Remittix (RTX) presale raises over $14.7M, eyeing XRP's spot as Bitcoin (BTC) nears $100K

It seemed like Bitcoin (BTC) was on its way to reclaiming $100,000 in early May, especially after the April bull run that drove the Bitcoin price from around $76K to $98K.

It seemed like Bitcoin (BTC) was on its way to reclaiming $100,000 in early May, especially after the April bull run that drove the Bitcoin price from around $76K to $98K. However, a market correction has caused the BTC price to drop to around $99K despite the surge in institutional purchases. Pi Network (PI) has also moved similarly, falling to around $0.63 after a fake Pi Network news hit the community.

Meanwhile, a new Payment Finance (PayFi) token called Remittix has been the shining star in the altcoin market lately, raising over $14.7 million during its presale. Investors are tipping the new altcoin to outperform Ripple’s XRP this year. Let’s find out why.

Remittix set to explode with PayFi features

The Remittix presale has taken the market by storm after reaching a milestone of over $14.7 million in a few months. The fast presale speed has caused analysts to tip the Remittix presale as the biggest this year, and investors have been purchasing RTX tokens in massive numbers.

These investors are backing Remittix early because of its massive potential for short-term and long-term gains. In the short term, the RTX token has seen its value increase across the presale stages, returning decent ROI to the earliest investors. Similarly, long-term investors are optimistic about the project’s promising future, especially after the RTX token gets listed on major exchanges.

One major driver for Remittix’s success in the future is its utility in the PayFi space. Currently, the sector is plagued with challenges like the availability of only crypto-to-crypto transactions and no support for traditional banking features. However, Remittix is solving these issues with its solution called the Remittix API, which enables direct crypto-to-fiat transactions.

With the Remittix API, users can make direct bank payments using cryptocurrencies and have the recipients get the funds in 30+ fiat currencies. Global businesses can also extend their products and services to crypto enthusiasts who prefer using digital assets for online payments and remittances. This is why some investors believe RTX would outshine established coins like BTC, XRP, and PI over the coming months.

Bitcoin price meets resistance at $97,000

The Bitcoin price has been moving between a support level of around $92,000 and a resistance level of around $99,000. Despite the late April breakout that sparked a mini bull run, the current BTC price movements show that a breakout through one of these levels will determine the next direction for BTC.

Nonetheless, Bitcoin maxis like Strategy founder, Michael Saylor and other BTC bulls are optimistic that the BTC price is set for bigger gains in the coming months, especially since it’s still holding to its month-on-month gains worth nearly 20%.

Pi Coin crashes as unverified news hits investors

In the past month, PI has seen its trading volume surge by over 30%, indicating investors’ strong demand for the altcoin. But recent Pi Network news has affected the PI price, which has now dropped by nearly 4% within the same month.

For context, the PI price dropped from over $0.7 to around $0.5 after a fake news article stated that PI had partnered with BNP Paribas to build a Pi Nexus Banking System. Despite the news being false, it caused panic among investors, who then sold off their PI tokens in droves.

However, members of the Pi Network community are hopeful that the token would maintain its recent bullish move instead of crashing further.