The past few weeks has witnessed notable declines in the prices of several top altcoins, with a few top DeFi coins like Cardano (ADA) and Binance (BNB) consolidating below their resistance levels. In search of profitable alternatives, savvy investors are shifting their attention to emerging memecoins with lucrative potential and promising narratives.
A notable example in this category is Cutoshi (CUTO), a fast-rising presale gem that has delivered over 100% ROI in a few weeks of launching its ICO, thanks to its hybrid protocol. While it promises to liberate everyday people from the centralized financial landscape with only a few profits, Cutoshi is offering easy access to lucrative DeFi tools.
Cutoshi Aims to Attain Top DeFi Coin Status With Hybrid Approach
Unlike typical memecoins, Cutoshi (CUTO) operates as an hybrid protocol that merges the communal approach of memecoins with the lucrativeness of DeFi. This unique combination was born out of inspiration from the popular Chinese lucky cat associated with good fortune as well as Satoshi’s blockchain core principles of decentralization, monetary freedom and privacy, all of which is aimed at bringing DeFi to everyday people.
As a result, Cutoshi’s unified ecosystem houses a DeFi hub that features a multi chain DEX protocol, farming mechanism, and a dedicated Cutoshi Academy that aims to propagate DeFi adoption. While these provide users with multiple avenues to generate revenue, users who participate in specific quests also get rewarded with complimentary gift items such as NFTs and Cutoshi merch.
Meanwhile, powering the entire operation within the Cutoshi ecosystem is the native $CUTO token which facilitates transactions as well as Cutoshi DEX’s buy-and-burn mechanisms. Now in the fourth presale stage, the CUTO token is selling for $0.031, delivering over 100% ROI for early backers who purchased at the launch price of $0.015. This positive outlook, coupled with its potential for 100x growth positions Cutoshi among the best cryptos to buy.
Cardano Price Trajectory Stalls Amidst Declining Momentum
The price of Cardano (ADA) remains trapped below the $1 price mark despite several attempts to break out of the consolidation zone. Currently trading within a weekly price range of $1.00 and $0.97, ADA price still reflects roughly 3% decline, shrinking its monthly gain to only about 14%.
Furthermore, a closer look at the monthly chart reveals that ADA price is currently forming a rising wedge which typically translates to an imminent downtrent. This explains the neutral position indicated by ADA price moving averages despite recent recovery from lower regions around $0.87. Regardless, Cardano token has continued to enjoy community support, with 90% of over 190K CMC community members voting in favor of a bullish trajectory.
On a lighter note, popular crypto analyst, Ali Chart in a recent X post, claimed that the native ADA token is consolidating within a symmetrical triangle on a daily timeframe. If it holds, Ali added that the current trend could trigger a 40% price move for ADA token.
Binance Price Rebounds Amidst Extended Consolidation
The price of Binance (BNB) coin has made significant recovery even though it still trades below the $700 resistance level. In the past week, Binance price has made a bullish recovery from the lowest point around $640 to currently trade above the $680 region.
Despite the noticeable price surge, BNB price still reflects a little above 1% decline in the past week and roughly 4% in the past month. Assuming the current trend persists, BNB price could soon make full recovery above the crucial price level.
Meanwhile, Binance coin’s technical analysis suggests that the BNB price recovery has only just begun considering that the Moving Averages signals a neutral position. Regardless, there has been a strong optimism among token holders with 81% of over 42K CMC community members voting in favour of a bullish trajectory.
Can Cutoshi Attain Top DeFi Coin Status Like BNB and ADA?
Considering its hybrid approach, Cutoshi is more than just a memecoin which explains the growing interest in its ICO campaign. While the Cutoshi ecosystem houses DeFi components, the native CUTO token is designed to thrive on genuine use cases that can boost the value for token holders, ultimately allowing it to achieve Top DeFi coin status like Binance and Cardano.
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