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Solana’s congestion issues raise concerns, while Cutoshi gains traction with its DeFi-powered meme appeal and 35% presale bonus.
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Solana’s recent congestion crisis has yielded adverse effects with the altcoin losing a significant share of its market value. Trading at $173.20 at press time, analysts advocate cautious investment and diversification into more promising newcomers like Cutoshi (CUTO).
Considering the history of Solana’s congestion crisis and its ripple effect, investors are following these experts’ advice and diversifying into fast-rising projects like Cutoshi. This deflationary meme coin presents a project with DeFi utility in addition to its meme roots.
Solana technical analysis amid market pressures
SOL’s price suffered a significant price decline of almost 36% in the past month, no thanks to macroeconomic tension. This top altcoin now faces resistance at $180, with support near $170.
Despite recent price declines, some Solana traders still cite bullish signals like the Relative Strength Index (RSI) at 45, indicating undervaluation and SOL trading above its 200-day moving average ($182.70). However, VanEck cautions that SOL’s growth relies on M2 money supply expansion, a metric bound to inflation and crypto demand.
On-chain activity remains solid as Solana processed $13 billion in daily transactions this week, taking up 50% of global blockchain volume. Yet, critics point out certain risks, such as SOL’s open interest surging to $2.53 billion, raising liquidation concerns if the crypto’s price drops. The network’s congestion history also leaves doubts in investors’ minds despite institutional interest and ecosystem optimism.
Cutoshi thrives on DeFi powers and meme appeal
As SOL deals with market volatility, projects like Cutoshi continue to attract attention by bringing DeFi to the masses through accessible tools like its learning academy and DEX.
Its Multi-Chain DEX charges 0.25% fees and redistributes 80% of its ecosystem earnings to liquidity providers, a model incentivizing user participation while maintaining token value. Its learning academy also makes crypto education easy, allowing Cutoshi users to learn web3 and DeFi topics both for free and at minimal cost.
The platform also offers yield farming quests to gamify liquidity provision, enabling users to earn CUTO and NFTs by overcoming challenges. This project has also been thoroughly audited by Solidproof.
As a deflationary meme coin, CUTO burns 7% of its 440 million supply, unlike SOL’s inflationary tokenomics. This supply scarcity sets CUTO up to be the next Shiba Inu rival with more utility. Finally, early CUTO adopters enjoy exclusive NFTs with a blend of cultural appeal and utility.
Cutoshi presale stuns market observers
Into the fourth stage of its presale, Cutoshi has raised $1.8 million and is currently valued at $0.045 per token with a limited time deposit bonus of 35% in the spirit of Valentine’s week. This interest echoes a broader market trend: traders hedging their investments with innovative alternatives.
Savvy market traders have already figured out that the best way to hedge against a possible SOL price decline due to network congestion is diversification. The market is about to witness the next 100x token achieve insane heights, not by simply ‘memeing’ harder, but by solving actual problems.
Interested investors can take advantage of the 35% deposit bonus and stack up CUTO before prices rise.
Cutoshi presale live, learn more below:
- Price: $0.045 per CUTO
- Supply: 440,000,000 tokens (ERC-20)
To learn more about Cutoshi, visit its website, Telegram, and Twitter.
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This article first appeared at crypto.news
