Uniswap Hit Its Highest Volume On Arbitrum. Elluminex Is Ready To Do The Same On TON

Arbitrum (ARB) has become by far the biggest Layer 2 scaling solution on the Ethereum blockchain, unlocking new levels of speed and efficiency. By extension, this led to Arbitrum supercharging Uniswap’s utility as the largest DEX platform in the DeFi space.

Elluminex (ELX) is poised to do the same for Toncoin (TON). Read on to discover how this newcomer captures the first-mover advantage and taps into the latent DeFi potential of one of the fastest-growing Layer 1s in the space.

How Elluminex Could Revolutionize DeFi On Toncoin

Since Uniswap was introduced, Ethereum has seen an incredible increase in activity and revenue. Similarly, Elluminex will elevate the TON blockchain, which still lacks a dedicated DeFi solution. Capitalizing on this opportunity could bring life-changing returns, as Elluminex could mimic Uniswap’s incredible 2021 run as the cycle progresses.

Users will enjoy a complete trading experience coupled with robust security features without having to compromise their personal data. Elluminex does away with the middlemen, allowing investors to retain complete custody over their funds.

In addition to this, the Elluminex exchange will provide a comprehensive cross-chain bridge that allows for seamless transactions between all major blockchains. This means that users won’t have to switch between different platforms to move assets across different chains. At the same time, slippage will also be reduced substantially as Elluminex sources liquidity from the different chains, solving at once one of the main issues plaguing single-chain DEXs. 

Bullish Pattern Appears On The Toncoin Chain

Toncoin enjoyed massive success throughout 2024, becoming one of the hottest Layer 1 platforms in the space. However, as turbulence intensified, Toncoin entered a narrow trading channel. At the time of writing, Toncoin is selling for $5.07, and over the last week, the price has stabilized around this level, with minor fluctuations in either direction. 

Despite Toncoin’s largely underwhelming price action, on-chain data shows significant improvements, as activity continues to rise. Daily on-chain wallet activations rose to 185,395 on Friday, the highest since December, bringing total activated wallets to over 38.8 million. Additionally, daily TON token burns increased to nearly 12,000, while minted tokens dropped to 80,800, signaling deflationary trends. Fees collected in the Toncoin ecosystem also surged to 23,790 TON, the highest in a month. Speculators predict a bullish breakout, noting low volatility and low-risk metrics, which often precede significant price swings. Furthermore, Toncoin’s symmetrical triangle pattern hints at a potential rally toward its all-time high of $8.30, a 55% gain from current levels.

Arbitrum Dominates Layer 2 Space

In November, Uniswap recorded an unprecedented $38 billion in volume, with Arbitrum alone accounting for a staggering $19.5 billion. However, despite its strong fundamentals and growing adoption, Arbitrum (ARB) has struggled throughout 2024. On the other hand, speculators believe that this could change soon as Arbitrum continues to tap into a crucial buy zone, establishing higher floor levels with each rebound. Arbitrum is now resting around support, selling for $0.72 with a 6.7% weekly increase. Meanwhile, the Arbitrum volume has skyrocketed, with CoinMarketCap showing a 133% increase for a total of $1.1 billion worth of ARB changing hands.

Typically, volume spikes of this magnitude often precede a violent upward move, and technical analysis seems to corroborate this thesis. Crypto expert Solber has shared a chart reading that draws a parallel between Arbitrum’s current price action and the late 2024 chart fractal. This means that this current consolidation zone could act as a springboard for a memorable Arbitrum rally that could propel ARB above the $2.40 all-time high as early as February.

The Elluminex Presale Sees Bullish Momentum

The Elluminex presale is live and ELX tokens are selling at a price of just $0.06. Thousands of participants have already claimed over 4.7 million tokens, raising nearly $300,000 in record time.

With DeFi set for a massive comeback, Elluminex could soon take the market by storm as the TON ecosystem continues to attract millions of new users every month. 

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

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