Cold Wallet Presale Hits $6.4M Amid Chainlink Rally and Story's Dip

The crypto market remains a study in contrasts, with diverging performances between projects offering insight into the sector’s resilience and volatility. While Chainlink (LINK) and Cold Wallet (CWT) are drawing attention for their upward momentum, Story (IP) is struggling after a co-founder’s departure created uncertainty and shaken investor confidence. Cold Wallet’s presale, now in Stage 17, has raised $6.4 million, with each token priced at $0.00998, as the project leverages a working referral system to drive adoption and reward participation [1].

Chainlink (LINK) has shown strong performance, rising nearly 2% to trade above $25. This has solidified its position as the 11th-largest cryptocurrency by market capitalization, surpassing HYPE. Recent developments, including the launch of the Chainlink Reserve and a partnership with ICE, the operator of the New York Stock Exchange, are seen as key drivers of this rally. Technical indicators also support a bullish outlook: the MACD shows alignment, and the RSI at 59 indicates room for further gains before entering overbought territory. Analysts suggest that continued momentum could push LINK past $30 and potentially reach $35, though traders are advised to monitor the $21 support level amid broader market volatility [1].

In contrast, Story (IP) is facing a challenging period following the exit of co-founder Jason Zhao after 3.5 years. While Zhao will remain an advisor, his departure has raised concerns, particularly given its timing, just weeks after the project’s token generation event (TGE). Social media has been flooded with criticism, with some users accusing Zhao of abandoning the project during a critical phase. This has directly impacted the token’s performance, which has fallen to around $5.66 from an intraday high of $6.04. If leadership and product roadmap confidence continue to erode, the token could face further downward pressure. Similar patterns have been observed in other projects, such as Shiba Inu, which dropped 10% after its lead developer left [1].

Cold Wallet is taking a different approach to attract and reward users. Its referral system is already live and provides direct USDT rewards for users who invite others. Once rewards reach 5 USDT, users can claim them, creating a transparent and effective incentive structure. The system is integrated into the presale process, where both referrers and referees receive CWT tokens—20% and 10%, respectively—as bonuses. These incentives come from a separate pool to avoid affecting the main token supply. This approach not only encourages growth but also aligns the interests of all participants. The project aims to address a key issue in the crypto space: adoption fatigue. High fees and complex onboarding processes often discourage new users, but Cold Wallet’s model offers a solution by rewarding participation and reducing entry barriers [1].

The broader implications of these developments highlight the market’s sensitivity to both leadership and utility. Chainlink’s success underscores the importance of strong partnerships and technical development, while Story’s struggles demonstrate how leadership changes can quickly erode confidence. In this environment, Cold Wallet is carving a unique path. Beyond the $6.4 million raised in its presale, the project is building tools that deliver immediate value to users. Its referral program is not just a marketing tactic—it is a strategic mechanism for fostering community growth and ensuring that participation is rewarded [1].

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[1] https://coinmarketcap.com/community/articles/68a77aee2eebb806684f8711/