Entropy

Choise.ai

<img fetchpriority="high" decoding="async" width="1920" height="1080" src="https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon.jpg" class="attachment-full size-full wp-post-image" alt="choise.ai" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon.jpg 1920w, https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon-1224x689.jpg 1224w, https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon-768x432.jpg 768w, https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon-1536x864.jpg 1536w, https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/05/IMG_7051_11zon-150x84.jpg 150w" sizes="(max-width: 1920px) 100vw, 1920px">
<h3 id="highlights">Highlights</h3>
<ul>
 <li>Since mid-May, the CHO token has been in a descending channel, correcting its gains after a 1,292% rally driven by innovations in the Choise.ai ecosystem.</li>
 <li>Market analysts and researchers are shifting their attention to CHO, highlighting its undervalued status and significant growth potential.</li>
 <li>With the price breakout, there are five reasons to stay bullish on CHO, particularly due to new use cases for the token.</li>
</ul>
<p>As Bitcoin’s value stabilized above $67,000, CHO, the native token of the <a rel="noopener noreferrer nofollow" href="https://choise.ai/swap" target="_blank">Choise.ai</a> ecosystem and a small-cap crypto sensation that rallied over 1,200% in early 2024, faced a decline from $0.09 to below $0.06. This caused CHO’s price to enter a descending channel, indicating a continuation of the market correction following the asset’s explosive performance.</p>
<p>However, with Choise.ai unveiling another major upgrade as part of their rebrand into the B2B and enterprise sector, the token has exited this short-lived bearish pattern, with early signs of a breakout noted by regular market watchers.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-199876" src="https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1.png" alt="karasou" width="1543" height="940" srcset="https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1.png 1543w, https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1-300x183.png 300w, https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1-1224x746.png 1224w, https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1-768x468.png 768w, https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1-1536x936.png 1536w, https://coingape.com/wp-content/uploads/2024/05/image3_11zon-2-1-150x91.png 150w" sizes="(max-width: 1543px) 100vw, 1543px"></p>
<p>Notably, last week, a prominent crypto trader and analyst, Mags, emphasized that CHO’s price had overcome another negative pattern, a falling wedge, and expressed his bullish stance on the token’s immediate prospects.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-199875" src="https://coingape.com/wp-content/uploads/2024/05/image2_11zon-9-1.png" alt="mags" width="975" height="1225" srcset="https://coingape.com/wp-content/uploads/2024/05/image2_11zon-9-1.png 975w, https://coingape.com/wp-content/uploads/2024/05/image2_11zon-9-1-239x300.png 239w, https://coingape.com/wp-content/uploads/2024/05/image2_11zon-9-1-768x965.png 768w, https://coingape.com/wp-content/uploads/2024/05/image2_11zon-9-1-150x188.png 150w" sizes="(max-width: 975px) 100vw, 975px"></p>
<p>As of this writing, CHO is hovering between $0.063 and $0.079, with its market capitalization exceeding $8 million. A breakout from the descending channel could push the price to $0.088 and even higher, to $0.104, marking a potential 22-44% rally in the short term. However, some experts are even more optimistic about CHO’s upside potential, asserting that the token is currently undervalued and could surge 20x, setting a new all-time high (ATH) above $1.38.</p>
<p>According to Crypto Raven, a famous crypto influencer on X with a massive following of 97,200, the fair market value of cryptocurrencies like CHO should be at least $400-500 million.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-199877" src="https://coingape.com/wp-content/uploads/2024/05/image1_11zon-9-1.png" alt="crypto raven" width="1143" height="1138" srcset="https://coingape.com/wp-content/uploads/2024/05/image1_11zon-9-1.png 1143w, https://coingape.com/wp-content/uploads/2024/05/image1_11zon-9-1-300x300.png 300w, https://coingape.com/wp-content/uploads/2024/05/image1_11zon-9-1-150x149.png 150w, https://coingape.com/wp-content/uploads/2024/05/image1_11zon-9-1-768x765.png 768w, https://coingape.com/wp-content/uploads/2024/05/image1_11zon-9-1-96x96.png 96w" sizes="(max-width: 1143px) 100vw, 1143px"></p>
<p>They underscored their statement by highlighting that the Choise.ai ecosystem had solid fundamentals that resonated with both the established CHO community and new investors. In particular, one of the team’s recent project upgrades propelled the token up by 300%.</p>
<p>Considering the strong correlation between Choise.ai’s rapid development – with new initiatives announced almost bi-weekly – and the price of CHO, it could be a savvy move to explore the factors that support the token’s market trajectory.</p>
<h3 id="1-big-cex-listing">1. Big CEX listing</h3>
<p>In late April, CHO was introduced to BingX, a leading centralized cryptocurrency exchange (CEX) boasting a 24-hour spot trading volume nearing half a billion dollars. The CHO/USDT trading pair became accessible to the platform’s 10 million users, significantly enhancing the token’s market penetration, reliability, and liquidity. Furthermore, BingX enabled immediate CHO withdrawals, minimizing user friction and facilitating swift fund transfers.</p>
<h3 id="2-expansion-into-binance-smart-chain">2. Expansion into Binance Smart Chain</h3>
<p>Amidst its technological advancements, Choise.ai ventured into the Binance Smart Chain (BSC). With BSC’s vast network of over 440 million users and 200,000 new wallets daily, this strategic expansion boosted scalability and simplified wallet creation. Additionally, BSC’s infrastructure facilitates fund transfers and offers significant cost advantages, with transaction fees about ten times lower than Ethereum’s. This increased CHO’s accessibility and appeal for everyday use, fostering the token’s adoption in the crypto market.</p>
<h3 id="3-high-yield-staking-mechanism">3. High-yield staking mechanism</h3>
<p>Choise.ai has recently unveiled a <a rel="noopener noreferrer nofollow" href="https://choise.ai/staking" target="_blank">new staking platform</a> with APYs ranging from 30% to 100%, depending on the amount of CHO tokens staked and the lock-up period, which varies from 3 to 12 months. Notably, staking rewards are derived from an exclusive reward program powered by Vault, Choise.ai’s B2B arm, which allocates up to 20% of its revenue to incentivize CHO stakers on BSC through the specially designed VLT token.</p>
<p>Initially, only CHO owners can benefit from this staking opportunity, with VLT tokens distributed equitably based on the duration of holding CHO. With VLT priced at $1 to mitigate volatility and Vault’s revenue expected to reach $180 million by 2025, Choise.ai’s staking promises a stable and predictable increase in rewards and potential long-term value appreciation for CHO.</p>
<h3 id="4-diverse-utility-within-the-choise-ai-ecosystem">4. Diverse utility within the Choise.ai ecosystem</h3>
<p>CHO is deeply embedded in the Choise.ai ecosystem, serving a vital role in its innovations. For example, it will power Tringlr, a hybrid SMPC (secure multiparty computation) technology for creating ultra-secure digital wallets and restoring full financial control to users. Tringlr will combine decentralized storage’s robustness with centralized platforms’ user-friendliness, featuring high-level customization and recovery options. Within Tringlr’s multi-layered security framework, special security agents will verify legitimate transactions to ensure system integrity and will be compensated in CHO.</p>
<p>Moreover, Choise.ai is set to unveil its innovative layer-2 (L2) blockchain platform, Entropy, aimed at revolutionizing B2B enterprises. It will surpass traditional L2 solutions by integrating AI technologies, dubbed AI agents, for smart contract automation, establishing itself as a trailblazer in the L2 blockchain realm. Entropy will also democratize L2 blockchain access through no-code tools and an AI model marketplace. CHO holders will be the first to enjoy exclusive platform features, airdrops, and partner rewards.</p>
<p>In their latest development, Choise.ai unveiled PerpeX, a decentralized perpetual exchange with a market potential exceeding $100 trillion. Unlike existing perpetual DEX platforms, PerpeX aims to become the new industry benchmark by supporting trading across diverse markets such as crypto, forex, metals, and stocks, with leverage options from 200x to 1000x. Regardless of market liquidity, PerpeX will ensure trades are executed through sophisticated algorithms and accurate price aggregation. Additionally, Choise.ai will introduce USDT staking pools with high APYs, sharing earnings with users. CHO holders will benefit from these returns, as well as fee discounts, premium features, and governance rights.</p>
<h3 id="5-community-first-approach-and-exclusive-earning-opportunities">5. Community-first approach and exclusive earning opportunities</h3>
<p>Choise.ai employs a business model where CHO holders are the primary beneficiaries of its growth efforts. As new initiatives launch, the team introduces various incentives to reward the project community’s loyalty and help them increase their CHO holdings. For example, Choise.ai initiated a $500,000 lottery pool for those who transfer their holdings to BSC. Additionally, industry insiders speculate that APYs from staking CHO for VLT could reach 150%, and the project team will share income-boosting strategies via their <a rel="noopener noreferrer nofollow" href="https://x.com/choiseai/" target="_blank">social media channels.</a> Furthermore, Choise.ai conducts weekly community contests offering opportunities to win free CHO tokens.</p>
<h3 id="conclusion">Conclusion</h3>
<p>With numerous developments unveiled in just two months, CHO quickly overcame bearish pressure due to increasing market demand, attracting attention from influential figures in the crypto industry. As CHO accumulation intensifies, the token has a strong chance of retesting its yearly high of $0.143 soon and potentially surpassing its ATH in the long term, highlighting its currently underestimated status. In addition to BingX, CHO is currently available on several decentralized exchanges, including Gate.io, Uniswap, PancakeSwap, MEXC, and Jupiter, and can be purchased on the Choise.ai website directly.</p>
<p>The post <a href="https://coingape.com/blog/cho-price-exits-the-descending-channel-5-bullish-reasons-to-buy-the-dip/" rel="noopener noreferrer nofollow">CHO Price Exits The Descending Channel: 5 Bullish Reasons To Buy The Dip</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

CHO Price Exits The Descending Channel: 5 Bullish Reasons To Buy The Dip

Table of Contents

Coingape News Media

Outros artigos publicados em 31 de mai. de 2024

Is It Too Late To Buy BEER? BeerCoin Price Leaps 15% As Holders Pivot To This New ICO Aiming For ...

Paraguay seizes 2,738 ASICs as power theft crackdown continues

Toncoin (TON) Surges as Whales Accumulate – What’s Behind the Rally?

Ethereum whales dive into ETH at $3.7K – Will the market follow?

Crypto Market Update: Shiba Inu Whale Purchase Points to Investor Confidence

Bitcoin firm, Texas university partner for $5M endowment fund

Join our free newsletter for daily crypto updates!