Bets on Cardano’s ETF approval by the SEC have surged 55% on the backdrop of the much anticipated Glacier airdrop that will lock out VCs in an unrestricted token distribution to over 37 million wallets.
While announcing the Midnight rollout and Glacier Airdrop, Cardano’s founder Charles Hoskinson said the airdrop would be distributed across eight blockchains, adding that he would spend his own money to build the retail-focused project. The hype around the airdrop and ADA’s upcoming ETF approval has seen analysts anticipate a price rally for Cardano to $2.
Meanwhile, a fast-rising altcoin is shaking up the cross-border payment space. Remittix is gearing up to lead the charge in the remittance market now that its presale has raised over $15.3 million.
Cardano’s uptick past $1 is confirmed with ADA’s open interest surging
Cardano is on the verge of a bullish resurgence, with reports showing an uptick in Google searches for ADA. Whale accumulation is also rising steadily, with Cardano’s centralized exchange outflows surpassing $ 932 million.
This is a historic move that mirrors ADA’s 2021 price movement right before its rally to $3.10.
Image Source: CoinMarketCap
Bullish traders and analysts are targeting $1 as the next breakout zone should Cardano’s upward momentum persist. After a devastating downturn of over 60% from its peak price late last year, ADA managed to set up a healthy rebound of 13% in May, adding to a year-to-date uptick of 65%.
Image Source: CoinGecko
Cardano’s price is not yet out of the woods, given the $0.9 resistance zone that has seen ADA retest its $0.71 support.
However, Cardano’s renewed bullish strength is stirring hope among ADA holders who anticipate an explosive breakout for ADA past the $1 psychological barrier. Also, Cardano’s RSI below 70 shows there is clear room for a bullish breakout before ADA reaches overbought regions.
Analysts are optimistic that if ADA confirms a breakout past $0.90, the next target would be a price in the $1.02 to $1.15 range.
Remittix’s (RTX) outpaces most altcoins with its real-world utility
Cardano’s uptick could see it surge past its previous ATH, but this emerging altcoin in the cross-border payment space is giving the likes of XRP a run for their money. Remittix’s RTX is the new kid on the PayFi block with a presale that has gained traction, raising over $15.2 million from investors.
The global remittance market is growing fast, and legacy networks such as Cardano are working around the clock to ensure near-instant transactions on their networks. The good news is that Remittix is ahead of the competition thanks to its intuitive and affordable PayFi protocol. Remittix simplifies crypto-to-fiat transactions so that a crypto holder can send funds to a recipient’s bank account at negligible fees.
Remittix’s PayFi platform is ripe for mass adoption as most of the complexities of the crypto wallet are obscured from the entire process.
With a presale that has sold over 530 million RTX tokens, now is the best time to jump in while RTX is changing hands at $0.0781.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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Maisie is an experienced Crypto & Financial news journalist, having written for Moneycheck.com, Blockonomi.com, Computing.net and is Editor in Chief at Blockfresh.com
