Solana has shown notable resilience and bullish potential amid the prevailing market downtrends. SOL price stabilized at a support level of $122 after experiencing a 35% decline since May 20th.
The support level has proven significant for SOL price as Solana showed an increase of about 10% within a 2-day time frame. Current trading figures from Ethnews list Solana at $136.33, showing a modest increase of 1.09% over the last 24 hours and 1.26% over the past week. The market capitalization of Solana reflects a similar uptrend, increasing by 1.13% to $63.11 billion.
The circulating supply also gives a bullish outlook with 462.2 million active tokens out of 578.9 million. This constitutes about 79% of the total supply. The high rate of circulation symbolizes increased market activity and investor engagement. This fosters confidence among the investors catalysing an uptrend for SOL price.
DTX Exchange’s Presale Performance Gathers Investors’ Confidence
Investors have found solace in the form of DTX Exchange. The emerging trading platform has become every investor’s dream due to its commendable trading methodology. The hybrid trading feature and 1000x leverage have put DTX on a pedestal in the DeFi space. Non-custodial wallets and distributed liquidity pools act as a cherry on top of this trading platform.
The platform has been creating a market frenzy with its presale performance as it raised over $735,000 in the second stage of its presale. DTX token is poised for exponential gains priced at $0.04. The token price will increase in the upcoming round of the presale. Market experts suggest investing in the emerging platform eyeing its growth potential.
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