A prominent crypto strategist and trader says he’s keeping his eyes peeled on two low-cap coins.
Josh Rager says he’s bullish on the new crypto projects, which were both created by a pseudonymous figure known as Bill Drummond.
You want to know why I'm so bullish on $XAMP and $TOB
The founder @burn_the_state is for the people and recently went into detail on this topic
With a focus to steer cryptocurrency back in the right direction: the direction of innovation and freedom
(unlike many projects) pic.twitter.com/M1Vta0M8nJ
— Josh Rager ? (@Josh_Rager) August 23, 2020
Tokens of Babel (TOB) is an Ethereum-based asset that introduces a new twist to coin burns called rebasing. The idea is to burn TOB tokens whenever certain conditions are met while maintaining the holder’s share of the total supply. Holders who hold 5% of the supply will always own 5% of the supply but the number of tokens in circulation is decreased, making it more expensive for new holders to purchase TOBs.
As for Antiample, the token’s unique use case is to see the impact of deflationary forces by constantly destroying coins. If the value of XAMP decreases, the supply of the crypto asset is reduced in an effort to drive the value of the coin.
From a technical perspective, Rager says he believes that both XAMP and TOB are poised to print new all-time highs.
$XAMP and $TOB about to get exciting
You can now yield farm XAMP and TOB (provide liquidity) on Uniswap to get $ASH
I sense new all-time highs in the future https://t.co/KQAPGByRuf pic.twitter.com/0YHsshgPhB
— Josh Rager ? (@Josh_Rager) August 20, 2020
Meanwhile, the crypto trader says he believes that Chainlink will regain its footing as long as it can reclaim a key level.
“I do want to eventually see it close above this area around $16.60 and if it can move on up there, close above there, I think it’s going to continue to move on up.”
In addition to Chainlink, Rager is bullish on Bitcoin (BTC) and Ethereum (ETH). He expects them both – along with Zcash (ZEC) and the small-cap coin YF Link (YFL) – to resume their uptrend as long as Bitcoin can remain above $10,500.
“Happy with this weekly [Bitcoin] close – prior resistance that held for multiple years. Now holding as support so far. If the daily can stay above $10,500 and weekly about $11,500 – should be a continuation to upside if so.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
