Cardano (ADA) and Tron (TRX) are established projects that are currently stable. Meanwhile, a new play-to-earn (P2E) meme coin project, Kangamoon, has captured investor attention.
Summary:
- ADA recently recovered above $0.25.
- TRX is bullish; the RSI reading is above 47.01
- Kangamoon’s no-tax model places the project ahead of emerging P2E games.
Cardano is building momentum
ADA is steadying, recovering, and trading above $0.25, adding 6%.
While Cardano is still down around 2% for the month, over 30% versus its July highs around $0.38 and over 45% since April’s yearly highs above $0.46, its latest rebound has propped its market cap.
Contraction in ADA prices is tied to dropping decentralized finance (defi) activity and concerns about how the United States Securities and Exchange Commission (SEC) has classified the token.
Tron prices bullish
TRX’s value has plummeted since its 1,000% rally in 2017/18 due to the fading hype after Justin Sun’s aggressive marketing contributed to early success.
Last week, TRX reached $0.0798 before dropping to $0.078138. Currently, the coin is trading above the 50-day EMA, 100-day EMA, and 200-day EMA moving averages.
Further, TRX’s RSI is at 47.01, suggesting strength.
Analysts are bullish, predicting TRX to reach $0.12 before the year-end.
Kangamoon adds utility to meme coins
Kangamoon aims to change the meme coin sphere by incorporating utility, cultivating a community of enthusiasts, and implementing play-to-earn (P2E) functionality.
This means players can earn virtual currency and rare in-game items by winning matches, participating in events, and completing quests in a virtual boxing world.
The project lets players trade and sell their in-game earnings for real cash in a marketplace.
In addition, Kangamoon will allow players to cash out their rewards without incurring any tax.
In the early stages of its presale, KANG, Kangamoon’s native token, is available for $0.005.
Details of Kangamoon (KANG) presale:
Website: https://Kangamoon.com/
Telegram: https://t.me/Kangamoonofficial
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Source: https://crypto.news/cardano-and-tron-bullish-kangamoon-bringing-utility-to-meme-coins/