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”
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