The floodgates have been opened and crypto is going mainstream. Fund managers are stacking Bitcoin (BTC) at unprecedented rates as institutional interest is skyrocketing.
Although it’s still in its infancy, the DeFi space is booming as well and Cutoshi (CUTO) is about to set new standards. The project’s goal is to lower entry barriers and provide comprehensive DeFi education to the growing numbers of retail investors taking their first steps in the crypto world.
Bitcoin Is Back Above $100k As ETFs Now Hold More BTC Than Satoshi
After the weekend slump and a retest of the lows, Bitcoin (BTC) has reclaimed the $100k landmark. At the time of writing, Bitcoin trades at $101k following a 1% intraday increase. The 17% decline in trading volume suggests a short-term slowing down of Bitcoin’s momentum, with roughly $77 billion worth of BTC traded across exchanges.
On December 6, analyst Eric Balchunas revealed that BTC ETFs reached a historic milestone, as they now collectively hold over 1.104 million BTC, worth approximately $110 billion. This is significant as according to rumors, Bitcoin creator, the elusive Satoshi Nakamoto, holds 1.1 million coins, which easily places him among the richest people on the planet.
On Tuesday, according to SoSoValue, Bitcoin ETFs recorded an all-time high in net inflows, with $439 million in fresh capital rotating into the 12 spot ETFs provided by financial behemoths such as BlackRock, GrayScale and Fidelity.
What does this mean for Bitcoin’s future price action? Analyst and trader LukaDonTrades has shared a BTC chart reading that uses Fibonacci levels to estimate the next potential move for Bitcoin. As Bitcoin continues to move within the ascending channel, Luka believes that the next obvious target is $110k.
On the other hand, Bitcoin’s dominance is slowly waning as it already tested the support. Once a breakdown is confirmed, alts will take the spotlight and low-cap gems like Cutoshi could enter escape velocity and explode in value over the next few months.
Source: TradingView
Cutoshi Is Taking The Meme Coin Market By Storm
Unlike most meme coins, Cutoshi is built with longevity in mind. That’s why, behind the cutesy and whimsical surface, it boasts a state-of-the-art DeFi ecosystem that could rival established protocols such as Uniswap or ShibaSwap. Through the CUTO DEX platform, users can seamlessly swap assets across all major blockchains.
The exchange is fully non-custodial, meaning that users won’t have to share sensitive data or rely upon third parties for the safeguarding of their holding. This approach reflects Cutoshi’s commitment to privacy and decentralization, the two cardinal precepts of crypto philosophy that drove Satoshi Nakamoto to change the world forever with his invention.
Moreover, users can earn substantial rewards for actively engaging with the Cutoshi ecosystem. Through the Cutoshi Farming model, they will have the opportunity to do their part in the project’s rise to prominence and boost Cutoshi’s social media reach. For their loyalty, they will receive CUTO points that can be later exchanged for $CUTO once the token hits the markets.
One of Cutoshi’s most interesting aspects is the unique Cutoshi Academy. This is an educational hub that wants to empower beginners by granting access to free resources that demystify key concepts such as DeFi and teach the basics of trading and portfolio management. With this initiative, Cutoshi seeks to narrow the knowledge gap and foster a welcoming and inclusive environment for beginners lost in the intricacies of crypto.
Stage 4 of the $CUTO presale is live and tokens sell for just $0.031. Taking action today could lead to incredible gains during the upcoming alt season.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
