Crypto has seen its fair share of hacks, but Bybit’s recent $1.5 billion exploit sets a new record, plunging several top altcoins into the red. Ethereum, BNB and Avalanche (AVAX) were not spared; these top altcoins suffered huge blows.
Ethereum tumbled by 4%, while BNB and AVAX dropped by 4.2% and 8.8%, respectively, throwing many investors into a sea of red. As panic selling sets in, portfolios are trapped in the red, leaving traders desperately searching for a safe haven.
Thankfully, Remittix has come to the rescue. This new PayFi protocol is defying the bearish headwinds of the current market. Remittix has continued to gain traction against all odds, raising over 12.8M through its ongoing ICO.
BNB Price Action Within A Critical Range
BNB’s price action remains within a critical range, with volatility driven by technical indicators and liquidation pressures. A battle between bulls and bears has resulted in a neutral market outlook, with neither side fully in control.
In the early hours of Monday, BNB experienced intense selling pressure, as bears pushed the token below the $640 support level. However, bulls have managed to catch up with them, leading to a consolidation. BNB price, now stabilises at $641.46, with a 5.62% weekly decline.
Failure to hold the $640 support could accelerate selling pressure, dragging BNB down to $620 and beyond. If bears seize control, prolonged downward risks could push BNB even lower, mirroring the broader struggles of other top altcoins.
Avalanche Struggles to Hold
Since mid-December, Avalanche has faced a persistent downward trend, resulting in more than a 60% loss in value due to unyielding selling pressure. The impressive rally of November 2024 feels far away, as AVAX remains firmly in the negative.
The Bybit hack only worsened matters, locking Avalanche into an extended bearish trend. Currently, AVAX buys and sells at $23.17, representing a 6.02% daily dump for the token. Market sentiment surrounding Avalanche remains extremely bearish, with technical indicators pointing to further potential declines.
Two key price levels—$21.50 and $26.70—will determine AVAX’s next move. If Avalanche fails to hold above the lower threshold, further liquidations could drive the price even lower. However, a breakout above $26.70 could flip the narrative and pave the way for a trend reversal.
Remittix: The PayFi Protocol Defying the Market Crash
Remittix is a PayFi protocol that offers a solution to one of the most pressing issues in the DeFi market: instant crypto-to-fiat cross-border payments. With the adoption of this innovative solution, businesses and entrepreneurs could push cross-border transfers directly into local fiat bank accounts through the equivalence of their crypto holdings all at the tap of a button.
This changes everything because Ethereum, Avalanche or other top altcoins can now be used to make fiat transfers to anyone worldwide. If it had stopped here, it would already be fine, but it didn’t, making it even better by offering adopters a flat fee model. This feature would prevent unnecessary transfer charges; exactly what you send is what the recipient receives.
Industry experts are bullish on Remittix, citing its ability to address a $190 trillion market gap. Analysts predict that as adoption grows, Remittix could rally by at least 100x before 2026. And the numbers speak for themselves. Remittix’s ongoing ICO mirrors its expected market boom, with the project already raising $12.8 million from investors who recognize its potential.
Conclusion
Last week saw Ethereum, BNB, and Avalanche join nearly a quarter of the leading top altcoins, plunging to their lowest levels in over a year; prompting speculation about a prolonged bear season.
In times like these, the smartest move is to pivot toward projects like Remittix, with real-world utility and long-term growth potential. Remittix’s RTX tokens are currently offered for $0.0671 per token. Now is the time to act, accumulate Remittix now and watch the project boom in 2025.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
