Even though the crypto market is not stable currently, some coins are showing promising performance. Cardano (ADA) is experiencing an uptrend which could see the price attain a new level. Tron (TRX) has gained over 5% in the last few days, with holders optimistic of a rally. Kangamoon (KANG) is entering the billion dollar gaming industry leading to more inflow of users on the platform. Let’s look at the market activity of these tokens.
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Can Cardano (ADA) Break the $0.26 Resistance Level?
Cardano (ADA) has consolidated its price over the past few months. The price has been around the support zone for some weeks. However, the last few days’ rally has seen Cardano pushing hard to break the $0.26 resistance level. It has shown signs of underperformance by trading under the significant moving averages.
In the 30-day price chart, the Cardano token price has dropped by 4%. Its trading volume has not been impressive as investors are losing confidence in the project. Experts are optimistic that if ADA can break the $0.26 resistance level, it can have a new support zone with an extended rally in view. Digitalcoinprice foresees Cardano trading above $0.55 before the end of 2023.
How Will the Billion Dollar Tether Fuel the Rise of Tron (TRX)?
Recently, Tether’s Treasury Department announced that they are ready to pump $1 billion in USDT into the Tron Network, which will provide near-term USDT liquidity to the network. Based on the information from the Tether CTO, Paolo Ardoino, the USDT tokens would be used as inventory to “replenish” the Tron Network. The CTO further said that the event was an authorized and not issued transaction. That means this amount will be used as inventory for the next issuance requests and chain swaps from the TRX Network.
Analysts are optimistic that the event could lead to a positive turnaround of the Tron token. TRX has gained over 11% in the last 30 days. Analysts are projecting Tron to trade around $0.1 before the end of the year.
Kangamoon (KANG) Set To Dethrone Popular Meme Coins
While Cardano and Tron are showing bullish sentiments, Kangamoon (KANG) is also attracting investors to its ecosystem. Kangamoon combines a unique blend of meme coin culture with play-to-earn gaming elements. Its innovative approach has shown how it is determined to dethrone popular meme coins like Shiba Inu and Dogecoin to become the king of meme coins.
In the platform, players can assume the character of a kangaroo who loves to box. Players can build their characters and be able to compete with other players. Hence, they can enjoy an all-immersive experience while earning several in-game items.
It gets more interesting because players can trade these items for real value in the platform marketplace. Unlike traditional games, the play-to-earn structure helps players make a profit from their passion for gaming. Kangamoon network has meme non-fungible tokens (M’NFT’S) for holders to enjoy more incentives. SolidProof has audited the platform to ensure maximum security.
The utility token of the platform KANG is sold for $0.005. Analysts predict 220% growth by the completion of presale and 350% when KANG is launched on crypto exchanges.
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