Cardano is seeing a loss of steam with selling momentum building in the crypto markets, causing ADA to face challenges in maintaining crucial support levels. A steep correction triggered by macro-market uncertainty and a chaotic token listing in the Cardano network has impacted sentiment in the short term.
While ADA is down, the markets on Crypto Twitter have witnessed debate shifting to more viable entry points despite current levels. This shift of focus has brought Mutuum Finance (MUTM) into the debate as a DeFi crypto that costs $0.035 in its presale phase among people who are debating what crypto to buy or what is the best crypto to invest in.
Cardano Price Weakness Deepens
Currently, the Cardano price is falling after a drop of 10% caused the ADA token to break below the $0.45 support level, testing the $0.42 support area. Weakness in the markets caused by a recent Fed rate cut and some Cardano news triggered this fall. Cardano’s Midnight Network token NIGHT became volatile as it lost around 80% of its value through an airdrop.
This event caused traders to be more cautious with any form of speculation related to the network. Technical analysis indicators have also maintained the conservative outlook with RSI levels closer to 40 while MACD analysis show declining trends. If ADA does not get back to $0.45, it would take months for a possible recovery. This development has inspired traders to evaluate what crypto to buy today for quicker gains.
Mutuum Finance Presale
Mutuum Finance is gaining momentum as the spotlight is shifting from major cap mergers to new DeFi investment opportunities. Currently, the amount raised in the presale is $19,500,000, while total MUTM holders since the start of the presale is 18,500. Currently, phase 6 is 98% subscribed with limited slots left before cutoffs end. Additionally, the current value for phase 6 is $0.035, indicating a 250% or 3.5 times increase from phase 1 of $0.01.
Phase 6 is selling out quickly, and the opportunity to scoop tokens at this tier is running out fast. When Phase 7 opens, the price is set to increase by almost 20%, jumping to $0.04. The initial launch price for the MUTM has been established at $0.06, placing current investors on course for a potential 390% return on investment after the launch.
Mutuum Finance Buy And Distribute Model
More about Mutuum Finance:Mutuum Finance is presently defining a revenue-linked framework that aims to link the use of the protocol with the demand for tokens. Their buy and distribute scheme allows a certain amount of fees from the protocol to purchase MUTM tokens on the open market. These tokens are then doled out to mtToken token holders.
This allows the development of the ecosystem to be directly linked to the circulation of the tokens, as opposed to being dependent on speculative demands. The mechanics seem to have appealed to traders who were looking for a new crypto that incorporates the yield mechanics into its core design, which further cements the position of MUTM as one of the best cryptos to invest in.
Engaging with the community is also encouraged by a live dashboard that features a leaderboard of the top 50 holders. A rotating leaderboard that resets daily at 00:00 UTC runs for 24 hours, during which the leader gets a $500 MUTM bonus once they finish at least one trade.
Mutuum Finance Security Progress
Mutuum Finance is still moving forward with its development roadmap, with special emphasis on security. An independent audit is still underway, as Halborn Security is currently reviewing the finalized lending and borrowing contracts through formal analysis. Such measures continue to provide confidence for traders on what crypto to buy now despite the hesitation in the markets.
While the momentum in Cardano is slowing down, with recovery times lengthening, traders look for more affordable entry options with clear catalysts for growth. Mutuum Finance is one of the platforms that is standing out in the search for the best cryptocurrency to purchase with Phase 6 drawing to a close.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://mutuum.com/
Linktree: https://linktr.ee/mutuumfinance
Source: https://www.cryptopolitan.com/cardano-ada-momentum-fades-while-this-new-crypto-becomes-the-talk-of-crypto-twitter/
