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As Ethereum gears up for a recovery in March, ETH-based memeFi token Cutoshi is poised to disrupt the DeFi space.
Since late January, the crypto markets have been on a steep decline. Ethereum (ETH) was one of the tokens that was affected and saw a significant correction. However, technicals show signs of a potential recovery in March.
As Ethereum gears for recovery, ETH-based tokens will benefit. Among these, Cutoshi (CUTO) is in a great position for significant gains. This memeFi token recently went viral for its presale success and development milestones.
Ethereum could reach $4,000 in March
Ethereum has seen significant volatility this year. Currently trading at $2,737, it is down nearly 29% from its multi-month high of $4,000 in December. However, analysts predict that the token could be set for a recovery soon.
According to analysts, the recovery will depend on whether or not Ethereum can break through key resistance levels at $2,750 and $2,820. If ETH breaks out of these levels, the next target is between $3,200 to $4,000. From there, ETH can rise further.
Fundamentals for Ethereum continue to be strong. The upcoming Pectra upgrade is a move that could enhance scalability. As it prepares for rollout, this upgrade will likely boost interest in Ethereum and consequently its price.
What is more, institutional interest in ETH is growing. On Thursday, February 13, Goldman Sachs increased its Ethereum holdings by 2,000%. This shows strong institutional confidence in Ethereum, which sets it apart from other altcoins.
ETH-based Cutoshi set to disrupt DeFi
Cutoshi is an Ethereum based token that combines memes with DeFi. The token takes its inspiration from the lucky cat symbol, as well as from legendary Bitcoin creator Satoshi. Like Satoshi, it values privacy and decentralization and is building a complete DeFi ecosystem. It will feature a DEX and a wallet, both self-custodial and with multichain capabilities.
The team hopes to use the power of meme coins to get traders interested in decentralized technology. Currently, centralized exchanges (CEX) dominate crypto trading, with 84% of all spot volume. For this reason, Cutoshi is on a mission to bring meme coin traders to decentralized exchanges, making crypto trading safer and more decentralized.
So far, the project has attracted a lot of attention. On Thursday, February 13, the Cutoshi team also announced that the development of the DEX and the wallet is going faster than expected. For this reason, they decided to cut the remaining presale stages from 6 to 2, with $1.77 million raised so far.
Cutoshi presale:
- Price: $0.031 per CUTO
- Supply: 440,000,000 tokens (ERC-20)
For more information on Cutoshi, visit the website, Telegram, or X.
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