Now, institutional interest is driving rallies in Solana, XRP and a new memeFi token, Cutoshi.

Solana Sees Spike In Investments

Solana (SOL) has been a strong performer this market cycle. The high-speed blockchain has seen an increase in DeFi activity, which is attracting institutional money. In the last 30 days, Solana saw a major bull run, reaching its all-time high of $263.83. Despite this, the token has since corrected and is currently trading at $222.84.

Source: CMC

The key driver of Solana’s growth was institutional interest. In the third quarter of 2024, institutional investment in the Solana ecosystem hit a new high. Solana-based decentralized applications (dApps) raised $173 million across 29 funding rounds. This is a 54% increase compared to the previous quarter. The uptick indicates confidence in Solana’s ecosystem and scalable infrastructure.

Institutional interest is also boosting Solana. Despite a dip in the price, long-term moving averages are still indicating a buy. Oscillators are trending sell, but key indicators are still in neutral territory. If Solana can be above key support at $220, the token has the potential to retrace its ATH and go to $300.

Ripple Overtakes Solana In Huge Rally

Ripple (XRP) took the whole crypto market by surprise with a major rally that put it at the height of the crypto market. In just one month, the token saw a 411.39% increase, shooting past Solana and USD in market cap.

At $2.61, Ripple is in third place among crypto assets, behind only Ethereum and Bitcoin. The catalyst for the growth is a combination of legal wins, institutional interest and the crypto market rally. For one, Ripple’s win against the SEC has removed a significant weight from its price. The incoming administration will also likely be more favorable to crypto, opening up avenues for institutional investment.

This is boosting XRP’s technicals, which are strongly bullish. For one, on-chain activity shows that whales are buying $250 million in XRP tokens. Moving averages are all far below XRP’s current price, indicating a strong positive momentum. Once institutions start investing, Ripple even has a shot at challenging Ethereum.

Cutoshi Boosted By Institutional Interest

Just like in the case of Ripple and Solana, institutional interest is driving the prices of other altcoins. One of them, Cutoshi (CUTO), is attracting attention thanks to its unique blend of memecoins and DeFi.

Cutoshi is a meme coin that heavily focuses on DeFi utility. The project, which has attracted $1.2 million in investments, is building a DeFi ecosystem run by its users. Its main goal is to attract new investors into decentralized applications and spaces, offering more security and control.

The project is attracting potential users by using memes. The latest initiative is its meme art competition, which is leveraging its community to create viral projects to gain attention. So far, this tactic was a success, with the project even trending on (X) Twitter.

Memecoins have proven themselves as a popular and accessible investment for retail traders. This is why memeFi could be a strong entry point to DeFi for these investors.

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com/

Join and become a community member: 

https://twitter.com/CutoshiToken https://t.me/cutoshi

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.