With the Bybit hack taking the market by storm, traders are looking for safe options to secure their wealth. Meanwhile, XRP and Cardano are going through a consolidation phase, leading traders to doubt whether they will have a potential uptrend. On the other hand, Cutoshi (CUTO) is becoming attractive due to its fast-paced presale and exciting features that are increasing its potential.

There has been a constant decline in the number of Cardano holders, but the total supply is increasing, amounting to 36.18 billion, indicating a vast amount of supply with no equal number of buyers.

When hackers breached the Bybit blockchain and stole around $1.4 Billion worth of assets, the entire crypto market was affected. However, Charles Hoskinson, the founder of Cardano and Ethereum’s co-founder, responded to the accident as an “Ethereum Classic” case.

Hoskinson has been recently indicating that Ethereum might be transferring permanently to Cardano, due to the latter's potential and security features.

The Bybit incident affected Cardano, resulting in the token going down by 2.44% in the past one week. As Cardano is standing at $0.7766 at the time of writing, it is hovering around the middle Bollinger band, showcasing a clear sign of consolidation. The MACD indicator is showing weak bearish momentum, with chances of a trend reversal, whereas RSI is standing at 51.30 which is the neutral zone.

XRP has been seeing a steady growth in the number of holders, roughly at 6.19 million indicating an increase in user engagement. However, the total supply of XRP remains constant at $99.98 Billion showing no recent token burn.

Besides, SEC has been silent regarding withdrawing from the long battle with Ripple. Though there are hopes, the case has lots of complications. As XRP had previously received an order from Judge Torres (at district level) on paying $125 Million as penalty, Ripple needs to approach the district level for a solution, even if SEC withdraws from the case. Meanwhile, traders are hoping for a statement soon as the SEC has recently dismissed the case against Coinbase.

XRP is standing at $2.5624 at the time of writing, showing a massive decline of 7.13% in the past week. It is showing signs of consolidation, with price being near the middle Bollinger band at $2.5694. However, both MACD and RSI indicators are showing a bearish trend, with the former being below the signal line, and RSI standing at 44.80.

While both Cardano and XRP are showing consolidation, Cutoshi is gaining attention from traders. An upcoming meme-utility project, Cutoshi is already starting conversations with its fast-paced presale movement, thriving token farming feature, and upcoming DEX cross-chain platform with non-custodial wallet, and other exciting features.

Built with the aim of spreading the teachings of legendary Bitcoin founder, Satoshi Nakamoto, Cutoshi focuses on providing financial freedom through various engagement models. The gamified yield farming is already attracting trader participation leading to high user engagement, as they get rewards for providing high liquidity.

Cutoshi is also designing engaging games and missions, winners of which will be awarded with CUTO tokens, limited edition NFTs, and recognition in the Lucky Cat Leaderboard. The project also has a special “Lucky Cat Shrine” where users can get exciting surprises and rewards upon completing missions.

Unlike Uniswap and Pancakeswap, which are still struggling with a streamlined swapping platform, Cutoshi is already designing a secure cross-swapping platform that supports over 20 blockchains, leading users to swap tokens without any hassle. Moreover, the in-built scarcity model and clear roadmap of Cutoshi is increasing trust amongst investors, for which the project is seeing a massive progress in its presale stage.

Currently valued at $0.045, Cutoshi has already raised over $2M. Post official launch, Cutoshi will have a solidified education DeFi platform, a non-custodial, multi-chain wallet, and a proper DEX platform.

With doubts creeping in due to the recent Bybit breach, traders are still looking into XRP and Cardano’s price movement. However, they are also searching for secure options that will safeguard their wealth and make buying, exchanging, and staking of tokens hassle-free. As Cutoshi fits into the view, it still remains to be seen how the token performs post its official launch. With the crypto market proving its volatility, it is better to conduct proper analysis before making any decision.

Cutoshi Live, Learn More Below:

• Price: $0.0487 per $CUTO

• Supply: 440,000,000 tokens (ERC-20)

• Website: https://cutoshi.com

• Whitepaper: https://cutoshi.com/whitepaper

• Telegram: https://t.me/cutoshicommunity

• X (Twitter): https://x.com/CutoshiToken

Cutoshi is a revolutionary meme coin inspired by the Chinese Lucky Cat and Satoshi Nakamoto’s teachings. It’s based on decentralization, privacy, and monetary freedom, embodying the blockchain's original purpose and ethos.

Cutoshi has a vision - to introduce more people to cryptocurrencies and bring financial freedom to all who want it.

Camila Perez

support@cutoshi.com

https://cutoshi.com/

View source version on newsdirect.com: https://newsdirect.com/news/cardano-and-xrp-investors-eye-new-entrant-into-the-memefi-space-482276855

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