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The cryptocurrency market has sparked another wave of bearish speculation among market watchers, as the crypto market cap dropped by an average of 5% in the past 24 hours. Ethereum, which has been witnessing dumping by whales in the past weeks, has dropped below the $2500 mark, with other altcoins witnessing significant declines.
Notably, Cutoshi has emerged as the top gainer with Ethereum whales seen increasing their accumulation of the Ethereum based meme coin. Cutoshi, a project that embodies decentralization and financial freedom, has been in the center of discussion in the past few weeks with over $280k already raised in presale. Lets see why CUTO is gaining global attention.
Cutoshi Raises Over $280K in Presale As Whales Continue Accumulation
Cutoshi presale, which started in the last few weeks, has become a talking point among market watchers. Market data shows that over $280K has been raised as Ethereum whales continue accumulating the token. One of the talking points of the project is its limited supply of 440M, which experts believe will lead to token scarcity in the future.
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Cutoshi is a revolutionary project inspired by the traditional Chinese Lucky Cat and the teachings of the legendary Bitcoin founder, Satoshi Nakamoto. Its aim is to build a system that echoes the values of decentralization, privacy, and monetary freedom. As such, its development team prioritizes security, transparency, and anonymity.
The Cutoshi ecosystem offers fantastic features and tools that ensure a seamless experience. One of them is a multi-chain DEX exchange that allows for cross-chain transactions. Also, there is Cutoshi farming, in which investors complete a range of quests and earn rewards.
As such, analysts project over 500% rallies in presale and 1000% rallies when the project lands on any major exchanges such as Uniswap. At just $0.015, experts believe now is the best time to accumulate the token at a very cheap price point.
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Ethereum Longs See High Liquidation As Whales Continue Dumping Token
According to Coinglass, the recent market crash saw nearly $100M in Ether longs liquidated as whales continued to dump the Ethereum token. Data from the on-chain market tracker Lookonchain shows how smart whales have continued to dump the popular altcoin in the past weeks.
Based on CoinMarketCap stats, Ethereum’s price has dropped below the $2500 mark, a few days after the coin suffered a rejection at the $2700 mark. Zooming in, the technical analysis from Tradingview doesn’t look good, as Ethereum is trading below the 50-day and 200-day EMA. Over 15 key market indicators are down with Ethereum market sentiment also bearish.
A crypto analyst, The Moon, told over 1.3M followers on X to pay attention to the $2,200 support level in case the altcoin continues to decline. Although the Ethereum trading volume is on the rise, which could signal a resurgence, whales are moving over to Cutoshi, which is forecasted to rise by 50x soon.
Ethereum vs Cutoshi — Which Road To Follow?
Ethereum doesn’t look to be bouncing back soon due to the recent selloff, most of which has been linked to the Ethereum founder. With the coin struggling to move past the $2700 major resistance trendline, holders are porting to Cutoshi, which has proven to be a reliable choice for long-term gains.
For more information on the Cutoshi (CUTO) Presale:
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