As Solana (SOL) prepares to break through a crucial resistance level towards a potential target, its competitor, 1Fuel (OFT), a new cryptocurrency project, secured over $15 million in investment from the Ethereum (ETH) network in January.
1Fuel, an all-in-one Web3 wallet, aims to simplify transactions on both Solana and Ethereum using one-click technology. Additional investment funds are also expected to follow.
Read on to discover why Ethereum holders chose to invest in Solana’s competitor, 1Fuel.
Solana Breaks Out Of Crucial Resistance Level: What To Expect?
Solana may still have some juice left, soaring after breaking out of a key price ceiling. This breakout sets the tone that SOL may be primed for another leg-up towards $300.
Crypto expert World of Charts highlighted this development in an X post on January 24, 2025. He noted that SOL was breaking out of a bullish pennant pattern, indicating strong underlying momentum.
Trading around $256, SOL executed a clean break from previous resistance levels, which now turned support and may be on the verge of a 17% rally to $300. With Solana buyers still active, SOL is expected to reach the identified target.
Meanwhile, Solana’s competitor, 1Fuel, is making a name for itself among Ethereum fans and attracting capital into its ecosystem. In the meantime, SOL is up 2% this week, trading at $257.
Ethereum Players Invest $15 Million In 1Fuel’s Web3 Wallet
Imagine having not to juggle multiple wallets at once or pay extra fees on cross-chain transactions. Well, 1Fuel’s Web3 wallet aims to bring this imagination to life, and Ethereum investors are front-rowing with massive investments.
1Fuel’s Web3 wallet is a game-changer in on-chain interoperability solutions. Its one-click functionality will enable users to execute transactions seamlessly across numerous blockchains.
The platform also offers users secure asset custody with its military-grade cold storage. This system secures users’ holdings offline, protecting them from unexpected online threats. Therefore, users can confidently store their assets on the platform, knowing they’re secure.
Also, 1Fuel stands out in the area of privacy. With its integrated privacy mixer, transactions are anonymized by blending them with others, ensuring they’re only privy to the owner. This privacy solution ensures that users are protected from unwanted surveillance.
As a result of these solutions, Ethereum investors are showing interest in 1Fuel, investing over $15 million in it in January alone. With them on the scene, 1Fuel’s popularity is widening.
Experts Forecasts Big Move For Ethereum
Carl Runefelt, a crypto analyst, took to X on January 24 to predict a potential Ethereum price rally, sparking excitement among investors and traders. According to him, ETH seems primed for a rebound after weeks of lackluster performances.
Runefelt noted in the post that Ethereum formed a symmetrical triangle on the 4-hour chart, similar to the one that usually precedes a breakout. Although it is still unclear what direction ETH aims to follow, this setup teases a possible move upward.
As ETH nears crucial levels within the triangle, market participants closely monitor its development. To Runefelt, a massive breakout upward could spark a bullish resurgence, while a breakdown could crash the asset.
Amid this anticipation, Ethereum investors made a considerable investment in 1Fuel’s ongoing presale. Meanwhile, ETH is moving sidewards.
OFT: New Crypto Receives Massive Investment Amid Presale
OFT’s presale progress indicates strong interest from investors in the new cryptocurrency. Over $1.5 million has been invested, and 150 million OFT tokens are now in the hands of investors.
Stages 1 and 2 of the presale have concluded, and we are currently in Stage 3. During this stage, investors can purchase OFT tokens for $0.017, with the potential to realize up to 500% return on their investment after the tokens are listed for exchange.
Since OFT is unlikely to be available at this low price again, this is a call to action for potential investors to buy the new cryptocurrency as soon as possible. Additionally, experts predict an instant 10X profit once the token goes live on exchanges later this year.
To Find Out More About The 1Fuel Presale Use The Links Below:
Website: https://1fuel.io/
Telegram: https://t.me/Portal_1Fuel
Twitter/ X –https://x.com/1Fuel_
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
