As the month of Uptober draws to a close, Bitcoin is tantalizingly close to reaching its all-time high, prompting investors to ponder whether this holiday season will be marked by a BTC celebration. In the meantime, attention is shifting towards emerging blockchains like Solana and Sui, as investors seek promising opportunities amidst the onset of altcoin season. The new project, Cutoshi, is capturing the interest of those in search of a smaller cryptocurrency with significant growth potential, especially following its recent debut on CoinMarketCap.
**Solana Introduces New SUSD Stablecoin and Boosts On-Chain Activity**
Solana has made strides by launching sUSD, a tokenized Real World Asset (RWA) stablecoin, on October 29th. Unlike conventional stablecoins, which, as noted by Solayer, are typically backed by fiat and thus tethered to traditional financial systems, sUSD is designed to be user-owned.
“Most stablecoins are entirely dependent on conventional banking infrastructure, straying from the fundamental promise of cryptocurrency: individual freedom. To build the ultimate open internet platform, stablecoins should be decentralized and owned by users—an automated asset that only the user can create, destroy, or freeze.”
However, it is important to note that sUSD still maintains ties to traditional finance, as it is partially collateralized by a range of low-risk assets, including U.S. Treasury bills and bonds. Nevertheless, this development marks a positive step forward, enhancing liquidity on the blockchain and further driving Solana’s ambitions in the meme coin sector.
Solana’s remarkable journey in 2024 is highlighted by its price performance and the growth of pump.fun, a user-friendly meme coin deployer, alongside other popular Solana memes like POPCAT, Dogwifhat, and MEW. The revenue generated by pump.fun continues to rise—partly owing to Solana’s increasing value—sustaining high levels of network activity.
Looking ahead, VanEck’s recent collaboration with Kiln to introduce staking rewards for their Solana ETF may signal a continued upward trend for Solana in terms of price, influence, and overall market presence.
**Sui’s Cross-Chain Bridge and Growing Engagement in Gaming and DeFi**
In an unexpected turn, the Telegram game ‘MemeFi’ has opted to launch its token on SUI, recognizing Sui’s pivot from a business-centric approach to a more gaming-oriented focus.
On October 26th, MemeFi remarked, “With Sui’s substantial experience and dedication to innovation, it’s evident they are transitioning back to a vibrant, startup-friendly atmosphere.”
Sui boasts low-cost, high-speed transactions with virtually unlimited scalability, thanks to its Rust-based programming language. Although Sui has recently attracted considerable attention, MemeFi believes it identified its potential early, drawn by its innovative technology and opportunities for creating and promoting viral consumer applications.
The unveiling of SUI’s cross-chain bridge is set to facilitate the movement of assets in and out of the SUI ecosystem, enhancing participation in DeFi and gaming activities, which should lead to sustained positive price momentum. Currently, SUI is experiencing growth across nearly all timeframes, increasing by 8% weekly and an impressive 332% over the past year.
**Cutoshi: Merging Meme Coin Charm with Decentralized Finance Aspirations**
Similar to Solana and Sui, Cutoshi is pushing the envelope of what is achievable in the cryptocurrency space. This project blends meme coin characteristics with decentralized finance objectives, representing a burgeoning genre of MemeFi initiatives. Cutoshi, inspired by the Chinese Lucky Cat, symbolizes good fortune and prosperity.
Beyond its meme-centric appeal, Cutoshi’s foundation lies in the Cutoshi DEX, which, akin to Solana’s bridge, promotes cross-chain interoperability. It also features a peer-to-peer section that encourages users to explore genuinely decentralized trading options enabled by blockchain technology.
Cutoshi will offer staking and liquidity provision opportunities, alongside group farming and quests aimed at fostering community engagement and collaboration. An essential component of the MemeFi ecosystem is the Cutoshi Learning Academy, designed to empower community members by equipping them with skills in DeFi, investing, and trading.
Having recently secured a presence on CoinMarketCap, Cutoshi is currently in its second presale phase, with around 75% already sold. This indicates an imminent price increase for this new token, which is currently valued at $0.022, allowing early holders to enjoy a 46% gain from the first phase.
For more details on the Cutoshi (CUTO) presale, visit:
https://cutoshi.com
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https://t.me/cutoshi
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