Analysis

Trader Says Altcoin That’s Up over 8x in Under Three Months to Outperform Market, Updates Outlook on Solana

Published

10 months ago

December 17, 2024

A extensively adopted crypto analyst says Ethena (ENA), an artificial greenback protocol constructed on Ethereum (ETH), seems poised to proceed its red-hot streak.

The pseudonymous analyst referred to as Altcoin Sherpa tells its 234,500 followers on the social media platform

“I believe that is solely going to go greater. My common remains to be fairly excessive, like $0.92 or one thing, but it surely nonetheless simply outperforms a lot of the market [in my opinion]. Purchase all of the dips you’ll be able to.

Ge1fPzJWUAAlPo9 — Supply: Altcoin Sherpa/X

ENA, the 56th largest crypto asset by market cap, has risen greater than 8x up to now three months and is buying and selling at $1.18 on the time of writing. The worth has additionally risen by greater than 1% up to now day.

Altcoin Sherpa seems much less optimistic about sensible contract platform Solana (SOL) within the medium time period, particularly in comparison with different high crypto property, noting that he believes it should outperform the 2 largest digital property by market capitalization.

“I believe SOL will underperform each ETH and Bitcoin within the coming months. I do not know what is going to occur in the long term and I nonetheless consider that is the perfect on line casino on this planet. However I additionally should cope with it rationally.”

Gex4dG4WIAAhWY6 — Supply: Altcoin Sherpa/X

SOL is buying and selling at $217.74 on the time of writing. The sixth-ranked crypto asset by market capitalization is down greater than 1% up to now 24 hours.

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