Top Analyst Says One Group of Altcoins Can Pull Off 10x Rallies, Updates Outlook on Three Crypto Assets
Crypto trader Michaël van de Poppe is eyeing several crypto assets as well as one blockchain sector that he says is experiencing major adoption.
In a new tweet, the popular analyst presents his 584,800 Twitter followers with a chart tracking the price action of decentralized oracle network Chainlink (LINK) dating back to September of 2020.
“Let me repeat the question. If a chart looks like this, and oracles are extremely heavily needed in DeFi [decentralized finance] + LINK is the largest by a mile.
Would you be interested in selling or buying the underlying asset?”
At time of writing, Chainlink is trading even on the day and priced at $14.03.
Next on Van de Poppe’s radar is Ankr (ANKR), whose native protocol harnesses Web 3.0 to simplify cross-chain interaction and staking.
“This one is inside a range, crucial support levels beneath here.
If it breaks $0.10, then party time is ready. Would be interested in the lower levels.”
Ankr is currently down a fraction and priced at $0.07.
Last on the chart guru’s altcoin list is Reserve Rights Token (RSR), an anti-inflationary project which aggregates baskets of tokenized assets. RSR has been on a slow downward trend for several months.
Van de Poppe asks,
“If a chart looks like this, would you be interested in buying or selling the underlying asset?”
Currently, Reserve Rights Token is down 2.1% and exchanging hands for $0.013.
Van de Poppe concludes his tweetstorm by highlighting how significantly smart contract platform Avalanche (AVAX) has grown. He believes such massive adoption means layer-1 blockchain projects have the potential to increase their value tenfold.
“Daily created accounts on Avalanche reached a new [all-time high] with 500,000+ accounts being created.
Adoption? Yes. The market is growing faster and faster. It’s accelerating.
Layer-1s can easily go 10x and have a proper value at that point given the perspectives they have.”
Avalanche is up by 1.6% on the day at time of writing, valued at $77.72.
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