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Elon Musk is reportedly planning to launch a decentralized exchange (DEX) on X (formerly Twitter).
Crypto researcher Atlas took to X to break the news, pointing out that this move could result in the introduction of hundreds of millions of users to crypto.
Keep reading to learn more about Musk’s DEX plans, what it means for crypto, and how investing in the best altcoins could help you make the most of it. Musk’s Boldest Finance Move Yet
A native DEX on Twitter will transform the platform into an ‘everything app,’ which Elon Musk has gone on record to say was his goal.
Another reason to believe that we could soon see X turning into a full-blown financial ecosystem is Linda Yaccarino, CEO of X, who recently confirmed that in-app tipping, payments, and investing are already in the pipeline. For X users, this could mean enhanced financial privacy, total control over their funds, and lower transaction fees, as well as the ability to trade stablecoins, $BTC, $ETH, and other tokenized assets directly from within the X app.
Although Musk hasn’t officially confirmed the decentralized exchange, users have spotted a GitHub code snippet on X that suggests a DEX is already in the works. What This Means for Crypto & Altcoins?
Integrating a DEX into X (a platform with 650M active monthly users) will crank up crypto’s visibility and mainstream adoption. It will eliminate the need to maintain third-party crypto apps and wallets, making it easier for the average person to interact with crypto. As folks get comfortable with the idea of dealing in altcoins, they’d naturally understand the potential of investing in these tokens. This will further drive up their popularity and trading volume.
Also, let’s not forget Musk’s crypto effect. Just a couple of weeks back, he uploaded a clip from a video game where his character was named Kekius Maximus. As a result, $KEKIUS tokens soared almost instantly.
So, if Musk’s DEX supports or even mentions specific tokens, those could very easily emerge as the top trending cryptos.
With that in mind, here are the best cryptos to buy now to benefit from the hype around a revolutionary X DEX. 1. Snorter Token ($SNORT) – Best Altcoin to Buy Now, A New Feature-Packed Trading Bot
Snorter Token ($SNORT) could be the next crypto to explode thanks to its one-of-a-kind Telegram trading bot that comes with advanced tools, tight security, and a top-notch user experience.
Snorter’s biggest selling point is its ability to swipe liquidity in new meme coins.
In our experience, doing so manually, i.e., without Snorter Bot, would be nearly impossible because institutional crypto investors eat up all the liquidity in new tokens using advanced tools.
By allowing you to buy meme cryptos as soon as they’re listed, Snorter gives you the opportunity to make huge gains that are generally associated with price jumps in freshly listed altcoins.
Additionally, $SNORT token holders will benefit from reduced trading fees: just 0.85%, which is noticeably lower than the industry standard of 1%.
Snorter Bot is a force to reckon with in terms of security, too. From routing your swaps through a private Solana RPC infrastructure to using MEV-resistant relays and other techniques to protect you against sandwich attacks, honeypots, and scams, it’s a complete package.
Buy Snorter Token now for just $0.0961 each. The project is currently in presale, and it has raised over $1.16M. 2. Best Wallet Token ($BEST) – Top New Altcoin Powering the Best Wallet Ecosystem
Speaking of crypto apps that could revolutionize the DeFi space, Best Wallet is a free crypto wallet offering a secure and seamless user experience, as well as the ability to buy new meme coins on presale directly from within the app.
Powered by the Best Wallet Token ($BEST), Best Wallet is self-custodial. This simply means that it doesn’t belong to any company or crypto exchange, so no one has access to your crypto except you.
Other security measures include advanced cryptographic techniques (Fireblock’s MPC-CMP wallet technology) and two-factor authentication/biometrics for app login. Best Wallet aims to capture 40% of the non-custodial crypto wallet market, which is expected to grow at a CAGR of 8% and reach a valuation of $1.5B in the next few years, by 2026.
You can make the most of Best Wallet’s growth trajectory by buying $BEST, the token that powers its ecosystem. It’s currently available for just $0.025215, with the presale having raised over $13.4M so far. 3. XRP ($XRP) – Big-Name Crypto Teasing a Breakout
XRP, the fourth biggest crypto in terms of market capitalization, has been in a massive consolidation zone for the past few months.
Expert traders (such as Crypto Beast on X) believe that a breakout of this zone could see the token explode 300% and reach $8. $XRP is currently trading around $2.11.
A huge reason for this bullish bias is the recent approval of a spot XRP ETF by Canada’s Ontario Securities Commission (OSC). It will soon be launched on the Toronto Stock Exchange (TSX).
Also, approximately 2,700 whales now hold more than 1M $XRP, which is the highest ever. And XRP’s active addresses have also increased to 295K per day, as compared to 35K-40K in the previous few months. Bottom Line
With Elon Musk planning to blur the lines between finance and communication by building a decentralized exchange (DEX) on X, we could see an unprecedented number of users entering Web3 and decentralized finance. Naturally, this could result in a spike in interest in high-potential tokens like Snorter Token ($SNORT) and Best Wallet Token ($BEST), which could lead the next altcoin rally.
That said, bear in mind that crypto investments are risky because of the market’s volatility and uncertainty. This article isn’t financial advice, and you must always do your own research before investing.