Bears tighten grip on Stellar and Cosmos, while Uniswap challenger Castula Network aims for top DeFi exchange

Amidst the uncertainty surrounding the performance of Stellar (XLM) and Cosmos (ATOM), Castula Network (CNK) is innovating a fresh project into the DeFi market. The top crypto tokens have endured a quiet start to April, slipping significantly as the bearish sentiments gather momentum. However, Castula Network is making DeFi trading easier, eliminating third-party intervention and allowing investors to have control over their assets. Let’s have a look at the project and see why it could challenge existing decentralized exchanges.

Castula Network (CNK) set to challenge Uniswap in DeFi trading 

While Stellar and Cosmos are currently down, Castula Network is set to challenge Uniswap’s dominance as a top DeFi token. Where exchanges like Uniswap are prone to fraud, high gas fees, and high-stakes registration, Castula Network adopts a non-custodial exchange method, allowing users to have a complete say over their assets.

With Castula Network, there will be no rigorous KYC registration and wallet connection on the platform. Users simply have to input their wallet address, indicate the type of trading they want, and deposit their assets as appropriate. The platform has different ecosystems, including a multi-chain decentralized exchange, a modern crypto wallet, and a portfolio tracker, all of which combine to give users an adventurous trading experience.

At the first stage of presale, investors can purchase the CNK token, which powers the platform at just $0.1. With a limited total supply of 100M, a small investment in this DeFi token could bring huge profits in the coming months. Analysts believe that the problem Castula Network is solving could see it have more adoption, which could raise its price by 50x in the coming months.

Stellar (XLM) dips as bears tighten grip

Investors are wary about the long-term prospect of Stellar (XLM) as the token begins to fall significantly. Stellar token has dipped by 24% on the monthly chart, creating a period of uncertainty among investors. Although Stellar bulls had the upper hand in February, the bears are beginning to prevail in April.

However, the bulls are also not relenting. They are moving aggressively to break the sideway range, which may push the price further up. As such, analysts opined that if Stellar’s price climbs above the $0.15 resistance level, the token could be on its way to $0.5 before the end of the month.

Cosmos (ATOM) declines amidst bearish pullback

After a good show in early February, which saw Cosmos (ATOM) rise to $13, the token is beginning to dip as bear pressure continues. Cosmos has dipped by 33% in the past month and a further 17% in the weekly chart. The dip has spread to the market cap which has reduced by 14% to stand at $3.5B.

A look at the Cosmos trading chart indicates that the token is trading above the 200-day Exponential Moving Average (EMA). Despite the bearish pullback, the technical indicators suggest an upward trend, which means the token may soon spark. If this happens, Cosmos’ token may trade at $20 in 2024.

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Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

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