A prominent analyst says an altcoin super cycle is here and he has four altcoins in mind that are likely to outperform others.
In one Video In the New York Times, Nicholas Merten told his 489,000 YouTube subscribers that while the crypto king Bitcoin (BTC) is stagnating a bit, a new wave of altcoins is coming soon.
“My biggest focus here is on delving deeper into the bull market – which can be seen in every asset class like stocks and commodities and the forex market, and especially in a very innovative and fast-paced market like crypto – we’re going to see more liquidity, more capital and more excitement in pricing altcoins …
No matter where Bitcoin goes, Altcoins are the focus here. ”
Altcoin Dominance Rate (100-BTC.D) 3-Day Chart | Source: Nicholas Merten
The analyst is currently interested in DeFi platform Aave (AAVE), which is up 63% against Bitcoin (AAVE / BTC) in the past 12 days.
“A big break in prices here. The pair is retesting levels it has not seen since October 7th and previous lows [0,005727 BTC] in June 2021.
If the bulls push the price above that range … then AAVE will set the stage for another seismic wave that we saw in both January and May 2021. ”
AAVE / BTC 3-day chart | Source: Nicholas Merten
AAVE is currently changing hands at $ 281.43, jumping from a weekly low of $ 180.83.
Merten is also looking at the decentralized exchange Uniswap (UNI), which he believes is bottoming out in the BTC (UNI / BTC) pair after falling steadily over the past few months.
UNI / BTC 3-day chart | Source: Nicholas Merten
Next up is Yearn.Finance, which skyrocketed after the project announced a major buyback of its YFI tokens.
“One of the greatest protocols in crypto, up 62% … in the last 12 days alone.”
YFI / BTC 3-day chart | Source: Nicholas Merten
Merten ended his discussion with e-Radix (EXRD), a developer-friendly Layer 1 DeFi protocol.
“It flipped previous resistance into support, rising from around $ 0.22 to $ 0.30.
This is where momentum is built up for the next round. And we’ve seen that e-Radix as a project has a lot of potential to explode in its early stages. ”
XRD / USD 3-day chart | Source: Nicholas Merten
e-Radix starts the week on a whim and has grown more than 12% over the day to $ 0.32.
You can see the coin prices here.
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