Cardano price target set at $1.20, Remittix attracting attention from ADA whales

Cardano appears to be targeting $1.20, but a growing number of significant investors are diverting their attention to another emerging contender, Remittix. Remittix (RTX) is making waves in the PayFi sector with its practical applications and strong foundational qualities.

While Cardano’s price struggles, falling to $0.7909 after testing resistance at $0.90, its momentum seems to be waning. The volume has significantly decreased to $1.83 billion, indicating a cautious approach from traders. Technical indicators like the RSI and MACD suggest a potential bearish turn, and ADA derivative trading activity has also dropped, signaling a decrease in both long and short positions. However, there is still hope for Cardano if it can maintain the $0.70–$0.73 support zone.

Interestingly, whale wallets that were previously active in Cardano are now reportedly turning their focus to Remittix. This shift towards RTX, a cryptocurrency that offers tangible utility in the PayFi space, could hinder ADA’s upward movement as it aims for $1.20.

In contrast to Cardano’s sideways movement, Remittix is gaining attention from investors. RTX facilitates real-world crypto payments with seamless transactions between crypto wallets and bank accounts, promising quick conversions and transfers in less than 24 hours. This practical approach to payments is attracting users like freelancers, remote workers, and businesses that seek efficient cross-border payment solutions.

While Cardano struggles to break out, Remittix has showcased impressive capabilities such as processing over 520 million tokens in transactions, raising $17 million with consistent growth, maintaining low gas fees for 40+ crypto pairs, and announcing beta testing for the Remittix Wallet. As ADA whales monitor Remittix’s progress, it’s evident that they are reallocating their investments into projects that provide immediate benefits rather than mere potential.

If Remittix continues to deliver on its promises, it might surpass ADA in terms of adoption and utility, potentially achieving the $1.20 target before Cardano does. The growing interest in Remittix among crypto investors underscores the importance of practical applications and real-world utility in the digital asset space. It’s a signal that investors are looking for tangible benefits and solutions beyond speculative gains.