Can Solana Price Reach $190? Ethereum Like Surge Reemerges In New Hybrid DeFi Token Cutoshi

Ethereum

Can Solana Price Reach $190？ Ethereum Like Surge Reemerges In New Hybrid DeFi Token Cutoshi

As Solana reached $181, then retraced slightly to its current level of $176, the question is how far can it go？ Will the upward trend continue？

As Bitcoin teases new all time highs, we examine the price action and narrative surrounding 2024‘s success story Solana, Eth’s stru ggling price amidst development, and Cutoshis hybrid DeFi token.

The Path Looks Clear For $190 And Beyond For Solana

A poll on Binance shows that 74% of users either feel ‘Bullish’ or ‘Very Bullish’ about SOL.

Solanas recent price action makes the path to $190 increasingly likely. Solana has demonstrated remarkable strength, climbing from $131 in mid-September to its current position at $176, establishing a series of higher lows along the way. Importantly, trading volume has grown to $24.8 billion in the latest week, a 50% increase from previous weeks, indicating strong buyer conviction.

The technical structure on the weekly chart shows solid support around $160, with the current uptrend supported by healthy volume and gradual, rather than parabolic, price increases. The $13.46 move needed to reach $190 represents just a 7.6% increase from current levels – a realistic target given SOLs recent path.

Other bullish news for Solana is that Canary Capital is yet another firm to file an application with the SEC to launch a SOL ETF. Although the ETH spot ETFs haven‘t boosted the price yet, it may be that Solana’s speed, slick interface, and meme coin successes, bring new investors to the chain.

Ethereum Continues Plan For Improving Layer 2s And Securing The Network

Ethereum Founder Vitalik Buterin has been writing a lot recently about the future of the blockchain. More in depth than ever before.

There are five stages of the development plan:

• The Merge: Transitioned Ethereum to Proof-of-Stake in 2022, slashing energy use and increasing decentralization.
• The Surge: Boosts scalability to 100,000 TPS via Layer 2 optimizations and efficient data storage.
• The Scourge: Tackles MEV bots for fairer trading, and centralization in block creation, ensuring fairer access for smaller validators.
• The Verge: Enables lightweight nodes to run Ethereum, enhancing decentralization through “stateless clients.”
• The Purge: Reduces data bloat by expiring unused data, making nodes leaner and more manageable.
• The Splurge: Final optimizations to improve the EVM and prepare Ethereum for future tech challenges.

‘The Verge’ is very interesting because it may offer users a way to make money on Ethereum with their smartphone. This is speculation based on the fact that smartphones are mentioned as one way to verify things on chain in the future.

Price-wise, Ethereum hasn‘t recovered yet from the August sell off, and while development on chain may not all directly boost ETH’s price, it is likely to do so indirectly. At least if investors can see the value of Ethereums technology as securing and boosting the majority of popular blockchains. ETH is still the biggest blockchain for DeFi by TVL (Total Value Locked).

Cutoshi Sets Down A Vision For How To Bring DeFi To The Masses

Cutoshi is another DeFi protocol built on Ethereum. But there‘s a twist, because it’s being created in a fun way with cute and whimsical graphics, with the Lucky Cat as a mascot.

The idea is that, like games like Aavagotchi, (part of the DeFi lending protocol Aave) which uses the power of community engagement, 8bit art introduces people to decentralized finance.

Cutoshi isnt a game yet, (but if the project is a big success one can imagine a trippy adventure game with Chinese Lucky Cats!), but there will be gamified aspects such as token farming and community quests.

At the center of the Cutoshi ecosystem is the Cutoshi DEX. As the exchange is cross-chain it aims to make DeFi easier and cheaper for its users. By offering a decentralized option it stays true to the ideals of Bitcoins creator Satoshi Nakamoto, after whom the coin is named.

As the roadmap progresses there will be rare NFTs reserved for early holders of the CUTO token, and there will be a learning academy so that people can master DeFi and other web3 concepts.

Given that CUTO is only in the second stage of presale (at 85% sold out), theres still time to get involved before the price rises. Early holders of CUTO are up 46% since the first stage of the presale concluded.