The appeal that meme coins bring to the market is usually one met with a high amount of traction. As another meme coin frenzy lurks giving the outstanding Q3 performance, some investors are locking in early with unique meme coins with a promising future.
Subsequently, this new meme coin, Cutoshi (CUTO), is seeing a high amount of engagement in its ICO journey as investors are drawn to its interesting and decentralized ecosystem. As a matter of fact, huge Solana (SOL) and Ethereum (ETH) are steadily increasing their holdings in this new meme coin.
Cutoshi Gains High Presale Attention Due To Its Lucrative DeFi Ecosystem
Cutoshi (CUTO) is a unique meme-coin based DeFi platform integrated with a multi-chain decentralized exchange that allows users to seamlessly trade cryptocurrencies across different blockchain networks— a feature which is rarely seen in most meme coins. This allure is attracting huge interest from the DeFi market as Ethereum and Solana holders are reportedly buying in.
In the Cutoshi ecosystem, users can also engage in the token farming and liquidity mining that lets holders earn rewards, possibly by completing quests or similar activities. This adds a layer of utility beyond the typical impracticality of meme coin networks. This gives Cutoshi a chance to garner engagement from both the meme coin and DeFi market, increasing its potential to surpass the likes of Dogecoin.
A notable aspect of Cutoshi is its focus on Satoshi’s principles which are decentralization, privacy, and monetary freedom. To propagate the knowledge of DeFi further, Cutoshi plans to integrate a learning Academy in its ecosystem. Meanwhile, investors are also particularly drawn to this meme coin due to its cultural association with wealth, progress and good luck, embodied in its theme depicting the “Chinese Lucky Cat”.
Furthermore, Cutoshi employs a deflationary buyback mechanism which works to reduce the supply of its native token, $CUTO. This is poised to raise the token’s demand and price over time. Cutoshi is currently selling for $0.015 in the first stage of its presale, however the price is poised to increase dramatically..
Ethereum Price Crashes Further Signaling Instability
Even though the price of Ethereum (ETH) token priced above its weekly resistance of $2,625 earlier this week, fluctuating pressure has brought Ethereum (ETH) down to lower levels again, below $2,500.
While Ethereum token holders expect ETH price to rally above $3,000 this year, its current unstable momentum is raising doubts about its future outlook. As Ethereum price moves in a sideways motion between $2,450 and $2,718 in the past week, some ETH holders are starting to try new alternatives.
Solana Price Movement Endures Long Consolidation Amid Slight Surges
The price of Solana (SOL) was one of the most anticipated cryptocurrencies this year as the token rose by over 700% from lower levels of $23 to a peak price above $200. While the Solana token has reduced its yearly gains to 509%, it is still standing strong, despite strong fluctuating pressure.
Now pricing in a weekly range of $143 to $160, Solana token has dropped significantly, following several bearish developments this year. However, with a recent 13% jump in the past month, there’s a fair chance that Solana price will kick off again, potentially surpassing its peak price this year.
How Long Before Cutoshi Topples Over DeFi Giants Like Ethereum and Solana?
Ethereum and Solana are two renowned mega DeFi networks in the crypto space hence, it will take a lot for Cutoshi to surpass them. However, should Cutoshi maintain an impressive rate of adoption, it could contend with these DeFi market gains in less than a decade.
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