The crypto bull run is bringing traders back into the market. Thanks to expected regulatory developments, traders are looking for projects with real utility. Solana, Cardano and a new DeFi coin, Cutoshi, are getting attention.
Solana Reaches ATH During Bull Run
Solana (SOL) has had a great run this cycle, hitting its new all-time high in November. Traders are optimistic about its long-term potential, but the token has since undergone a significant correction.
In November, Solana saw a major rally, reaching an ATH of $263.83. Since then, the token has corrected to $226.75, but is still up 38.38% over the past 30 days. The main reason for this rally is the significant political change in the United States, favoring utility tokens like Solana. With Solana ETFs likely to launch in 2025, investors are preparing for a major capital injection into SOL.
Technicals are also bullish on Solana. Long-term moving averages are bullish, indicating critical support at key levels. Yet other technical aspects are mostly mixed.
This indicates that buying pressure is weakening, despite rising prices. If the bullish scenario comes true, Solana can reach up to $404. Nonetheless, in the bearish scenario, Solana faces a potential decline of 60%, to $100.
Cardano sees huge surge and surpasses $1.2
After a year of decline, Cardano (ADA) seized the opportunity of this bullish cycle. The token reached a multi-year high of $1.27, registering an increase of 275.47% over the past 30 days. Now, investors are wondering if ADA can surpass its ATH of $3.1.
Aside from the general bullish market trend, political changes in the United States are the most likely catalyst for Cardano’s growth. The changes will ensure that projects like Cardano have regulatory clarity to continue to grow and seek investment. This is reflected in the technical data, which gives strong buy signals for ADA. Almost all key moving averages are bullish, with support at $1.
The forecast for Cardano is mostly bullish. For example, CoinPedia suggests that ADA could reach $2.42 by 2025. CoinCodex has the most optimistic prediction, placing Cardano at significant value by 2025. However, Changelly believes ADA will decline, reaching a lower maximum for ADA in 2025.
Cutoshi sees significant investment interest
With the changing regulatory climate in the United States, crypto is becoming mainstream. This is particularly important for utility tokens, like Cardano, Soana, and Cutoshi (CUTO). The latter is a new DeFi project that has recently attracted significant attention.
In November, Cutoshi attracted $1.2 million in pre-sale investments, just weeks after its launch. The key to this performance is its mix of memes and DeFi utility. While most other memecoins rely solely on hype, Cutoshi is building a DeFi ecosystem focused on real utility.
The long-term goal of the project is to create an ecosystem run by its users and attract more people to DeFi. Its multi-chain DEX will make trading easier than ever and allow users to keep custody of their crypto. As such, it is an important alternative to centralized exchanges. With merchants focused on utility and innovation, Cutoshi is attracting a lot of interest.
For more information on the Cutoshi (CUTO) presale:
Cutoshi
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