Recently, Ethereum (ETH) witnessed an increase in the value of its native token, stapling itself above the $2,600 price mark. This has sparked discussions about the Ethereum network and how much attention and activity it has been receiving.
Top crypto investors have particularly been positioning themselves with meme coins on the Ethereum network, contributing to price positivity ETH is experiencing. This has brought more awareness to this fast rising presale star, Cutoshi (CUTO). Meanwhile, Bonk (BONK), a Solana meme coin, is already topping investors’ list of top coins to purchase.
Cutoshi Eyes Price Rally As Interest In Hybrid Ecosystem Grows
Taking a significant step towards diversity, Cutoshi (CUTO) stands as a meme coin backed platform integrated with DeFi features to allow users to earn actively and passively. This hybrid platform primarily consists of a fully decentralized exchange (DEX) protocol which facilitates the swapping of cryptocurrencies across several networks, with its native $CUTO token serving as the primary mode of exchange.
The Cutoshi’s ecosystem also features a staking protocol, and a farming mechanism, alongside a Learning Academy aimed at spreading DeFi knowledge to the masses. Notably, both Cutoshi staking and farming offers users extra layers of incentives, allowing them to earn extra tokens or even win complementary NFTs and merch when they participate in community quests and challenges.
These, combined with its tribute to the Chinese Lucky Cat has delivered over $600k in presale revenue, so far. Meanwhile, the native $CUTO token powering the entire ecosystem’s operations adopts a deflationary mechanism whereby its supply is reduced through burning, resulting in an increase in its demand and overall value. Now priced at $0.022 in its second presale stage, $CUTO token has delivered 46% ROI to early backers.
Ethereum Price Stabilizes Above $2,600, Maintains Positivity
The price of Ethereum (ETH) has been consolidating between $2,200 and $2,700 in the past few months; however, its price has recently stabilized above $2,600, showing positive momentum. Meanwhile, ETH price has previously stabilized above this mark about a week ago, but was hit with a noticeable decline as seen in the chart below. Regardless, investors are hopeful for a different outcome this time.
Part of the new positivity is fueled by growing interest in meme coin projects hosted on its network. Furthermore, with the news of Grayscale converting digital large cap funds into mixed crypto ETFs sparking the most recent increase in ETH price, there are speculations that adoption rate on its network would gradually cause a surge above $3,000.
In any case, the moving averages of Ethereum token on TradingView is also pointing to a strong buy signal, implying that there is a good amount of potential for Ethereum price to maintain a progressive trajectory to higher levels this year.
Bonk Price Loses Bullish Momentum But Holds Promise
In the past few months, Bonk (BONK) price has been consolidating, showing neither signs of a bullish or bearish trajectory. Despite this, the Solana-based meme coin is still holding a strong position on investors’ lists of top meme coin investments. Besides, the token year-to-date chart reflects over 3,300% price increase.
Meanwhile, as observed in the monthly chart above, the price of Bonk has declined by nearly 7% in the past 30 days as the token fell from the crucial $0.000025 price mark. While the price is currently lagging behind this mark, more engagement from its recent listing on UpBit is poised to drive a price hike again.
At the moment, BONK coin is still drawing investors’ interest as its technical analysis indicates that the token will imminently rise to higher levels in the near future. For now, Bonk price holds in a weekly price range of
Is Cutoshi Capable Of Outperforming Bonk This Year?
There is a high potential for Cutoshi to compete with Bonk (BONK) this year should it list on CEX and DEX platforms. However, if not this year, Cutoshi still has potential to arrive alongside Bonk by Q1 of 2025, owing to its vast MemeFi platform and DeFi attractions.
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