While October started in a bloodbath fueled by rising tension in the Middle East, the crypto market seems to have recovered. The total market volume of cryptocurrencies has surged by 50% to $54.25B in the past 24 hours. Popular altcoins such as Avalanche and Fantom have continued recovering and could hit new highs in the coming weeks.
Meanwhile, Cutoshi, the new DeFi project, is tipped for massive returns in October. Having kicked off the presale phase a few weeks ago, the team has raised over $300K. Most experts link the surging interest in the project to the unique multichain DEX exchange. With its goal of solving common DeFi problems like asset bans, CUTO is projected to deliver huge returns soon
Cutoshi Backed For 40x Rallies In October
Unlike other projects, such as Dogwifhat and Bonk, which have no real utility, Cutoshi is a project with strong utility. The native token CUTO serves as a means of transactions in the Cutoshi University. Also, it is the primary means of sharing rewards, cashbacks, promotional offers, etc. One of the attractive points of the project is the Cutoshi ecosystem.
The Cutoshi ecosystem is designed to solve common problems in DeFi, such as interoperability, asset bans, high gas fees, and slow transaction processing. One common tool and feature in the ecosystem is the multi-chain DEX exchange, which allows cross-chain asset swapping. There is also a farming protocol in which investors are rewarded for participating in quests.
Moving ahead, Cutoshi University is another feature of the ecosystem designed to allow investors to gain insight into the crypto market and DeFi. Meanwhile, the goal of Cutoshi is to return to the core DeFi principles of freedom, privacy, anonymity, and monetary empowerment.
Inspired by the Chinese Lucky Cat and Satoshi Nakamoto’s teachings, Cutoshi wants to bring wealth, luck, and prosperity to investors’ digital assets. At the ongoing stage 1 of the presale, CUTO, the utility token is sold for just $0.015. Backed by a limited supply of 440M, analysts forecast 40x rallies in October. As such, this nascent stage is the best time to accumulate it.
Can Increasing Whale Activity Drive Avalanche Price To $30
Avalanche, the popular DeFi token, has made a significant recovery in the past few days. Having struggled to maintain the $24 support zone, the altcoin has rebounded and is now eyeing the next resistance at $30 amid increasing whale activity. CoinMarketCap stats show Avalanche price has increased by 25% in the monthly chart.
Also, the Avalanche trading volume and market cap have witnessed positive growth in the past day, with key market indicators showing bullish signs. Tradingview data shows that the AVAX coin is trading above the 50-day SMA ($25.03) and could hit the 200-day SMA ($31.29) in the coming days.
Based on a technical analysis on X, crypto analyst Ps Trade noticed that the Avalanche price has broken out of the falling trend channel and is hovering above the liquidity and purchasing zone. In the analyst’s view, the coin will hit $49 soon. Given its overall positive outlook and with the increasing whale activity, the AVAX price could push above the $30 resistance level in the coming days.
Fantom Price Rebound Amid Upcoming Sonic Upgrade
After trading sideways in the past few days, the Fantom price is showing signs of a major rally amid the upcoming Sonic upgrade. Fantom, the popular smart contract platform, is scheduled for a Sonic upgrade in late 2024. The upgrade is set to come with improvements such as an optimized Lachesis consensus mechanism, a new Fantom Virtual Machine, and increased transaction processing speed, among others.
With the ongoing developments in the Fantom ecosystem, data from Defillama shows that the Fantoms TVL has grown to $107.32M to signify investors’ confidence in the platform. As per CoinMarketCap data, the Fantom price has surged by 67% in the past month to set support above $0.50. Also, the Fantom market cap is rising and is now close to the $2B mark.
The technical analysis from Tradingview shows that the Fantom token could retest the $0.70 resistance trendline soon. If the altcoin is able to break the zone, the FTM price will hit $1 in the coming weeks. Based on Digitalcoinprice Fantom price prediction, the altcoin price will hit around $1.38 before the end of the year.
Why Investors Are Accumulating Altcoins In October
Market data from previous years has shown that the crypto market always witnesses a rally in Q4. With October showing signs of kicking off the rally, investors are using the opportunity to accumulate popular altcoins like Fantom and Avalanche. Already, Cutoshi’s presale has broken records and could hit 50x returns before the end of 2024.
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