A widely-followed trader and analyst is looking at three altcoins that he says have managed to sustain their bullish momentum as Bitcoin and the broader crypto market succumbs to profit-taking.
In a new tweet, the crypto strategist known in the industry as Flood tells his 127,000 followers that he’s buying smart contract platform Solana (SOL), automated market maker (AMM) PancakeSwap (CAKE), and stableswap AMM Nerve Finance (NRV) as the three coins have maintained their strength amid the market correction.
“It’s less important to pick the best performing asset when a monkey can throw a dart and every coin is ripping up. It’s far more important to pick the best performing coins when the market on average is sluggish. This way you compound super hard when you rotate. CAKE, SOL, NRV of course, as well.”
Solana is in the midst of a massive bullish rally over the last 14 days, up more than 58% from $27.65 on April 12th to $45.24 at time of writing.
PancakeSwap is also in green territory over the last two weeks with 35% gains from $25.21 on April 12th to its current price of $34.04.
Nerve Finance (NRV), the crypto asset built on the Binance Smart Chain, has gained nearly 466% in the last 30 days according to CoinGecko.
In addition to SOL, CAKE, and NRV, Flood is also accumulating Ethereum (ETH) and privacy-centric coin Monero (XMR).
As for Bitcoin, Flood says he also bought the dip on the world’s biggest crypto asset by market cap.
“This would look pretty hot if they wick this. I guess I’ll help them out and market buy here.”
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/Aiolhoz
