After months of a bearish market for cryptocurrencies, things are starting to look up. Some of the most significant altcoins are recording massive breakout rallies. This recent market rebound has been influenced by the US Federal Reserve’s decision to cut interest rates by 50 basis points.
Internet Computer, a blockchain network, has benefitted from this turnaround, witnessing considerable buying interest. On the other hand, Cutoshi continues to shake up the market with its unique utility-backed ecosystem. Cryptocurrency optimists project massive price surges for these two altcoins triggered by the rising adoption of DeFi applications.
Cutoshi (CUTO) Set To Revolutionize DeFi
Taking inspiration from the Chinese Lucky Cat and Bitcoin’s creator, Satoshi, Cutoshi wants to bring prosperity and luck into your portfolio. It introduces a utility-backed token that powers an entire decentralized ecosystem that has its own multichain DEX. This DEX will simplify trading, enabling users to trade across different blockchains without barriers.
The project will also feature a reward system — Cutoshi farm, which will distribute rewards to its community members when they complete quests and challenges. Complimentary rewards will also come in the form of NFTs to early backers of the project and winners of upcoming competitions.
Notably, Cutoshi’s recent performance has been impressive. Just a few days into its presale, Cutoshi token has raised over $160,000, with a projection of $330,000 by the end of the week.
Early adopters can buy CUTO tokens at a presale price of $0.015. Since Cutoshi does not just depend on hype, experts have projected bullish sentiments, suggesting that the Ethereum-based meme coin could soon rival Dogecoin and Shiba Inu.
Internet Computer (ICP) Lead the Pack in Development Activity
Onchain analysts firm Santiment reported projects with the highest development activities in the past 30 days. The report highlights the Internet Computer network among the projects leading the pack. This development reflects Internet Computer’s prospects for product growth and user adoption. Besides that, Internet Computer price metrics have witnessed explosive performance. Notably, the price of Internet Computer rose by 19% in its monthly chart, suggesting a broader market optimism.
This latest rise added to its impressive 213% yearly gain, has ranked the Internet Computer token among the top-performing altcoins on the market. Over the past weeks, Internet Computer price has been gearing up to reclaim its upper critical resistance level, and potentially break through it.
If Internet Computer maintains this bull momentum, it could witness extended breakout rallies. As such, experts have made bullish Internet Computer price predictions, projecting that this altcoin could reach $15 by the end of 2024. With a growing adoption of DeFi, coupled by its ongoing network development, Internet Computer coin could quickly get to this level.
Why Invest In Cutoshi and Internet Computer
Market analysis has proven that the right time to invest in any crypto project is in its early presale stages for maximum returns. With Cutoshi’s goal of bringing DeFi to the masses, it has a chance of attracting new investors who would trigger skyrocketing rallies in months to come.
As for Internet Computer altcoin, there is already considerable growing interest that will potentially trigger extended rallies.
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