Solana has already cemented its place in crypto history, becoming one of the most sought-after Layer 1 projects in the space. However, 2024 gains could be vastly outshined by newcomer Elluminex (ELX) which is designed to unlock the latent potential of the Toncoin ecosystem with its cutting-edge DeFi protocol. Let’s dive deeper and discover why Elluminex is the game-changer investors have been looking for.
Elluminex: The First-Ever DeFi Platform On TON
Elluminex sets itself apart from the competition as the first-ever project to leverage the powerful Ton Coin (TON) blockchain. Elluminex taps into Toncoin’s underdeveloped DeFi niche, bringing a unique solution to the 950-million Telegram user base. Elluminex’s success formula is very straightforward: Telegram users are most likely to opt for a DeFi platform tailored specifically to interface with their most-used messaging app.
Elluminex offers an innovative cross-chain bridge, enabling lightning-fast transactions between isolated blockchains. This means that this is the last DEX crypto traders and holders will ever need. Moreover, this model also addresses the typical inefficiencies of single-chain platforms as liquidity is sourced from the different chains. This approach drastically reduces waiting times, while ensuring low slippage, allowing users to capture every opportunity without incurring exorbitant transaction fees.
One of the standout features of Elluminex is its focus on user autonomy. Holders will have full control over their assets without relying on intermediaries. Elluminex is also incorporating a native $ELX token that powers staking, governance, and other essential ecosystem features. With projected staking rewards as high as 18% APY, the project offers generous incentives for early adopters while promoting long-term engagement.
Here’s Why Traders Believe That Solana Could Reach $500
Solana (SOL) recently hit an all-time high of $293.31, driven by the viral launch of the TRUMP meme coin, which boosted Solana’s trading volume by 40%. This surge led to Solana reaching a new peak of $11 billion in Total Value Locked (TVL), and recording a massive $17 million in revenue in just 24 hours.
Predictably, investors started booking profits at the top, forcing Solana to retrace. At the time of writing, Solana trades for $240, following a 5.4% intraday decrease, however, this support level appears rock-solid and no further breakdowns are expected. Solana’s technical indicators show bullish momentum, with SOL holding above key Fibonacci levels and strong buying pressure. When considering all these factors, analysts are confident in their $500 target for SOL, supported by a possible ETF launch in 2025 and growing institutional adoption.
Telegram Will Only Accept Toncoin
Telegram has revealed that Toncoin will be the sole cryptocurrency accepted for its app services, ending support for all other blockchains. This decision comes as part of a new collaboration with the TON Foundation, which will see Toncoin serve as the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem.
Toncoin will also be the only cryptocurrency accepted for non-fiat payments for services like Telegram Stars, Premium, Ads and Gateway. Furthermore, Toncoin will be the exclusive currency used for compensating Telegram Mini App developers and channel owners. This move solidifies Toncoin’s position within Telegram’s ecosystem and sets the stage for explosive growth in 2025, powered by Telegram’s 950-million global user base. Experts agree that as of right now, Toncoin is largely undervalued at $5.15. However, with the Telegram news, and Elluminex becoming operational and funneling massive amounts of revenue into the TON ecosystem, Toncoin could soon enter a golden age and make its way into the crypto top 10.
The Elluminex Presale
Stage 1 of the Elluminex presale is now underway and $ELX tokens are selling at a price of just $0.06. Thousands of participants have already claimed nearly 5 million tokens, raising almost $300,000 in record time.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex