When a token catches the eye of crypto analysts and influencers, each with tens of thousands, even hundreds of thousands of followers, you sense something brewing. And for $CHO, it’s not just one thing cooking, since it’s been making waves for months now. With constant announcements fueling its value and utility, the crypto community simply couldn’t overlook it. Going back just a month, $CHO has seen a flurry of exciting events, but the latest developments hint at a rocket-like ascent. What exactly are these developments? What are the crypto bigwigs saying about $CHO? And do technical indicators support a bullish trend or signal caution?
What Sparked the Buzz Around $CHO?
In addition to the previous accomplishments, including:
- introduction of the revenue-sharing incentive through the VLT token,Â
- launch of $CHO on the BSC network, and creating a $500,000 reward pool for transferring $CHO to Binance Smart Chain (BSC),Â
- getting $CHO listed on BingX,
- unveiling plans for building an ultra-secure crypto wallet using SMPC technology, Tringlr,Â
all of which have significantly increased the token’s value and utility, now, there are some fresh updates within the Choise.ai ecosystem that are expected to drive $CHO ahead.
Entropy, Choise.ai’s L2 Blockchain to Be Launched Soon
Choise.ai is about to launch Entropy, an AI-powered L2 solution tailored to enterprises. It will address numerous L1 issues like high gas fees, efficiency, flexibility, and scalability, making it possible for millions of new users to join Web3. Entropy will stand out among other L2s, too, by introducing AI agents that handle smart contract writing, optimization, and execution, thereby reducing errors, saving time, and making operations more autonomous.
Entropy will be a no-code environment, allowing anyone, even the ones with no prior coding knowledge, to build in Web3. Yet, one of the most distinctive features is the AI marketplace, where developers will be able to sell their AI models to users from various industries.
As the core of all Choise.ai initiatives, $CHO will be integrated into this L2, offering numerous perks to holders, such as exclusive access to platform features, airdrops, and partner benefits and rewards.
PerpeX, Multi-Asset Perpetual Trading Platform Going Live in One Month
None of the existing perpetual DEX ecosystems and other trading platforms offer everything a user needs on a single platform. However, PerpeX seems likely to set a new industry standard. First, it will support trading across various markets, crypto, forex, metals, stocks, and more, with leverage ranging from 200x to 1000x. No matter the market’s liquidity, PerpeX will make the trade happen.
Its sophisticated algorithms will execute trades automatically, aggregate the most accurate prices using a price oracle, and offer advanced trading tools, monitoring, and risk management features. To attract liquidity to the platform, Choise.ai will implement USDT staking pools with high APYs, sharing part of the earnings with users as PerpeX gains volume and demand.
CHO owners will, as expected, receive special benefits, including increased earnings for staking CHO and providing liquidity to the platform, up to 50% fee discounts, access to premium features, and governance rights. With an estimated total market potential of over $100T, this revenue-sharing model offers promising returns for platform users.
The Launch of the Staking Platform
Some time ago, the Choise.ai team announced a special reward program in which Vault would allocate up to 20% of its B2B revenue to incentivize $CHO stakers via the VLT token. This initiative aimed to allow anyone staking $CHO on BSC to earn between 20% and 150% in VLT. Recently, Choise.ai introduced this new $CHO/VLT staking platform. With an impressive APY of up to 100%, the added VLT incentive makes staking even more attractive.
Rumor has it that staking APY could go up to an impressive 150% in some cases. If you want to be among the first ones to unlock this opportunity, follow Choise.ai on X and check their newsfeed thoroughly.
Source: X
VLT is exclusive to $CHO stakers, not tradeable on exchanges, and has a fixed value of $1. The earlier you buy and stake $CHO, the more VLT tokens you receive, which contributes to a fair and equitable distribution.
While each component of the Choise.ai ecosystem brings massive value, it’s also important to see how the crypto community responds, whether they embrace these innovations or overlook them.
Analysts and KOLs See $CHO as an Undervalued Gem
While you can make gains on the crypto market almost daily with established coins, most crypto traders are actually hunting for tokens that can deliver 20x returns or more.
Our research has revealed that influential figures with over 50,000 followers on X are now disclosing their investments in $CHO. Here’s exactly what they say.
Sjuul, who has 443,000 followers on X, is passionate about crypto education and Web3 knowledge, but he occasionally shares his thoughts on altcoins and promising tokens. Last week, he subtly expressed his bullish stance on $CHO, suggesting the token’s price action should continue positively. He posted this right after Choise.ai announced their new partnership with Venom Foundation, which aims to advance innovation in marketing, technology, infrastructure, and community engagement.
Source: X
Elite Crypto is a data-driven on-chain storyteller and, as he likes to describe himself, more of an investor than a trader, with almost 65,000 followers on X. The fact that he’s openly sharing that he added $CHO to his portfolio speaks volumes. He also provided a brief technical analysis, showing a chart that clearly displays an uptick for $CHO from the level where he bought in.
Source: X
While most traders anticipate an upside for $CHO from these levels, some, like JetStart, are particularly bullish, predicting the price to rise to $0.20 or even beyond. JetStart became super bullish after Choise.ai announced they were building their own blockchain. And, with the team delivering additional updates in this two-week period, we can only speculate that these developments will further support and boost the price.
Source: X
To sum it up, $CHO is seen as an underrated asset with massive potential, thanks to new listings, partnerships, and product launches. These, all together, are likely to boost CHO’s liquidity and market presence, and draw the attention of major investors. However, despite the significant influence of news and events on crypto markets, it’s still important to analyze the charts and consider their predictions.
Technical Indicators Confirm: $CHO Rebound Imminent
Looking back 7 days, $CHO has been trading in the green, with its price up almost 7%. However, does this immediately imply that the trend will continue upward for the token? Let’s explore what we can expect for the token’s price in the short, mid, and long term.
Source: CoinMarketCap
Looking at the current 4-hour chart for $CHO, we can see the moving averages indicate promising bullish potential. The price is currently trading above the 20 and 50-period EMAs, signaling a short-term upward trend. This positioning often precedes further upward movement, suggesting that in the short term, we might see the price test and potentially break resistance levels around $0.075.
In the mid-term, the convergence of the 100 and 200-period EMAs, with the price hovering near these critical moving averages, again, indicates a potential breakout scenario. If this scenario plays out, we could see it challenge the $0.081 level and establish a new higher support base.
Now, the long-term forecast also suggests upside potential, with the alignment of these moving averages setting up for a golden cross. If the current momentum continues and the golden cross forms, $CHO could be on a trajectory to reach the $0.092-$0.10 range, reflecting robust growth and investor confidence.
Overall, the moving averages provide a strong foundation for a bullish outlook on $CHO across short, mid, and long-term perspectives, suggesting a favorable environment for potential investors.
Source: TradingView
Observing the RSI for $CHO on the 4-hour chart, it’s sitting comfortably above 55, showing strong buying interest (without being overbought), the potential for more upward movement, and confirming that we might see a breakout above $0.075 soon.
Source: TradingView
Summary
It’s quite clear why $CHO has been the talk of the crypto town for the past months, especially considering that everything indicates it will garner even more attention with the actual release of Entropy and PerpeX. Also, we can’t rule out the possibility of the team dropping some bullish news in the meantime, potentially driving $CHO’s value higher. Considering all of this, $CHO at these levels seems to be trading at an advantageous price and anyone who’s into long-term gains can consider betting on it. Plus, the $CHO staking initiative for VLT tokens that only increases the appeal and doubles the benefits for buyers.
