A widely followed cryptocurrency trader and analyst is predicting that an Ethereum competitor will hit a new all-time high, while another altcoin will have an explosive rally.
The pseudonymous crypto analyst and trader known as Smart Contracter says that the native token of layer 1 (L1) blockchain, Terra (LUNA), could appreciate by about 66% from the current levels and hit a new all-time high (ATH).
“The L1 runs aren’t over yet imo [in my opinion], started branching off into some others lately with $luna being one. ATH and $70 or so [definitely] on the table.”
Layer 1 blockchains are decentralized networks where the protocol rules can be altered directly to improve capacity and speed.
LUNA is trading at $42.01 at the time of writing.
Smart Contracter also says that the governance token of decentralized finance platform Curve (CRV) is primed for a “glorious” breakout after trading in a narrow range for most of the year when paired with Bitcoin (CRV/BTC).
“CRV/BTC has been basing for an entire year, the longer the base the higher in space.
this breakout will be glorious”
Earlier in the week, the pseudonymous crypto analyst revealed that he had purchased Curve Dao Token, which is trading at $3.97 at time of writing.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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 assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Roman3dArt/Dario Lo Presit
