In September 2023, significant changes occurred in the cryptocurrency market: despite sharp outflows from Ethereum, the new project Mutuum Finance demonstrated impressive results in its presale.
Declining Interest in Ethereum
In early September, Ethereum faced massive outflows from ETFs, leading to a loss of over $900 million in a week. Major players like Grayscale and Fidelity withdrew hundreds of millions, indicating a cooling interest in this cryptocurrency.
Analysts note that Ethereum is near critical price levels, and if selling pressure continues, a drop to $3,550 may occur.
Mutuum Finance Presale
Mutuum Finance has raised over $15.5 million in its presale, attracting more than 16,200 holders. The project, currently in the presale stage, is a DeFi platform for lending and borrowing, which piques investor interest amid the loss of enthusiasm for more established cryptocurrencies.
Platform Functionality of Mutuum
Mutuum Finance offers two models: Peer-to-Contract (P2C), where users can deposit tokens and earn interest, and Peer-to-Peer (P2P), allowing users to set their own loan terms. The project also emphasizes security by passing smart contract audits and implementing a bug bounty program.
Thus, despite current market challenges, Mutuum Finance showcases robust performance and confident development, which may attract interest from both retail and institutional investors.
