eTukTuk Initiative Raises $2.4 Million in Presale

The new eTukTuk project has created waves raising an incredible $2.4 million in its first presale rounds

The whole crypto market is up this week. Large-cap equities such as Bitcoin and Ethereum are skyrocketing, but Solana (SOL) is raising eyebrows. However, the purchase pressure does not only apply to Solana.

eTukTuk Presale Accumulates $2.4 Million

The new eTukTuk initiative has made waves of its own, garnering an astonishing $2.4 million in its initial presale rounds.

eTukTuk is a large-scale project that aims to disrupt the transportation business in underdeveloped countries.

The TUK coin is the foundation for an AI-integrated ecosystem that optimizes everything from routing efficiency to vehicle upkeep.

By integrating blockchain, AI, and green technology, eTukTuk’s team intends to minimize emissions by building a fleet of electric cars called “eTukTuks.”

The team also offers incentives to TUK holders, such as yearly returns of 106% for stakeholders.

As environmental concerns and scalable blockchain solutions gain popularity, eco-friendly projects like eTukTuk may be particularly well-positioned.

And, given that the development team includes the creator and CEO of AsiaTokenFund, it’s apparent that eTukTuk’s leadership has the experience (and resources) to bring this ambitious idea to reality.

Crypto Market Turns Green After CryptoQuant CEO’s Remarks

Recent comments by Ki Young Ju, CEO of on-chain analytics startup CryptoQuant, might help to catalyze the market’s resurgence.

Young Ju projected in a Twitter post that spot Bitcoin ETF inflows would increase if the price of Bitcoin fell lower to crucial support levels around $56,000.

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#Bitcoin spot ETF netflows are slowing.

Demand may rebound if the $BTC price approaches critical support levels.

New whales, mainly ETF buyers, have a $56K on-chain cost basis. Corrections typically entail a max drawdown of around 30% in bull markets, with a max pain of $51K. pic.twitter.com/vZCG4F0Gh5

— Ki Young Ju (@ki_young_ju) March 22, 2024

According to the analytics specialist, this is the starting point for many new whale purchasers—specifically, those who have bought spots Bitcoin ETFs lately.

Should BTC retrace to that level, Young Ju believes it would spark a new wave of accumulation from more prominent players aiming to average the average dollar into their positions.

It is still being determined if the whole market is pricing according to Young Ju’s thesis or merely recovering after a few days of choppiness.

However, the rebound has returned some gloss to the bull case, positioning the market for more growth next week.

Interestingly, speculative demand is not limited to the large-cap cryptocurrency industry.