With Bitcoin crossing $70,000, Ethereum (ETH) appears ready to follow suit as bullish signals appear on the chart. However, many Ethereum holders are diversifying into other niches of the crypto market as the meme coin market prepares for a major comeback.
As the market rebounds Bonk (BONK) is seeing consistent gains, but there’s a newcomer that could become one of the best plays of the cycle with its unique premise, Cutoshi.
What’s Next For Ethereum?
Ethereum (ETH) has struggled significantly for most of 2024, but there’s a light at the end of the tunnel. Throughout October, Ethereum reclaimed several key levels as it soared above $2,700. After a pullback, Ethereum now sells for $2,630 with a 4.1% intraday increase. A 61% surge in volume puts Ethereum at $21.3 billion traded in the last 24 hours.
The rising odds of a Trump victory in the US presidential elections are positively impacting Ethereum and the overall market as the former president has been vocal about his support of crypto. In addition to this, the Ethereum chart has been forming a bullish, multi-year ascending triangle pattern. Once this pattern is completed, a new ATH for Ethereum could be on the cards as the cycle progresses.
Bonk Is Ready For A Breakout
Bonk (BONK) has experienced significant turbulence over the past few months but it seems to have shifted gears as the lows are getting higher. When zooming out on the chart, Bonk’s price structure appears intact despite the recent slump, and on the macro level, the ascending trendline remains unbroken. At press time, Bonk is priced at $0.000021 with a 4.2% daily increase.
This surge in the Bonk price comes after a listing on Upbit, South Korea’s largest exchange. Moreover, in the last month, Bonk made news as it partnered with Osprey Funds to launch the first BONK ETP (exchange-traded product), allowing institutional investors to easily and securely gain Bonk exposure.
Cutoshi Continues To Rise
Cutoshi brings together meme energy and cutting edge DeFi tech, backing its cuteness with real utility. The project pays tribute to the Lucky Cat of Chinese folklore which is said to bring good fortune to businesses and households. Cutoshi digitizes this good fortune and brings it to its rapidly growing community in the form of lucrative rewards and prizes.
CUTO Dex is Cutoshi’s flagship feature. This cross-chain exchange allows for near instantaneous swaps across a multitude of blockchains with fees of just 0.25%.
Cutoshi encourages engagement with various quests and tasks aimed at boosting Cutoshi’s online presence. Users will be able to track their performance on a leaderboard, which further gamifies the experience.
For their loyalty, they will receive Cutopoints which can then be redeemed for the native $CUTO token. In addition to this, they can also stake $CUTO and earn passive income, while regular burns ensure a sustained price increase.
Stage 2 of the $CUTO presale is nearly sold out and demand is rising fast. Tokens are selling for just $0.022, but the price won’t stay this low for much longer, as a series of surges are expected for the duration of the presale. With the resurgence of meme coins and Ethereum’s comeback, Cutoshi is set to hit the markets at the best possible time
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