Ethereum And Solana Coins Battle For The Crypto Market, Cutoshi Progress Putting ETH Back On The Map
- Cutoshi (CUTO) sold out its first presale stage in two weeks, attracting attention from retail and institutional investors in the crypto market.
- With Ethereum and Solana struggling, traders are shifting focus to Cutoshi, believing it could emerge as a leading meme coin in 2024.
- RateX launched on Solana, enabling leveraged yield trading and enhancing DeFi, showcasing the platform's commitment to innovation and growth.
Cutoshi: The Next Big Meme Coin for Investors in 2024
Ethereum and Solana gave exponential returns to their early investors, but in the current market trend, they have been showing weakness and in correction mode for months. For over two months, Solana has been unable to cross the $160 level, while Ethereum is still struggling to regain the $3,000 level. The failure to regain strength in large-cap has moved traders towards emerging coins like Cutoshi.
Due to its growth potential, Cutoshi has attracted retail and institutional investors. CUTO has proved its potential by selling out the first presale stage within two weeks of launch. Early Ethereum investors believe Cutoshi could be the next big thing in the meme coin market.
DBS Bank Integrates Ethereum-Compatible Tech To Enhance Institutional Finance
DBS Bank in Singapore has launched a blockchain-powered banking service for institutional investors, offering features like tokenization and smart contracts. DBS Token Services allows real-time, 24/7 payment settlements using the bank's permissioned blockchain, which works with Ethereum’s Virtual Machine (EVM).
Recently, DBS also became the first bank in Asia to provide institutional-grade cryptocurrency options trading and structured notes. These offerings, available only to eligible institutional and professional clients in Asia, give direct exposure to Bitcoin and Ethereum price movements.
Meanwhile, Ethereum co-founder Vitalik Buterin shared his vision for Ethereum’s next phase, “The Surge,” in an October 17 blog post. He aims to scale the network to handle over 100,000 transactions per second (TPS) on Ethereum’s mainnet and layer-2 solutions.
RateX Goes Live On Solana
RateX officially launched on the Solana mainnet on October 17, 2024, becoming the first-ever leveraged yield exchange in the world. This is a big step forward for decentralized finance (DeFi). RateX allows users to trade synthetic yield tokens (YT) of various yield-bearing assets (YBA) with up to 10x leverage, offering a new way to maximize returns.
Backed by a grant from the Solana Foundation and recognized as the first-place winner of the Solana Renaissance Hackathon (MCM), RateX is committed to pushing the limits of DeFi innovation. To strengthen its platform, RateX has formed key partnerships with Jupiter and Jito, two prominent players in the Solana ecosystem. These collaborations will enhance RateX’s technology and expand its presence in the DeFi and staking community.
Cutoshi (CUTO): A New Player In MemeFi Space
As investors watch for a breakout in the cryptocurrency market, some analysts have shifted their attention to Cutoshi. CUTO serves as the native currency of the Cutoshi platform and enhances user engagement in decentralized finance (DeFi) through various utilities.
The Cutoshi ecosystem offers a decentralized exchange (DEX) where users can trade tokens directly without relying on centralized platforms. With low transaction fees and an easy-to-use interface, the DEX appeals to traders who value efficiency and control over their assets. Cutoshi also offers token farming and staking options, allowing users to lock in their tokens and earn rewards over time, encouraging long-term holding and boosting liquidity on the platform.
The project gained attention when it was listed on CoinMarketCap shortly after its presale launch. Early investors have seen a 46% return, with the CUTO price rising from $0.015 to $0.022 after the first presale stage sold out. If the team continues to deliver on its goals and keeps the community engaged, Cutoshi's price could rise to $0.5 and $1 by the end of the year.
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