Ahead of the United States presidential election scheduled for November 4th, crypto money is coming up in full force beyond people’s expectations. In a recent turn of events, Chris Larsen, the Ripples co-founder, has donated $10M to support the Vice President Kamala Harris campaign, a move that could reposition the XRP token, which has been struggling for months.
Meanwhile, Cutoshi‘s ongoing presale has continued to attract whales, raising over $550K so far. The project, which is on the mission to revolutionize the $63B DeFi industry, has witnessed positive predictions fueled by the robust ecosystem, which houses tools such as a multichain DEX that will solve major issues traders encounter in centralized exchanges.
Cutoshi Presale Expected To Surpass Blockdag Record
Cutoshi is a project developed on two ideologies—the traditional Chinese Lucky Cat and Satoshi Nakamoto’s teachings. Cutoshi is on a mission to bring the Lucky Cat to the blockchain. The overall objective is to bring luck, wealth, and prosperity to investors’ digital assets. Cutoshi is building a platform where users have decision-making powers and control over their assets.
Having faced security, privacy, and interoperability issues in CEX exchanges, the Cutoshi ecosystem is designed to solve these inherent problems. In the Cutoshi multi-chain DEX, users will be able to swap assets seamlessly without needing a third party. Users will also be able to join the Cutoshi Academy and get more exposure to DeFi teachings and crypto market trends, etc.
The recent listing on CoinMarketCap has proven its mission to increase the project’s visibility and adoption. At the ongoing presale, CUTO, the native token is sold for just $0.022. Given the limited total supply and the deflationary mechanism, there are high expectations that Cutoshi will follow a similar path to Blockdag, which has raised over $100M in presale.
Can The Recent Donation Rejuvenate The Struggling XRP Token?
There is growing optimism that the recent donation by Chris Larsen to the Kamala Harris campaign will trigger a resurgence for XRP, which has been struggling for months due to an ongoing case with the United States Securities and Exchange Commission (SEC). This comes a few days after Ripples chief legal officer Stuart Alderoty affirmed that the court’s ruling that XRP is not a security still stands.
Meanwhile, CoinMarketCap data shows that the XRP price has dropped by 5% in the past week as altcoin struggles to maintain the crucial $0.50 support zone. The drop comes at a time when Brad Garlinghouse, the CEO of Ripple, thinks that spot XRP ETF approval is inevitable, like those of Bitcoin and Ethereum.
The XRP trading volume, which was hovering around $2B sometime in September, has declined to $1B, with the market cap also taking a dip. The XRP token market sentiment is bearish, having recorded only 14 green days in the past month. However, crypto analyst Amonyx believes the XRP token explosion will begin unexpectedly.
Source: Amonyx on X
Why Investors Are Accumulating XRP And Cutoshi
With strong indications of the ongoing case closing before the end of the year, there are strong expectations of the XRP token resuming its bullish momentum, which might likely push the price to $1 in early 2025. Also, Cutoshi’s ongoing presale has witnessed high adoption by whales, which could boost the price in the coming months. Backed by a unique multi-chain DEX, Cutoshi could follow the paths of popular DEX like Uniswap soon.
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