The crypto market has started the week on the front foot as bullish momentum returns. While large-caps like Bitcoin and Ethereum are seeing decent gains, it’s Solana that’s really turning heads – pushing over 8% higher in the past 24 hours.
But SOL isn’t the only crypto that’s making waves, as the eco-friendly eTukTuk project has capitalized on the market’s positive vibes. Specifically, it has raised $2.4 million during its ongoing presale.
SOL Soars as Bulls Regain Control
Solana has caught a remarkable upswing, with SOL now trading around the $188 level.
This rally has enabled the token to swiftly retrace all of the losses sustained last week. Especially those that took place during Friday and Saturday’s selloff.
The upward momentum doesn’t show any signs of letting up, either.
SOL has pushed above its 20-day exponential moving average (EMA) on the 4-hour chart, clearing a key technical hurdle.
With buyers firmly in control, SOL is now approaching resistance around the $190 level. Subsequently, a breach could open the floodgates for further upside.
Fueling the rally has been a surge in spot trading volumes.
Over $3.4 billion worth of SOL has changed hands across exchanges in the last 24 hours alone. That figure exceeds the spot volumes of major cryptos like Dogecoin and Binance Coin during the same timeframe.
SOL’s heightened volumes also represent a staggering 50% increase from the previous day’s activity. The question now for traders is how far this resurgent bullish swing can carry SOL in the days ahead.
The buying pressure isn’t just isolated to Solana either. The broader crypto market has kicked off the new week in the green across the board.
One factor potentially catalyzing the market-wide rebound is recent comments from Ki Young Ju, the CEO of on-chain analytics firm CryptoQuant.
In a Twitter post, Young Ju predicted that spot Bitcoin ETF inflows could surge if BTC’s price declines further towards key support levels around $56,000.
According to the analytics expert, this price point represents the cost basis for many new whale buyers. Specifically, those who have recently piled into spot Bitcoin ETFs.
Should BTC retrace to that level, Young Ju theorizes it could trigger a fresh wave of accumulation from these bigger players looking to dollar cost average into their positions.
Whether the overall market is pricing in Young Ju’s analysis or simply rebounding after a few days of choppiness remains to be seen.
But the bounce-back has restored some shine to the bull case – priming the market for further expansion in the week ahead.
eTukTuk Presale Raises $2.4m Amid Surging Demand for Eco-Friendly Cryptos
Interestingly, speculative demand isn’t just being seen in the large-cap crypto space.
The new eTukTuk project has been making waves of its own by raising an impressive $2.4 million in its opening presale rounds.
eTukTuk is an ambitious project aimed at disrupting the transport sector in developing nations.
At its core is the TUK token, which powers an AI-integrated ecosystem optimizing everything from routing efficiency to vehicle maintenance.
By leveraging blockchain, AI, and green technologies, eTukTuk’s team hopes to reduce emissions by creating a fleet of electric vehicles called “eTukTuks.”
The team also introduces incentives for TUK holders, including annual yields of 106% for stakers.
For investors looking to get in on the presale, TUK tokens are currently available at a price of just $0.029.
However, this price will only be available for one more week before increasing.
As environmental concerns and scalable blockchain solutions continue to gain traction in the market, eco-friendly projects like eTukTuk could be exceptionally well-positioned.
And with the development team including the founder and CEO of AsiaTokenFund, it’s clear that eTukTuk’s leadership has the experience (and resources) to bring this ambitious project to life.
Visit eTukTuk Presale
