In light of its recent price movements, Ethereum (ETH) is facing challenges in maintaining its momentum as investors move to newer altcoins like Octoblock (OCTO).
Ethereum (ETH) price
The Ethereum price has declined 16% from its year-to-date peak of $4,093.92. The cryptocurrency is currently trading in a sideways pattern, struggling to surpass the $3,600 resistance level. ETH’s supply on exchanges has increased consistently in the last few weeks, hitting the highest level in the past year on March 25. The surge in supply suggests the potential for higher selling pressure, which could further impede ETH’s price recovery in the near term.
Octoblock (OCTO): The new altcoin attracting investors
Octoblock is a revolutionary DeFi (Decentralized Finance) protocol that seeks to achieve profitability, expansion, and philanthropy by leveraging the power of a united community and a strong treasury in collaboration with Game-Fi and DeFi mechanics.
At the core of this new altcoin is a groundbreaking revenue generation system known as the Nautilus Trove. This system allocates 75% of capital to low-risk DeFi strategies like farming, staking, and arbitraging, ensuring consistent returns for investors. The remaining 25% is directed towards revenue-generating ventures, fostering a yield return. OCTO prioritizes rewarding its token holders, with at least 50% of generated revenue flowing back to them through Yield Farming and Sweepstakes. Notably, a significant portion of profits will go to OCTO’s Tentacle Trust initiative, which will contribute to licensed charity organizations that work towards conserving marine life, cleaning ocean waters, and reducing the effects of human activities on marine ecosystems. Therefore, by holding OCTO tokens, investors will contribute effectively towards helping preserve our world for future generations.
Octoblock envisions a future characterized by simplified interactions across blockchains, with Coral Cove exemplifying this forward-looking perspective. Coral Cove is Octoblock’s comprehensive online platform designed to facilitate the seamless bridging and swapping of assets across a diverse array of networks. By consolidating asset swapping and bridging functionalities within a single DApp (Decentralized Application), OCTO will eliminate the complexities of navigating through multiple platforms, enhancing user experience. Coral Cove will also leverage liquidity aggregation to optimize transaction routes, ensuring users access the most optimal transaction routes, thereby maximizing their financial operations. Aside from its technological prowess, Octoblock has also attracted investors with its Initial Coin Offering (ICO) event. The ICO is set to distribute 80% of the OCTO supply, and with phase 1 selling OCTO at $0.0035 and offering a 15% bonus, investors are set to gain significant profits upon the altcoin launch at $0.1. Additionally, Octoblock is issuing a Tesla Giveaway exclusive to ICO participants. For every OCTO token purchased, the buyer will receive one entry into the giveaway.
Conclusion
Ethereum’s challenges in maintaining momentum amidst the rise of newer altcoins like Octoblock (OCTO) underscores the dynamic nature of the cryptocurrency market. Through its innovative approach to DeFi, OCTO has presented a compelling investment opportunity with a purpose-driven impact.
Link: https://www.analyticsinsight.net/ethereum-is-lagging-behind-because-these-fresh-alts-are-more-attractive/?utm_source=pocket_saves
Source: https://www.analyticsinsight.net
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- Source: https://www.fintechnews.org/ethereum-is-lagging-behind-because-these-fresh-alts-are-more-attractive/
