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As Bitcoin’s price stabilizes above $100k, three altcoins, Cardano (ADA), Sui (SUI), and iDEGEN, are making waves with significant developments.

Cardano is on the verge of breaching key resistance levels after a strong breakout. Sui reaches new milestones with Phantom Wallet integration, while iDEGEN’s innovative presale model garners attention.

Cardano (ADA) has recently captured market attention by breaking out of a prolonged consolidation phase, currently trading at $1.22.

The token is targeting a critical resistance level of $1.40, which could pave the way for a rally to $3.00 if surpassed.

Technical indicators like the Stochastic RSI at 100 signal robust bullish momentum, albeit with caution due to overbought conditions that might lead to a short-term correction.

On-chain metrics further solidify Cardano’s bullish outlook. Over the past week, the network has seen a 53.95% increase in new addresses and a 42.13% rise in active addresses, signaling growing user adoption.

Zero-balance addresses have surged by 54.28%, reflecting an influx of new participants into the ecosystem.

Despite a slightly bearish long/short ratio of 0.92, the possibility of a short squeeze remains as bullish sentiment grows.

Cardano’s ecosystem development continues to impress, with the Hydra protocol recently achieving over one million transactions per second (TPS).

Charles Hoskinson, Cardano’s founder, envisions an even greater impact.

At the Cardano Constitutional Convention in Nairobi, he emphasized the blockchain’s potential as a foundational global infrastructure.

He highlighted its ability to streamline governance and foster collaboration across blockchain networks, positioning Cardano as a transformative force in global systems.

Sui (SUI) has maintained its upward trajectory since August, recently achieving an all-time high of $4.40.

The blockchain’s total value locked (TVL) has soared to $1.72 billion, making it the eighth-largest network by TVL and surpassing notable blockchains like Avalanche and Polygon.

One of Sui’s most significant developments is its integration with Phantom Wallet, marking the wallet’s first expansion beyond Solana, Bitcoin, and Ethereum.

Phantom Wallet’s user-friendly interface and robust features, combined with Sui’s scalability and Move programming language, create a powerful synergy. This integration is expected to drive further adoption and enhance Sui’s ecosystem.

On the technical front, SUI’s trading range between $3.1 and $3.94, with $3.52 as a critical midpoint, indicates a bullish market structure.

Key support levels at $3.2 and $3.5 provide entry points for traders eyeing the next upward move.

Indicators like the Relative Strength Index (RSI) at 60 and steady growth in On-Balance Volume (OBV) underscore strong buying interest, despite minor consolidation.

Strategic partnership with Franklin Templeton as well as innovations like BTC staking through liquid tokens, further strengthen Sui’s position.

The blockchain’s resilience during recent technical challenges, including a brief halt in block production, has instilled confidence among investors and reinforced its upward trajectory.

iDEGEN, a new AI-powered meme token, is making waves with its innovative approach to community engagement and presale dynamics.

Launched on November 26, 2024, iDEGEN’s presale has already raised over $2.5 million, with 434 million tokens sold.

The presale is set to conclude on January 1, 2025, offering investors a unique opportunity to get involved before the token hits major exchanges.

What sets iDEGEN apart is its dynamic pricing model. The token price adjusts every five minutes based on market activity.

Consecutive purchases increase the price by 5%, while inactivity triggers a 5% price decrease.

This mechanism creates a fast-paced, engaging environment that appeals to traders and enthusiasts seeking volatility.

iDEGEN’s use of artificial intelligence (AI) further distinguishes it from traditional meme coins.

The AI adapts and evolves based on community feedback, analyzing interactions on X. This allows the community to shape the project’s trajectory, fostering a deeper connection between the developers and their audience.

The token’s presale success and expected listing price, projected to be 10% higher than the final presale price, underscore its growing popularity.

As iDEGEN combines AI-driven innovation with the excitement of meme culture, it could emerge as a standout project in the cryptocurrency space.

The post Cardano targets $1.4 after breakout; iDEGEN nets $2.5M as Phantom Wallet integrates Sui appeared first on Invezz

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