With the crypto market showing signs of a bullish season, more rallies could be up ahead as FTX is set to begin distributing $16B to its creditors next week. With most of the liquidity coming back to altcoins, Nervos Network, which has surged by over 500% in the YTD price metric, could be set to retest its ATH once again.ย
In the same vein, Cutoshi, a new crypto platform that combines the fun of a meme coin with DeFi, has continued to draw the attention of Nervos Network whales who have joined the project to triple their profits. Backed by a limited supply of 440M tokens, CUTO has become one of the investors’ favorite tokens ahead of the upcoming altcoin season.ย
Whales Move in Drove to Cutoshi Ahead of the Altcoin Season
With the altcoin season drawing closer, Cutoshi has become a talking point with some analysts rating it as the next 100x meme coin. The project, which is drawing inspiration from the Chinese Lucky Cat and the Teachings of Satoshi Nakamoto, is developing an ecosystem that gives control and decision-making powers to token holders.ย
According to the crypto ICO white paper, Cutoshi is a tribute to decentralized finance, embodying the values of decentralization, monetary freedom, and privacy. Going forward, Cutoshi is more than a meme coin. At the core of the project is a decentralized exchange that ensures the privacy and security of investors’ assets.ย
Another thing that can be found in the ecosystem is Cutoshi Academy, which will help shape the project’s future and bring DeFi closer to the masses. There is also Cutoshi farming, in which investors are rewarded for completing quests and other community activities. It is a great avenue to earn in the ecosystem. The native currency of the ecosystem is CUTO.ย
Outside being used for all transactions in the ecosystem, it is a deflationary token with a buy-and-burn mechanism. Investors can buy it for $0.015 at the ongoing presale. Some analysts believe it will rival established meme coins such as Dogecoin and Bonk in the coming months.ย
Nervos Network Continues To Make Giant Strides After Upbit Listing
Nervos Network (CKB), the open-source, public block that allows individuals to access secure blockchain services, has experienced a strong rally in the past few weeks, reaching the $0.015 mark for the first time since June 11. This rally, which is attributed to its recent listing on South Korea’s Upbit, has seen the Nervos Network market cap move from $363M in early September to over $740M.ย
However, recent data suggest the market rally may be losing steam with the 7% drop in price value in the past week and the declining market activity. Meanwhile, tradingview data shows Nervos Network price is still trading above its 50-day and 200-day SMA and could be set to retest the $0.019 price point that it tested in early June.ย
While the CKB price trajectory shows optimism, the Nervos Network ecosystem has continued to witness growth having launched the CKB Fiber Network Protocol testnet full version in the past week. With the new features, the platform will offer fast, low cost decentralized multi token payments. Backed by a growing ecosystem, CKB price might surpass the $0.020 mark in Q4.ย
Which Cryptos To Buy Ahead of Q4?
A recent analysis by Ali Martinez suggests that the altcoins market cap is about to breakout which could lead to a bullish market. This signals growing investors’ confidence in altcoins such as Cutoshi and Nervos Network. While Cutoshi is still in the early stages, experts think this could be the best time to join the project.ย
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