After its long slumber, Cardano (ADA) has risen. The altcoin shot up to a two-year high last week, and its holders believe it could end up replicating its form from 2017. Investors who missed the ADA bandwagon are investing in other altcoins primed for massive gains, with Solana and Yeti Ouro (YETIO) emerging as two of the most popular alternatives.
Cardano Is Back
For years, Cardano was seen as an “old coin” whose best days on the price charts were behind it. Many analysts dismissed ADA, alongside other coins developed before 2020, including Stellar’s XLM and Ripple’s XRP. However, this bull market has revived all three and they are among the biggest gainers in November. ADA and XRP have already hit the $1 mark, which had eluded them for years, and XLM is positioned to hit this level before the year ends.
Cardano has gained 170% in the past week, hitting a weekly high of $1.1312. This rise has been supported by a surge in its key metrics. Trading volume has been hitting $3.5 billion daily since November 5th, up from barely hitting $300 million last week. Beyond the trading, Cardano users have also been revitalized. Weekly active addresses have crossed past 350,000 for the first time in 18 months.
Did You Miss Cardano? Here Are The Two Best Alternative Picks
Many investors missed out on Cardano’s rise, dismissing it as an old coin that was unlikely to record major price movements. However, the crypto market still offers some lucrative opportunities, and Solana and Yeti Ouro have emerged as the next two best picks for investors.
Solana set a new all-time high last week, just above $263, but the token still has heights to scale. SOL’s rise is built upon solid growth in all the metrics that matter within the Solana ecosystem.
First is activity on the network’s decentralized exchanges, which has hit $115 billion month-to-date. This is the highest volume ever recorded by Solana DEXes and is more than twice that recorded by Ethereum DEXes.
Investors seeking better gains are turning to Yeti Ouro, a new utility meme coin built around Yeti Go, a play-to-earn racing game that offers both thrills and rewards to the players.
In its ongoing presale, Yeti Ouro has raised over $536,000 from investors, selling over 44 million tokens. Investors are rushing to purchase the tokens when they are still priced at the low price of $0.012 before the project explodes and becomes the next staple in the meme coin sector. A recent behind-the-scenes video released by the Yeti Ouro team has also reignited interest in the project.
Memecoins lack staying power in the crypto sector as most are built around hype and flashy marketing. Yeti Ouro is breaking away from this unsustainable model to focus on utility. Its YETIO token powers the Yeti Go P2E ecosystem. Players pay the race entry fees and receive the reward—if they win the race—in YETIO. They also use the token to purchase weapons, upgrade their skins and buy unique customizations. They can also stake the tokens to unlock unique rewards. With supply capped at one billion tokens and 5% allocated to the token-burning mechanism, Yeti Ouro is successfully navigating away from the pitfalls that have held back dozens of meme coin projects.
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