Legacy coins keep marching on. They’re taking full advantage of Bitcoin breaking the recent historical $100k barrier. We also see DeFi coming on strong. DeFi protocols are gaining some serious traction. I will get back to DeFi in a moment. In my recent video, I already discussed some of these legacy coins. Check this link.
However, today, I want to look at two legacy coins that performed above expectations.
Cardano ($ADA)
Cardano was for long periods of time a laughingstock for part of the crypto community. As these pictures on X show.
The obvious question right now is, who’s laughing now? $ADA is up by a whopping 235% over the last 30 days. Its CEO, Charles Hoskinson, is also in the driver’s seat for an advisory role in Trump’s new government.
UPDATE: Video of Cardano founder Charles Hoskinson @IOHK_Charles regarding the Trump Administration’s crypto team.
“It’s very clear that I am going to be involved in some capacity”
Charles, founder of the $ADA cryptocurrency is one of the most well known minds in the crypto… https://t.co/cS8LQK3kWS pic.twitter.com/k5xv2Xpqfs
— Shawn (@oroogle) November 15, 2024
Things are getting better. Trump says that he wants to cut all capital gains taxes on crypto issued by U.S. companies. This makes Americans holding crypto assets such as $ADA, $ALGO, $XRP or $HBAR fully tax-free. These are all US-based projects. Hoskinson, in an advisory role, should be in support of such ideas.
Trump and his administration want to make America the crypto capital of the world. News of Hoskinson being part of this, is one of the reasons why $ADA took off.
President Donald Trump says he will make “America the world capital for crypto and #Bitcoin.”
You are not bullish enough. pic.twitter.com/1vNFUU19zU
— Vivek
(@Vivek4real_) November 17, 2024
Here are more reasons for $ADA to keep going up.
- Potentially to be used for new U.S. voting system
- Becoming native DeFi layer for Bitcoin
- Notable whale accumulation
- Big $ADA ETF rumors
- TVL breaks new ATH
- SpaceX speculation
With this news, the Cardano ecosystem also sees an ocean of green charts. Over the last 7 days, many projects are up in double digits. You can buy $ADA and plenty of its ecosystem tokens on either CoinEx or BYDFI.
Curve ($CRV) and the DeFi Sector
The next sector that is making its way back into the spotlight is DeFi. We saw a healthy increase in its market cap between October 2023 and March 2024. However, now I can see a new leg up forming since early November.
Part of this pump is the shift from DeFi 2.0 to DeFi 3.0. In a nutshell, DeFi 3.0 is more user-friendly, and it offers new yield earning options. For instance, liquid staking and also offering added value like card payment options. In other words, it introduces real-world utility.
One of the current stars who’s profiting from this is Curve ($CRV). Curve ($CRV) saw an amazing 350% increase over the last 30 days. This includes a 122% run over the last 7 days. With this, it outperforms most other DEXes by a 3x to 4x with this number. Curve is currently available on 19 chains.
Vibes of DeFi summer? https://t.co/hAEw4S7wuV
— Curve Finance (@CurveFinance) December 6, 2024
This is quite a remarkable comeback by Curve. In July 2023, Curve fell victim to hackers and lost around $62million in its liquidity pools. Dealing with that and coming back so strongly deserves respect.
This comeback may have started around early September. A whale bought for $4.7 million worth of $CRV on Binance and withdrew $3.5 million of it. He deposited this into Convex, the governance token.
This showed a renewed trust in Curve. Shortly after this, Curve’s current run started. With it, the whole DeFi sector is growing.
From the newer projects, it’s worth mentioning how $SUI and its ecosystem stays on fire. Everything looks up by double digits. Especially, some of its memecoins are hitting triple digits. $SUI itself also broke the $4 barrier and has a new ATH of $4.40. Besides on CoinEx and BYDFI, you can also buy both these tokens on MEXC.
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This articles is written by : Fady Askharoun Samy Askharoun
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