In a recent report by CNBC, Circle's global head of policy, Dante Disparte, announced that the UK will be launching a stablecoin in a few months to come. Following this, the crypto market is bound to welcome a surging interest from new investors into the stablecoin network.
Meanwhile, as this latest update takes full effect, positive sentiment towards stablecoins, including Circle's USDC, is likely to rise. In another event, a new MemeFi platform called Cutoshi (CUTO) is pulling massive traction in the presale market. This meme coin is poised to take advantage of the possible aftermath of the new development.
Cutoshi (CUTO) is a new meme coin in the presale market whose success has drawn attention from retail and whale investors. Its unique ecosystem features a decentralized exchange (DEX) where users can swap cryptocurrencies across blockchain networks. In addition to this, Cutoshi brings a token farming model to its users, allowing them earn token rewards when they participate in community-based activities.
This new meme coin has also gained recognition for its strong fundamental principles which follows Satoshi Nakamoto's ideal for blockchain, the popular Chinese Lucky Cat known for goodluck, success, prosperity. Meanwhile, Satoshi's ideals entailed privacy, decentralization, and monetary empowerment. With these core values at play, Cutoshi also offers its network users a DeFi-Learning Hub for educational purposes.
Currently, Cutoshi's native token, $CUTO, is selling for $0.022 in the second stage of its presale after selling out its first presale stage at a price of $0.015. Its presale revenue has now surpassed $550k as more investors are rushing to invest in its MemeFi platform which is primed for a substantial rise in engagement and adoption.
Stablecoins are gaining more popularity as the UDSC issuer, Circle, announced that the UK will be launching a new stable coin in the next few months, as opposed to the "few years" misconstrued interval. This news also drives more positivity to Circle's USDC as it strives to gain more awareness as USDT.
Dante Disparte, the global head of policy for Circle, particularly announced that the United Kingdom is still a few steps behind, compared to the European Union which has been enforcing the launch of MiCA-compliant stablecoins. As investors anticipate this new British dollar-pegged stable coin, positive sentiment brews for USDC token to gain more awareness.
Source; CoinMarketCap
As seen in the chart above, the USDC token has been doing a good job of tallying with the US dollar. As the crypto market grows, Circle's involvement and proactiveness in enforcing new digital assets, especially stablecoins is bound to increase adoption to USDC token.
Leading the meme coin market in market capitalization is a difficult feat, but for Cutoshi it may be possible. Owing to its peculiar ecosystem which merges meme coin's allure and community support with a DeFi marketplace.
Cutoshi's native token, $CUTO, has a deflationary mechanism that is bound to increase its scarcity overtime resulting in a surge in its value and demand. This could contribute strongly to the possibility of Cutoshi leading the meme coin market before 2030.