Cortex (CTXC) Surges 25% and Becomes Top USDT Trading Pair on Binance
The native token of the Cortex blockchain, CTXC, has experienced a bullish momentum as it emerged as the top trading pair with USDT on Binance, the largest crypto exchange. As of now, CTXC is trading at $0.44, marking a 25% increase in the past 24 hours. Its market cap has also risen to $94 million, with a daily trading volume surge of 131% to reach $140 million.
CTXC Dominates Trading Volume on Binance and Bithumb
Data from CoinMarketCap (CMC) reveals that the majority of Cortex’s trading volume comes from its USDT pair on Binance, surpassing $85 million. The second-largest volume originates from the CTXC/KRW pair on Bithumb. However, the exact details of spot and futures trades remain unclear.
Whales and High Volatility
According to CMC data, nearly 98.8% of CTXC holdings are in whale wallets. When an asset is heavily influenced by whales, it often experiences high volatility.
Social Volume Soars While Development Activity Declines
Data provided by Santiment shows that CTXC’s social volume has skyrocketed by 500% in the past three days. On the other hand, Cortex’s development activity has been consistently decreasing since early July, experiencing a 78% drop over the past five months.
Hot Take: CTXC Sees Surge in Trading Volume but Development Declines
The recent surge in trading volume for Cortex (CTXC) on Binance indicates increased investor interest in the token. However, concerns arise as the development activity of the platform continues to decline. With the majority of CTXC holdings in whale wallets, high volatility can be expected. Traders should closely monitor these factors and conduct thorough research before making any investment decisions.
By
By
By
By
By
By