For years, the crypto space has faced legal battles across the ecosystem. Ripple (XRP) has had a tough run with the US SEC but recently secured a partial victory, which sent XRP prices through the roof. Using the momentum of Ripple’s victory, analysts have predicted a similar bullish price movement for Tron (TRX) and Cutoshi (CUTO). Cutoshi, especially with its hybrid approach to meme coin and defi.
Ripple (XRP) Political Donations Draw Attention
Ripple (XRP) has been facing a period of stagnation for months, but in July 2024, according to the Ripple XRP price analysis below, it managed to rally up 63% and enter a long-term range from a year’s low. This XRP price rally was caused by Ripple’s partial victory against the SEC in court. Although this was a huge win for the crypto space, the long stagnation damaged Ripple as it had low trading volumes and lost investors’ interest.
In its recovery push, Ripple introduced RLUSD, a new dollar-pegged stablecoin that might draw institutional money back to the platform. This development could help drive XRP’s price past the dollar threshold once again.
Ripple (XRP) founder Chris Larsen also announced a $10 million donation to Kamala Harris’s presidential campaign. However, most of the crypto community does not favor this move, pointing out that legal attacks against crypto were conducted under her and Biden’s administrations.
Source: Tradingview
Tron (TRX) Experienced A Bullish Quarter According To Messari Report
Messari published its quarterly report on the state of Tron in Q3 last week. The report noted that Tron (TRX) realized considerable revenue growth, reaching a high of $151.2 million in Q3, an increase of 29%.
According to the report, Tron (TRX) gained most of its revenue from the interest of meme coins on the blockchain. Through the launch of Sunpump in August, Tron (TRX) generated massive revenue from meme coin degening. So far, more than 90,000 tokens have been created.
Sunpump activities specifically increased between Aug. 16 and 31, and about $42 million worth of TRX was burned. This represents 27% of Tron’s revenue in Q3. The activity in Sunpump caused DeFi transactions to increase nearly 500% from the last quarter.
Source: Dune
Cutoshi’s Hybrid Nature Of Meme Coin Frenzy And Defi Utility Pulls Major Investors
Cutoshi offers a significant shift in how we will see meme coins in the coming bull cycle.
Cutoshi is a meme coin plus defi utility project inspired by the Chinese lucky cat and Satoshi Nakamoto’s vision to create a truly decentralized ecosystem. Unlike every traditional meme coin, Cutoshi aims to capture major markets from the meme coin space worth over $55B and the defi market worth over $88B.
Using this approach, Cutoshi’s chief product is its custom cross-chain decentralized exchange (DEX). Cutoshi’s DEX will allow users to buy, sell, and move their cryptocurrencies across multiple blockchains with relative ease and a minimal fee of 0.25%. This is aimed at increasing community participation in defi.
Cutoshi is developing a farming protocol that will allow its users to participate in contests, stake their assets, lend their NFTs, and earn passive income.
Cutoshi is currently in the second phase of its presale, selling at $0.022. Astonishingly, it has raised over $570k in investments and will soon hit the $1 million investment target. Investors who invested at the first presale stage are already up 46%.
Will Cutoshi (CUTO) And Tron (TRX) Surpass Ripple (XRP)
In light of recent legal and political controversies against Ripple (XRP), analysts predict that Tron (TRX) and Cutoshi (CUTO) may surpass Ripple (XRP) due to their growing popularity and affluence with the meme coin space.
For more information on the Cutoshi (CUTO) Presale:
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