The price setup has continued to move against the Cardano price favor lately, as the price has maintained consolidation below $0.9. In fact, further analysis shows that it is currently on a two-week bearish streak, with the price now trading even below $0.85.
Whereas Cardano’s price outlook is now driving attention towards Remittix, which has now gotten a nod from two top centralized exchanges.
With rumors circulating about a potential meeting with Binance soon from Remittix, experts say this could be a game-changer for Remittix and a blow to Cardano. Here is all to know about this developing story.
Effect Of Competition On Cardano Price Growth
Cardano has been on the verge of a breakout for the last few months. But, while the Cardano price saw a few early gains, it has remained generally unsuccessful in making a sustained breakout.
However, analyses have identified the stronger buying momentum in top competitors, such as XRP and SOL, as a factor keeping Cardano in second place. This is because competitors have reached new highs, and others are drawing very close this year.
Whereas Cardano remains on a low range from its past ATH, reaching a high of $1.16 early this year. The Cardano high from the January bull market still leaves the price more than 60% from its old ATH.
Although traders are betting on a Cardano ETF approval to pump the price later this year, the approval date remains speculative. Additionally, the emergence of new competitors, particularly in the payment sector, poses new challenges for the future growth of the Cardano price.
Why Remittix Could Make A Binance Move Soon
All the pumps are open on Remittix lately, as it continues to scale new highs following its move beyond $23 million. The price has risen from less than $0.02 in the last few months to $0.10 today and promises to continue growing as demand remains high.
This has made the Remittix token the gem to keep an eye on in the last few weeks, as analysts and seasoned traders cite factors that could make it the next 100x altcoin. These factors include:
- Readiness to adapt to the changing crypto market with hybrid solutions
- Offering a sustainable alternative to local cross-border payment with low-fee crypto-to-fiat payment
- Securing investors’ trust with the top-of-the-market security audit that shows no flaws or vulnerabilities
The current positioning is already making it a threat to established names like XRP, ADA, XLM, and many others in the payment sector. With two major names, BitMart and LBank, already showing strong interest in a Remittix spot listing, the game has just become more interesting.
However, as the Remittix wallet prepares for launch within the next two weeks, a move closer to Binance could significantly disrupt the market for Cardano, Ripple, and other payment projects.
Experts are predicting a potential 50x surge this year after launch, but new updates could add more fuel to the growing buying momentum.
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Website: https://remittix.io/
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