Ethereum and Solana have experienced significant price fluctuations over the last quarter. While both are in the red, market sentiment could send them soaring before the end of the year. As they start to recover, Cutoshi, an innovative new DeFi ecosystem, is expected to take the market by storm. Here’s why experts are bullish about its growth.
Crypto Whales Back Off From Ethereum
Ethereum ETFs were expected to send ETH soaring earlier this year. However, they’ve had the opposite effect. ETF demand was lower than expected, and high fees took Ethereum’s price as low as $2171 over the last month.
This poor price performance has caused many whale investors to sell their holdings. Data from CryptoQuant shows that Ethereum wallets with over 100,000 ETH have seen significantly less activity since August.
According to experts, this suggests that Ethereum’s dominance is decreasing, which could cause Ethereum’s price to see further declines. Ethereum is currently trading at $2,433.94 and has increased by 3.7% over the past week.
Solana Passes 75 Million Active Addresses
Solana hit a huge milestone over the past week, signifying its ecosystem success. The project hit 75 million active addresses, which marks a new all-time high. This milestone is attributed to a growth in Solana NFTs, dApps, and DeFi projects, with the number of monthly active Solana addresses almost doubling from 2023 to 2024.
However, Solana has continued to meet resistance at $150 in Q3. Solana is currently trading at $140 following a 4% weekly surge. Despite this growth, Solana is down 4% over the last month, which has created a sense of frustration throughout the Solana ecosystem.
Cutoshi Brings Luck Back to DeFi
Cutoshi is a lucrative new DeFi ecosystem that draws inspiration from the Chinese Lucky Cat. The project looks to bring good fortune and wealth to investors while teaching them the fundamentals of DeFi.
Cutoshi embodies the values of decentralization and, as a result, has a key focus on privacy. Its decentralized exchange lets investors swap assets across chains, simplifying the transaction process while saving investors time and money with low fees.
In addition to its exchange, Cutoshi also offers income opportunities through its farming mechanism. Through this mechanism, investors will be able to complete quests, collect points and claim monetary rewards to optimize their income.
Cutoshi offers a lucrative academy for new investors. The academy will help to narrow the knowledge gap in crypto, teaching investors the foundations they need to build profitable portfolios.
All of this will be accompanied by Cutoshi NFTs and merchandise. This will help to spread awareness of Cutoshi while building a lucrative ecosystem and dedicated user base.
During its presale, Cutoshi will sell 55% of its 44 million $CUTO token supply. The remaining tokens will be spread across farming, marketing, team tokens, and listing, in addition to a burn event. During this event, 7% of the $CUTO token supply will be removed from circulation, reducing the total supply to increase scarcity. This increase in scarcity will drive up token value even further, offering huge financial rewards for early adopters.
Cutoshi is currently in the first stage of its presale, with $CUTO token selling for just $0.015 per token. According to experts, Cutoshi could be the next 100x utility coin in the market, and its upcoming performance could make it one of the biggest presales of 2024. With hundreds of investors joining the project daily, now could be the perfect time to get involved before $CUTO outperforms major meme coins like Dogecoin and Shiba Inu!
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