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Cryptocurrency News Articles
Cutoshi and BlockDAG Set to Outshine Cardano as Presales Gain Momentum
Oct 21, 2024 at 03:34 am
While upcoming cryptocurrencies like BlockDAG and Cutoshi are set to yield massive profits for holders, Cardano is still hovering around the $0.35
Cardano (ADA) still trades within a narrow range, despite the bullish Q4 performance. On the other hand, upcoming cryptocurrencies like BlockDAG (BDG) and Cutoshi (CUTO) continue to attract investors with their presales.
Cardano (ADA) Price Analysis
Cardano is yet to show signs of a bullish recovery, despite the promising performance of several cryptocurrencies in Q4. According to the latest analysis, ADA price movements are still largely dictated by a bearish head and shoulders pattern formation. This technical formation indicates a potential sell-off as the price approaches a key resistance level.
The In/Out of the Money Around Price (IOMAP) model reveals a significant resistance level at around $0.39. At this level, over 160,000 addresses are reported to be holding over 2 billion pieces of the Cardano coin. This high concentration of “out of the money” holders suggests that there may be a potential sell wall, as many traders might be looking to liquidate their positions to minimize losses.
Bearish Pressure Might Push Cardano Price To $0.31
A further examination of the Cardano price chart reveals that the recent bullish move might be coming to an end. This is evident from the formation of a bearish head and shoulders pattern on the price chart. If the bearish pressure intensifies, we can expect to see a decline toward $0.31 for Cardano.
However, if the bulls manage to push the price of Cardano above the $0.39 resistance level, then the altcoin may retest $0.45, a level last seen in July. Despite these price movements, the community sentiment toward Cardano remains strongly bullish, especially following the recent Vasil hard fork.
BlockDAG (BDG) Presale Surges Past $96 Million
Web3 and Layer 1 DAG protocol BlockDAG has continued to attract investors in its presale, which has now crossed the $96 million mark in revenue. This follows a recent announcement revealing that over 14.2 billion tokens have been sold.
The BlockDAG presale began in August of this year, offering BDG tokens at a starting price of $0.01. Since then, the price has increased in stages, with each token now selling for $0.0206. As the presale progresses, the remaining tokens are being sold at a incrementally higher price.
Moreover, the BlockDAG presale has a minimum contribution amount of $100 and a maximum contribution amount of $250,000 for Block ホルダー. Block ホルダー are also entitled to a 15% bonus on their purchase, while standard presale participants will receive a 10% bonus.
BlockDAG Amassed Almost $97 Million From Presale Sales
The BlockDAG protocol is designed to facilitate high-throughput transactions at low costs. It also aims to provide a user-friendly experience and integrate with multiple blockchains. Among the investors participating in the BlockDAG presale are wealthy individuals and large-scale investors.
As the presale nears its $600 million target, investors are flocking in to secure the lowest possible price for the BDG token. Early participants have already seen ROIs of over 1,900%, and some projections suggest that the token’s value could jump 1,000x in the coming years.
Cutoshi (CUTO) Presale Gains 200% Rally Anticipation
Investors are showing great interest in the Cutoshi (CUTO) presale, which has already raised over $500,000 in just a few weeks. Cutoshi, a meme token on a mission to bridge the gap in decentralized finance (DeFi), is offering several earning potentials to investors.
The Cutoshi ecosystem includes a multi-chain DEX, farming, academy, NFTs, and merch, among other benefits. Notably, Cutoshi is already listed on CoinMarketCap, boosting its visibility and credibility. Moreover, the CUTO token presale began in stage 1 at a price of $0.017, and each token is currently selling for only $0.022 in stage 2.
Cutoshi Is A Worthwhile Investment In 2024
The Cutoshi ecosystem delivers real value to DeFi enthusiasts. Unlike many other meme coins like Dogecoin and Shiba Inu which rely on hype from their respective communities for performance, Cutoshi prioritizes utility alongside memes. For example, the Cutoshi DEX permits users to conduct secure swaps across multiple blockchains.
Moreover, users who are tired of having to pay extra fees when moving from one platform to another to swap tokens across several blockchains will find the Cutoshi DEX favorable. Also, the Cutoshi farming enables the community to earn rewards by just completing quests and collecting points. This provides an additional source of income for active community members.
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