According to Artemis Terminal, Solana's monthly active addresses soared to more than 100 million, the highest in the network's history. Furthermore, it soared more than 600% in October last year after breaking the 300-day mark.
This is a strong entry signal for other currencies, as well as emerging currencies like CUTO, indicating that the broader crypto market is growing.
Furthermore, on October 23rd, SOL price hit a new all-time high against Ethereum, reflecting the growing interest in altcoins from retail traders. With its hybrid protocol, Cutushi is expected to witness mass adoption and potentially the project will mirror Solana's price trajectory.
Kutoshi’s hybrid exchange attracts investors
Cutushi continues to garner significant attention during its presale due to its unique ecosystem beyond its meme coin nature. Basically, it is inspired by the Chinese beckoning cat and the teachings of Bitcoin's founder. With this, the project aims to tokenize fortune and bring it into the blockchain, promoting decentralization from the same perspective.
To achieve these goals, Cutushi introduces a hybrid ecosystem with great features. These include hybrid exchange protocols that allow users to exchange crypto assets and trade across multiple blockchains, solving interoperability issues. It also features a token farming protocol. Here, investors participate in challenges and quests to earn more token rewards, ultimately fostering an engaging community.
Combined with Learning Academy, Cutushi Goods, and NFTs, these have positioned themselves to outperform the popular Solana-based meme coin. What's even more interesting is that early adopters have already recorded a 46% ROI as CUTO has skyrocketed from its original price of $0.015 to $0.022. This means that this token has significant upside potential for early investors who join the CUTO community.
Solana price hits new all-time high against Ethereum
Solana continues to extend its positive price outlook and is trading near $175.00. On October 23, it recorded a new ATH of 0.06922 against Ethereum (SOL/ETH). This development is huge for SOL traders considering the Solana network is Ether’s biggest competitor. On-chain data shows that Solana price is showing resilience as bearish sentiment among some traders has failed to reverse the uptrend.
Source: TradingView
The SOL token is targeting the $180 psychological level, which is an important area for altcoins. Notably, SOL price could face immediate resistance at the fair value gap (FVG) between $172.91 and $175.39. Its MACD also highlights a green histogram bar that broke through the neutral level on the daily time frame. This shows a positive outlook for altcoins.
Additionally, Solana’s relative strength index is hovering just above 70, meaning the token has reached overbought conditions. This suggests that consolidation may be imminent in the coming weeks. Therefore, SOL traders should be careful when entering long positions. If SOL price begins to correct, the 10-day exponential moving average of $150.74 and the September 19 low, which coincides with the FVG floor of $134.27, will provide important support.
Can Kutoshi reflect Solana's price trends?
Although Cutushi is a meme project, it is not devoid of utility features that could provide long-term benefits. Additionally, CMC listings and community-driven features could push its value to new highs and mirror the SOL price trajectory.
For more information on the CUTO presale, please see below.
https://cutshi.com/
Join our community and become a member:
https://twitter.com/CutushiToken
https://t.me/cutshi
This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before acting on the information presented in this article.
