Ethereum has come under strong pressure lately and has fallen to the $3,700 level as the number of short positions has surged. According to the latest data from Santiment, the Ethereum exchange reserves are low at the same time as the bearish shorts. This has happened in previous cycles as well.
On the other hand, the spotlight has shined brightly on Mutuum Finance (MUTM), now at $0.035 in the presale stage and raking in 17,660 supporters and $18.35 million. Thus, it seems to be the best cryptocurrency to purchase today given the desire for secure income rather than volatility. With ETH going through this turbulence, the linear rise of MUTM entices buyers wanting the best of altcoins.
Ethereum Faces the Setup of a Possible Short Squeeze
Traders have accumulated heavily in the shorts as Ethereum has moved down to $3,700, and this has given Ethereum quite a bearish bias that has been identified as a reversal signal through analytics provided by Santiment. The level of Ethereum reserves has fallen significantly to historic lows, thereby reducing the selling pressure and paving the way for counter-intuitive moments of recovery during each dip. This has been quite trying when looking at the resilience of Ethereum in its core smart contract area.
On the other hand, institutions have been doing their best to counter the pessimism, and the $72.5 million ETF purchase made by BlackRock on October 28 being a strong signal that ETH has the best tokenization in the business. This has been a strong indication to the owners of the cryptocurrency that the level of $3,500 might just come to pass as a floor, paving the way for the jump to $4,000. All the same, the volatility of ETH has made many switch their investments.
Mutuum Finance Presale Charges Ahead
Mutuum Finance (MUTM) has moved to phase 6 in its presale event and has been 85% accumulated at the current price of $0.035 per token. This price has seen a 250% increase from the initial price at phase 1 at $0.01. This has helped the project raise $18.35 million from 17,660 unique participants.
Phase 6 has been sped up towards the finish, intensifying the rush—to lock in safe tokens before the price surge of 20% to $0.04 in Phase 7, en route to a $0.06 launch that can deliver 410% returns. Yet token holders have already solidified this advantage as their portfolios are ready for the DeFi explosion. Anyone feeling the squeeze of Ethereum’s struggles must look towards the best cryptocurrency to invest in, MUTM.
Leaderboard Drives Daily Engagement
Mutuum Finance (MUTM) has introduced a 24-hour leaderboard for its dashboard, pitting the top 50 token holders as the day-long leader receives a $500 reward in the form of a $500 MUTM prize for completing the first trade at 00:00 UTC. This has led to some level of competition as the leaders showcase their faith in the project by purchasing tokens worth $2,158.51, $1,819.48, $1,250.89, and $1,052.23. Ethereum struggles as shorts continue to dismantle the price; however, the leaderboard provides the interaction and profits required in the cryptocurrency holdings.
Buy-and-Distribute Model
Mutuum Finance (MUTM) has a buy-and-distribute system in place, sending fees back to buy tokens on open markets and distribute to mtToken stakers, creating a cycle where the very actions drive price up. As the lending business booms, the effect has been to drive up demand through purchase activities rewarded by additional tokens of Mutuum Finance, further bolstering their status.
Giveaway Sparks Increased Level of Participation
Mutuum Finance (MUTM) has announced the $100,000 giveaway in order to reward 10 people $10,000 worth of MUTM tokens. This has contributed significantly to raising the stakes as the community has shown enthusiasm coupled with actual tangible rewards. This has made the community submit their entries to the competition as the whole seems to get involved towards the development of the project.
The struggles faced by Ethereum have revealed that the best cryptocurrency to invest in is Mutuum Finance (MUTM). MUTM’s yields and passion ignite the hope of 410% ROI in the altcoin’s promises. Explore this DeFi crypto today.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://mutuum.com/
Linktree: https://linktr.ee/mutuumfinance
Source: https://www.cryptopolitan.com/crypto-news-today-ethereum-eth-pressures-hits-hard-as-mutuum-finance-mutm-draws-attention/
