Ethereum (ETH), Sui (SUI), Cutoshi (CUTO)

As the crypto market trades sideways, many analysts believe this is a period of accumulation before the market’s next leg up. A pattern is emerging where investors are strategically choosing three important coins, the OG Layer 1 blockchain Ethereum and the newer Layer 1 Sui, and a utility meme coin that has the potential to bring outsized returns. 

Here we’ll examine the logic behind these holdings more closely.

Ethereum – the most secure Layer 1 blockchain?

While Bitcoin is ‘Digital Gold’, Ethereum can be seen as the gold standard for Smart Contract based blockchains. Despite various upgrades, transacting on chain is still expensive, At time of writing the average gas fee is 56 gwei which translates to estimated Ethereum transaction prices of $50.96 for a swap and $16.80 to bridge.

So why are investors so bullish on Ethereum?

Although Ethereum’s gas prices are high, the network is very large and decentralized, making it safe against a 51% attack. This means Ethereum is one of the safest cryptos along with Bitcoin, even against nation states and other giant powers.

Nevertheless paying $50 for a swap is not ideal, which is why Vitalik Buterin, Etheruem’s creator, has long since touted layer 2 scaling solutions built on Etheruem as the future.

Much of the current Ethereum development is currently to allow further scaling of these solutions, on chains such as Arbitrum, Optimism and Base, and to increase safety and usability.

Despite the inflows from the Ethereum Spot ETFs, the price of Ethereum is down significantly from its March 2024 high of $3,987, to $2,433. This means that Etheruem is likely very undervalued and could easily rise again offering a potential 2x or more for investors in 2024.

SUI – the most exciting Layer 1 contender for 2024?

Sui, a newer Layer 1 blockchain, came close to hitting its all time high this week and is currently sitting at $2.04. This is a huge move up from its August 2024 low of $0.54 and many investors believe that more upside is still to come. Especially since the Total Value Locked (TVL) now stands at a record breaking $1.1 billion.

So why is SUI doing so well?

One of the bullish catalysts seems to be the arrival of native USDC on chain. This replaces the bridged version wUSDC. This is important because having actual USDC increases safety and liquidity attracting more people to do transactions and DeFi on chain. And we can see the real time effects by the high TVL.

However FXstreet is ambivalent about the near-term future of the currency, given its rejection of the previous ATH of $2.18.

FXstreet analysts predict that if SUI can close above $2.18 then $2.87 is the next target. Investors not already in SUI would do well to follow the price action closely and then decide if the blockchain’s price is going to continue to rise.

Cutoshi – the next big utility meme coin to create millionaires?

Holding Ethereum offers an investment in a very well-established currency with many use cases, while SUI is a bet on a newer blockchain that could soon become one of the most used L1s.

Cutoshi, on the other hand, is a bet on utility mixed with memeability, built on Ethereum. Cutoshi is a cat-based meme, inspired by the Chinese Lucky Cat and the ideals of Bitcoin and Satoshi Nakamoto.

While Ethereum and SUI are established cryptos, Cutoshi is new and in presale. This means that while the potential risks are higher, the potential upside is also much greater. And experts predict that this new meme coin could do a 1200% ROI by 2025

So what is getting people so excited about Cutoshi?

Some of the best ideas in every industry mix two existing ideas together. Cutoshi brings the whimsy and group support of memecoins and mixes it with the advantages of DeFi. Such as a cross-chain DEX, and rare NFTs for early holders, providing utility and discounts within the ecosystem.

Given that Cutoshi is in stage 2 of its presale, it will continue to increase in price until it lists on the open market, by which point the hype around the project should propel it to new heights.

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com

Join and become a community member: 

https://t.me/cutoshi

Source: https://blockchainreporter.net/crypto-investors-have-taken-large-holdings-in-these-altcoins-to-future-proof-their-wallets-ethereum-eth-sui-sui-cutoshi-cuto/