Cardano (ADA), popular for its sustainable design and long-term vision, has consistently topped the list of ‘most-traded’ cryptos in recent weeks. However, recent macroeconomic developments and developments saw ADA’s price and average daily volume slipping.
Currently, ADA’s hovering above $0.5641,-6.2% from the previous week and -26.5% on a month-over-month performance. The crypto’s in a bearish channel, tracking lower highs and lows. By failing to sustain its recent bounce and a confirmation of a short-term bearish bias, many holders and investors are looking at another DeFi powerhouse that is poised for a possible 20x gains in Q3: Remittix.
Remittix Pushing the DeFi Boundaries, Promising Better Cross-Border Payments
Remittix is the latest crypto project that’s disrupting the DeFi conversations. Although it’s not a classic DeFi project, it’s promised PayFi service is causing ripples in global finance and among the unbanked. Built on the Ethereum blockchain, Remittix promises crypto-to-fiat transactions that aren’t just fast, they’re low-cost, with zero FX fees and no hidden charges.
Remittix’s Pay API is easy to use and works for both business owners and individual users. By connecting a wallet, a user can now convert and deposit cryptos into global accounts and settle in 100 fiat currencies. It’s a smart-contract based, operating on the Ethereum chain, allowing business to accept crypto and settling it in fiat currencies blurring the lines between traditional finance and DeFi infrastructure.
As a blockchain-based smart contract, users can also rely on transparent and secure transactions. According to the latest Blocksafu audit, Remittix’s smart contract is rated ‘Very Safe’.
ADA Price Now in Bearish Territory, Needs to Reclaim $0.60 Zone
ADA’s price is entering a bearish territory after its recent bounce at the $0.548 to $0.568 failed to gain traction. The crypto’s price has been in the red for days, and a few momentum indicators such as the Awesome Oscillator turning negative, reflecting a selling pressure and slowing bullish momentum. Trading volume has remained way below $1 billion for nearly a month, suggesting reduced traders’ interest.
Also, Cardano’s weekly chart has dipped by more than 60% from a $1.327 peak and now trades near its key Fibonacci zone, ranging from $0.50 to 0.52. If ADA’s price breaches this support, then holders and investors can expect more losses. Furthermore, on-chain data and activities aren’t looking good for Cardano; there’s low DEX volume, diminishing number of active addresses and it’s now trading below key EMAs.
Is the RTX Token a Better Option for Traders Looking for Value?
Although ADA’s price is slipping, its underlying tech smart contract, PoS and scaling remains appealing to long-term holders. As such, holding ADA in the short-term isn’t the wisest move for the experienced trader and investor. To restart its bullish run, ADA must break $0.60.
While the ADA price continues to struggle, the RTX token is heading towards another presale stage, targeting a new price. The Remittix team has already sold over 548 million tokens and have raised nearly $16 million, suggesting growing support and community.
Remittix is listed at $0.0811. Early adopters who bought early are looking at a bigger ROI and growing. Don’t miss the chance to buy the RTX token at a lower price connect your wallet now to order your crypto!
Get the latest insights on the Remittix presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
