Cardano (ADA) and Stellar (XLM) are coming out of multi-month ranges. Analysts predict significant rallies by the end of 2024. Meanwhile, a new player in the crypto market is emerging, which might outperform them both.
Cardano (ADA): Reclaiming Key Level
Cardano (ADA) has finally reclaimed the significant $0.40 level and is currently consolidating around this mark. The current price is $0.40, up 12.7% from the previous month, with a trading volume of $347 million. This price surge signifies a breakout above the descending trendline that has been suppressing Cardano's price for the past six months. If this momentum continues, Cardano could easily surpass the yearly peak of $0.76.
Recently, a series of upgrades were introduced, enhancing the network's capabilities and capturing investors' attention. The most notable of these updates, the Chang Hard Fork, went live on September 1, making the ecosystem completely decentralized and transferring full governance keys to the thriving Cardano community.
Stellar (XLM): Signs of Trend Reversal
Stellar has been ranging around the $0.095 mark for months with slight deviations in either direction. Over the past month, however, Stellar (XLM) has started to show signs of an incoming trend reversal with a 5.1% monthly increase. Today, Stellar sells for $0.098 with a 16% surge in intraday trading volume, amounting to $61.4 million.
Recently, Stellar joined forces with MoneyGram and CEX.io to leverage Stellar's state-of-the-art framework to enable quick and efficient crypto-to-cash conversions and vice versa. This shows that despite Stellar's underwhelming price action, development and adoption continue undeterred, with more partnerships expected soon.
Cutoshi: The Rise of a New Cryptocurrency
One of the major drawbacks of meme coins is their lack of real substance. Meme coins rely mostly on virality, and once it dies down, most of them never recover. Cutoshi flips the script by offering a cutting-edge cross-chain DeFi protocol named CUTO DEX. The exchange will allow users to instantly swap assets between all major blockchains for a minuscule fee of 0.25%.
Cutoshi is inspired by the traditional Chinese Lucky Cat and aims to bring good fortune to its rapidly growing user base through several new income streams. Holders of $CUTO will be eligible for recurring staking rewards. Moreover, while the presale is still in motion, investors can participate in fun events and complete different tasks that will yield points. These points can then be redeemed for additional $CUTO tokens.
One of the most intriguing aspects of the Cutoshi ecosystem is the Academy. This is a learning platform designed to demystify DeFi and provide unfiltered crypto knowledge to newcomers. Beginners will learn the basics of crypto and more advanced concepts while being assisted in building profitable portfolios.
To support Cutoshi's rise, merchandise and unique NFTs will be available soon, allowing the community to spread the word and rep their new favorite meme coin.
While Cardano (ADA) and Stellar (XLM) show signs of growth, Cutoshi represents a new wave of cryptocurrencies, offering unique opportunities and innovations. Investors will be watching their further development with great interest.
