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.
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Featured Image: Shutterstock/Roman3dArt/Dario Lo Presit