The altcoin season is starting and traders are looking for the best opportunities. On-chain data and technicals are predicting new highs for Solana and Avalanche, while a recently launched memeFi token Cutoshi has risen significantly in its presale price.

The high-performance blockchain Solana (SOL) has been one of the best performers this cycle. Currently standing at $253.70, Solana rose 52.14% over the last thirty days.

Cryptocurrency traders are on the lookout for the next best opportunities as the altcoin season begins. On-chain data and technicals are pointing towards new highs for Solana and Avalanche, while a recently launched memeFi token Cutoshi has seen a significant rise in its presale price.

Solana Eyes $300 After Major Bull Cycle

High-performance blockchain Solana (SOL) has been a top performer this cycle, currently trading at $253.70 after a 52.14% increase over the last thirty days. The primary factor driving this performance, besides the bull market, has been institutional interest in Solana.

So far, banks and investment funds have had limited ways to directly invest in Solana. These institutions hold vast amounts of capital and can greatly influence the market, and following the 2024 US elections, traders have been anticipating approval for more regulated methods for investing in Solana: ETFs.

Solana ETFs have had a low probability of approval so far, but following the elections, the total application count has risen to four, including VanEck, 21Shares, Canary Capital, and Bitwise. These applications have been building momentum for SOL.

Solana is currently trading above its 20-day moving average of $207, indicating bullish momentum. The next resistance for the token is at $263, and if Solana manages to stay above it, we could see the token move past the psychological line of $300.

Avalanche Eyes $60 On Network Activity

Infinitely scalable blockchain Avalanche (AVAX) has also been a top performer this cycle, notching up a 64.20% gain from $25.4 to reach its current level of $41.75. Now, Avalanche is seen holding a critical support level of $38.57, and if it manages to maintain this level, experts are predicting it has the potential to breach the $60 mark.

The main factor driving this technical strength has been the surging ecosystem activity. Over the last seven days, Avalanche has seen a 51.83% increase in new wallet addresses. At the same time, there was a 24.69% rise in active addresses.

On November 23, the network also saw a 9.09% increase in the total value locked (TVL), reaching $1.4 billion. Considering that TVL is a primary indicator of a network’s strength, this sharp increase showcases a substantial appreciation of assets on the Avalanche Network.

Cutoshi Presale Price Rises 72.7%

The bullish market has seen traders piling into new opportunities, and one token that has benefitted is Ethereum-based memeFi token Cutoshi (CUTO). The token has seen its presale price rise from $0.015 to $0.0259 in just a few weeks, as the token nears its presale sell-out following over $1 million in presale investments.

Cutoshi is a memeFi token that blends the virality of memecoins with the utility of DeFi. The token features a Chinese Lucky Cat symbol, which is widely recognized throughout Asia. At the same time, Cutoshi draws inspiration from Satoshi Nakamoto, the creator of Bitcoin, as it sets out to build a decentralized ecosystem governed by its community.

Its platform boasts a multichain DEX, learning platform, and farming, aiming to make DeFi accessible to all. With traders being more concerned than ever about decentralization and self-custody, Cutoshi is well-positioned to attract users during this bull market.

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