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Crypto markets have been extremely volatile recently. However, experts are expecting a breakout soon, and looking for best buys. Specifically, a new utility memecoin Cutoshi is among the favorites. This viral memecoin will likely surpass established giants like Ethereum (ETH) And Solana (SOL).
Experts Say Cutoshi Can Turn $1000 To $1 Million
The new memecoin Cutoshi (CUTO) is capturing the attention of experts. Only in its presale phase, this token is currently at a low price of $0.015. Experts explain how this token can soon rise to $1, going 1000x.
Part of the reason is that this memecoin combines the virality of memecoins with the stability of DeFi. This much is obvious from its mascot and name. Its symbol is the Chinese Lucky Cat, one which is recognized all over the world. This lucky cat is now on the blockchain, bringing prosperity to your portfolio.
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At the same time, Cutoshi embodies the values of Bitcoin creator Satoshi. Because of its values of decentralization and freedom, Cutoshi is building a complete DeFi ecosystem. This includes a DEX, token farming, NFTs, and more.
Its multichain DEX will enable everyone to trade without any restrictions. It also features a burning mechanism, which makes the token deflationary. Because of this, and its fixed and low supply of just 440,000 million tokens, Cutoshi has a real shot at surpassing $1, once it lists on major exchanges. Such an increase, combined with multiple rewards for early buyers, can turn $1000 into $1 million.
Ethereum Sees Bearish Months
Compared to Cutoshi, Ethereum (ETH) shows just modest potential. Most recently, things were not going well for the main DeFi platform. Despite all its technical updates, Ethereum rose just under 50% last year. This puts it at $2,367, less than half of its all-time high in 2021.
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The main reason for Ethereum’s slow performance is cannibalization by its level 2 (L2) scaling solutions. Due to a large portion of the traffic going to L2s, Ethereum’s main chain is seeing declines. This is impacting its burning mechanism, making the token inflationary.
Despite this, Ethereum is still the biggest DeFi ecosystem, capturing more TVL than all other chains combined. What is more, its L2 will likely boost it in the long run. This means that ETH will likely turn around. However, this will take time and is unlikely to bring 1000x gains.
Solana
The DeFi powerhouse Solana (SOL) is struggling, which is reflected in its price. In the past few weeks, Solana lost most of its recent gains and is only up 3% in the last 30 days. Moreover, declining network activity is putting stress on the network.
Memecoin activity is losing steam, as many low-effort projects dominate Solana’s network. This is bad news for the network, as its traffic is also going down. Solana’s traffic is also impacting validators, with smaller validators struggling to stay afloat. This is because validator costs are mostly fixed, while revenues scale with staked assets.
As validators struggle, Solana is seeing an increased risk of centralization. If current trends continue, only the biggest Solana validators will profit enough to maintain the expensive infrastructure. This may make Solana more centralized than ever, and risk network-wide outages if any of them go offline.
For more information on the Cutoshi (CUTO) Presale:
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