Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Cardano breaks $1 for the first time since 2022 amid bullish momentum, while memeFi token Cutoshi emerges as a high-upside alternative.
With the crypto market riding the bullish wave, Cardano is seeing some major gains. The token has reached multi-year highs, breaking $1 for the first time since 2022. However, there’s a new token, Cutoshi, that is seen as a promising alternative with significant upside.
Cardano sees huge gains
Cardano (ADA) has been one of the strongest performers this cycle. Currently in 8th place among crypto assets, the token saw a 239.59% increase in the last 30 days. Cardano is currently a multi-year of $1.20, boosted by major developments in the markets.
The crypto bull rally has been one of the main contributors to Cardano’s rise. However, what was even more impactful was what was driving the bull rally. Notably, Cardano is one of the tokens that stands to benefit the most from the coming major shifts in US regulations.
Source: CMC
Most recently, traders are bracing for potential Cardano spot ETFs in the United States. So far, the SEC’s Gary Gensler was a major roadblock for that development. The SEC Chair was reluctant to approve spot altcoin ETFs, citing high risks and potential for manipulation. However, with his resignation, the agency is likely to take a new course.
What is more, the incoming US administration will likely be much more favorable to crypto regulation. As an established project, Cardano stands to benefit a lot from the regulatory change. With regulatory clarity, institutions are likely to pour new capital into credible projects like Cardano.
This is also reflected in the technical analysis of the token. Momentum indicators all suggest a strong buy, with moving averages trading far below Cardano’s current price. This suggests a strong outlook for Cardano in the near future.
Can Cutoshi reach $1 from its current $0.0259 level?
Cardano is a strong contender in the crypto space. However, investors who are opting for high-risk, high-reward plays are looking at Cutoshi (CUTO) as an alternative. This memeFi token is attracting attention from traders who value a strong technical foundation and utility. This combination is proving strong, as Cutoshi reached $1.2 million in presale investments in December.
Cutoshi is a token that combines memecoins with DeFi. Its mascot is the Chinese Lucky Cat, a symbol that is recognized throughout the world. At the same time, its inspiration is Satoshi Nakamoto, the legendary Bitcoin creator. Like Satoshi, Cutoshi is focused on decentralization and digital freedom.
At the heart of its mission is creating a decentralized ecosystem run by its users. Its multichain DEX wants to make DeFi more accessible than ever, offering a secure way for investors to handle their crypto. Security is key, as DEXs enable traders to retain the custody of their coins, securing them from misuse.
If Cutoshi succeeds in its mission, it has the potential to join the top 200, or even 100, crypto projects. At current prices, this would mean it has a real shot at $1. Currently trading at $0.031, the bullish case for the token would mean a significant upside.
To learn more about Cutoshi, visit the official website.
Join and become a community member on Twitter and Telegram.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Read the full article here