In a move reminiscent of the last bull run, Solana is making new yearly highs. Can it overtake its previous ATH? Unlike most cryptos, Kaspa initially took a hit after the election results, dropping to $0.11 but has now rebounded to $0.15.
Presale project Cutoshi outperforms both Solana and Kaspa this week, up by 88% as it enters the next stage of its presale.
Solana Breaks Out – Is A New All-Time High In Sight?
Every day is a good one for SOL holders right now, as the coin continues to smash through resistance levels and is currently trading well above the $200 mark for the first time in seven months. Solana is currently trading at $218 per coin, making it the fourth biggest crypto.
This is most likely due to the pro-crypto US election results, since under the Democrats, the SEC declared Solana a security, and applications for a SOL spot ETF were denied.
The SEC, who even went as far as naming SOL in a lawsuit against Coinbase, will now be replaced by more crypto-friendly members, much to the joy of the crypto community.
This paves the way for Solana ETFs and institutional-level inflows into the Layer 1 blockchain.
According to technical analysis, the next price target is $230. It’s possible that SOL may face some headwinds as long-term holders unstake and cash in, but the future looks bright for Solana.
That said, for those who value the ethics of decentralization, Solana may not be the chain of choice, especially as it recently came under scrutiny for its VC focus by whistleblower Edward Snowden.
Kaspa’s Path To $0.20 And Tier-1 Exchange Listings
While other cryptos have been mooning since the election, Kaspa saw a downturn. And this followed previous downturns in November.
The Kaspa blockchain uses GhostDAG technology to make it speedy and efficient and allow smaller miners to get involved.
According to speculation on Reddit, Kaspa’s October dip may have been due to its links with Israel, although some commenters pointed to the lack of a listing on a Tier 1 exchange as the reason for the recent price action.
It seems the poster may have been on to something with the Isreal theory, given that KAS has shot back up again, alongside the news that Trump is calling for peace in the Middle East. Then again, he has also shown his support for Israeli Prime Minister Netanyahu, and the conflict shows no signs of de-escalation currently.
Kaspa is already listed on Kucoin and Bybit, but many are expecting the coin to be listed on Coinbase or Binance, making it much easier for US investors to buy.
Analyst Tkala (@tkalakaspa) suggested that tier 1 exchanges are likely to be acquiring Kaspa by OTC trading so as not to affect the price in advance of listings, explaining the sluggish price action.
Kaspa is now trading at $0.15, with $0.20 as the next price target. Kaspa is up by 89,432% from its all-time low 2 years ago.
Community Engagement And Quests Complement Cutoshi’s Success
Cutoshi is yet another project that is on the rise, up 88% in the last week.
Following the Trump win, is likely to have contributed to the quick selling out of stage 2, and may also mean that stage 3 follows a similar trajectory.
Another bullish factor is the recent launch of quests and farming for Cutoshi, with over 1500 participants in just a few days.
This shows that Cutoshi aims to bring more people into DeFi via the meme economy is successfully engaging a community of passionate holders and evangelists, meaning that the coin is likely to keep making fast progress through its presale.
Since Cutoshi is new, this could be a similar opportunity to those who were able to mine Kaspa from their computers, before the coin launched on the open market.
For more information on the Cutoshi (CUTO) Presale:
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