Bitcoin Dominance Remains, But Altcoins Show Bullish Momentum
Although Bitcoin’s position in the crypto market remains undisputed, altcoins have recently been showing significant bullish upswings. According to Lookonchain, an Ethereum (ETH) trader with a massive win rate sold $27.8 million worth of ETH tokens, making a profit of $554,000. This demonstrates the profitability of smart crypto investments.
Aside from Ethereum, other coins making notable strides in the market are Fantom and Cutoshi. Fantom’s uptrend has been linked to recent upgrades, while Cutoshi’s success during its presale has attracted investor attention. Read on to learn more about these emerging opportunities.
Cutoshi: A New Memecoin Making Waves on Ethereum
Most memecoins are driven by hype and speculation, making them highly volatile. However, with the emergence of Cutoshi (CUTO), investors gain access to a unique decentralized exchange (DEX) that prioritizes privacy and security. Cutoshi aims to combine the teachings of the legendary Satoshi Nakamoto and the Chinese Lucky Cat to bring luck, wealth, and prosperity to digital assets.
During its initial ICO stage, Cutoshi has raised around $330,000, with experts projecting a rise to $500,000 in the coming weeks. The platform also features several pillars that make the ecosystem educational and fun:
- Cutoshi Academy
- Cutoshi Farming
- Cutoshi NFTs
- Cutoshi Merch
The $CUTO token powers the Cutoshi ecosystem and is currently in the first stage of its presale, available at $0.015 per token. Early buyers can take advantage of this low price, with analysts projecting an 800% increase in the value of Cutoshi before the end of the year.
Andre Cronje Calls on Developers to Join Fantom’s Sonic Upgrade
Fantom (FTM) is experiencing a massive rally as its upcoming Sonic upgrade approaches. Andre Cronje, the founder of the Fantom Foundation, has called on developers to join him for this launch, which is expected in December. If successful, the upgrade will solidify Fantom’s position as a major player in the blockchain industry.
The recent breakout has increased investor confidence, as confirmed by CoinMarketCap data showing a 55% surge in Fantom’s price over the past month. With over $283 million in daily trading volume, Fantom has joined the ranks of the top-performing cryptocurrencies.
Fantom’s technical indicators look promising:
- Market sentiment is bullish, with a fear and greed index of 61.
- Fantom has witnessed 17 green days in the past month.
- Coincodex predicts a 5% price rise in the coming weeks.
With these positive indicators, some holders are migrating to Cutoshi, which is projected to achieve a 10x increase in value in Q4.
Ethereum Price Action Indicates Positive Momentum, Expert Says
Ethereum (ETH) has been on an upward trend in recent weeks, catching the attention of many experts. Analyst Ciscke Kelvin is bullish on Ethereum, believing that the current price action points toward a movement to the upper resistance levels. However, he warns investors to watch key targets at $2,810, $3,220, and $3,570.
Analysis from Santiment reveals that Ethereum network activity has picked up as investor confidence grows. Based on CoinMarketCap data, Ethereum’s year-to-date metrics show a 64% gain, and its market cap stands at $319 billion, with projections to reach $400 billion in Q4. Additionally, the price volatility of ETH is 4%, and market sentiment remains neutral.
Currently, Ethereum is trading above the 50-day SMA ($2,524), but it is still somewhat distant from the 200-day SMA ($3,138). The Relative Strength Index (RSI) is at 54, which is a positive sign. With 18 green days recorded in the past 30 days, Ethereum is one of the coins worth considering for your portfolio.
Top Altcoins Experiencing Major Price Swings
With a bullish market sentiment, investors are closely monitoring altcoins and taking long positions. As the final quarter of the year approaches, Cutoshi, Fantom, and Ethereum could make a significant impact in the market.
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