Prominent crypto strategist and trader Scott Melker says he’s heavily buying a crypto asset that’s flying under the radar.
In a new tweet, the analyst known in the industry as the Wolf Of All Streets tells his 172,500 followers that he’s building a substantial position in MahaDAO (MAHA).
“MAHA is one of my largest holdings, after investing in the presale and aggressively buying the recent dip. Excited that ARTH is live and they are delivering.”
MAHA is the governance and utility token that powers ARTH, a crypto asset that aims to eliminate volatility and maintain its buying power regardless of market conditions.
“ARTH is able to do this as it is firstly backed by stable collaterals, which are complete hedges of one other, so that if one asset depreciates in buying power, the other in turn appreciates, keeping the net buying power of the coin stable.”
Holders of MAHA also have a say on the future direction of the ARTH coin on top of voting rights on savings rates and stability fees.
Although MAHA has succumbed to profit-taking after climbing to an all-time high of $25.15 on January 18th, the coin is still up over 41% in the last 30 days according to CoinGecko.
In addition to MAHA, Melker is also keeping a close watch on Bitcoin.
He expects buyers to push the largest crypto asset to as high as $40,000 in the near term as a momentum indicator flashes a bullish signal.
“BTC. Pretty happy with this. Has been predictable 3 of the last 4 times that the 4 hour RSI hit oversold.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
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 losses 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/Inked Pixels
