Crypto analyst Nicholas Merten says that one sector of altcoins will likely lead the digital asset markets in terms of strength and performance moving into next year.
In a new strategy session, Merten tells his 487,000 YouTube subscribers that he’s looking at the Metaverse Index against Wrapped Ether (MVI/WETH) as a proxy of the crypto sector’s performance against the second-largest cryptocurrency.
“We’ve seen here that overall, the metaverse is one of the few key sectors that’s actually continuously, over the past couple months or really the last second half of the year, outpacing Ethereum.
That’s the kind of stuff that I want to look for as an investor. That’s the kind of stuff I want to buy into on a discount, and we can see that every time we get nice pullbacks here, we build the base, we start moving higher.”
The Metaverse Index (MVI) puts a basket of leading tokens in the metaverse sector within one trading instrument. According to Merten, buying the MVI is a great way to get exposure to metaverse assets.
The MVI is currently trading at $236.
Besides the metaverse, Merten says he is also betting on decentralized finance (DeFi) and non-fungible tokens (NFT) as a close second.
“I think the metaverse is definitely number one. Second off here would probably be on par with DeFi, NFTs. All three of which I think have a pretty substantial chance especially even against Ethereum to potentially keep up or perform just as well. It’s good to have diversification no matter what but place your bets more leaning towards what you believe.”
IDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
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 loses 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/studiostoks