Despite the underwhelming price action of the last few months, Ethereum (ETH) is seeing rising investor interest. This could be a sign of what’s to come for Ethereum as the chart is flashing breakout signals.
Meanwhile, Ethereum-based projects are also expected to soar, especially newer protocols with untapped potential. One such project is the utility-driven meme coin Cutoshi, already making waves with the viral presale of its native token $CUTO.
Ethereum Is Still Range Bound, But This Could Change Soon
Despite being the second largest cryptocurrency with a staggering $310 billion in market cap, Ethereum (ETH) has fallen a bit behind in terms of price action. This has led to Ethereum losing ground against newer Layer 1 platforms such as Tron and Solana.
However, on-chain metrics are showing a stark shift in sentiment around Ethereum. According to CryptoQuant, the amount of ETH stored in accumulation addresses is now over 19 million and is projected to surpass 20 million by the end of 2024. One of the driving factors behind this accumulation is increasing institutional interest, as Ethereum spot ETFs continue to see consistent positive weekly inflows, with over $78 million registered on October 18.
At press time, Ethereum sells for $2,578 with a 1.5% intraday decrease and about $14 billion in 24-hour trading volume.
Cutoshi Wants The Meme Crown
Introducing the innovative CUTO DEX, a cross-chain exchange that allows for seamless swaps across isolated blockchains at lightning speeds and tiny 0.25% fees.
Cutoshi draws inspiration from the Lucky Cats of Chinese and Japanese folklore. These cats are said to bring good fortune to businesses, while Cutoshi brings good luck to the blockchain. This means that early investors will reap incredible rewards the more they interact with the platform via the Cutoshi Farming initiative.
Users will enjoy substantial monetary incentives for staking the $CUTO token or providing liquidity. Moreover, community members will have the opportunity to complete fun tasks and quests and earn points which can then be redeemed for additional $CUTO tokens.
Cutoshi wants to foster a welcoming environment and help newcomers on their crypto journey. This is why the Cutoshi Academy initiative was created. On this learning platform, newcomers will find free resources that explain crypto basics, simplify DeFi knowledge, and teach the principles of optimal portfolio management.
To further boost Cutoshi’s online and offline presence, new merch and an NFT collection will be available soon, allowing users to rep their favorite meme coin anywhere they go.
Stage 2 of the presale is live and $CUTO is priced at just $0.022. With all that Cutoshi has to offer, investors feel confident in Cutoshi’s future performance.
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