Crypto analyst perseus.eth breaks down the tokenomics behind the recent price surge of CUDOS (CUDOS), a layer 2 scaling solution and cloud computing network. As CUDOS has risen over 18% today and 29% this week, investors are taking a closer look at what’s driving its growth.
Strong Fundamentals and Token Distribution
As perseus.eth outlined, CUDOS has a strategic distribution of tokens across seed investors, public sales, advisors, community development, reserves, and the core team. With over a third of tokens set aside for expanding the ecosystem and community, CUDOS is well-positioned for organic growth.
The project has also raised $5 million from major funds like Animoca Brands, showing confidence in its long-term vision. As user Nisha_crypto underscored, CUDOS aspires to become a decentralized oracle and computing network.
Technical Factors
Beyond the fundamentals, there are promising technical factors. CUDOS broke past resistance around $0.0117 and held support around that same level. With trading volume up 160%, there is momentum that could push the price to $0.014 in the near term.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +With strong tokenomics, backing from top investors, and bullish technical indicators, the CUDOS price surge shows the project gaining traction in its mission to become a leading Layer 2 and cloud computing solution. As more developers build on the network, CUDOS is one to keep an eye on.
You may also be interested in:
- AI Forecasts Cardano (ADA) Price Target When Bitcoin Hits $150,000
- Ripple’s XRP Ready for Takeoff: Analyst Makes Bold Prediction Despite Recent Struggles
- NuggetRush ICO Triumphs, Surpassing BONK’s Recent Market Performance
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
