A widely followed crypto strategist is naming one low-cap altcoin that he says could explode in the coming weeks.
GMX is a decentralized spot and perpetual crypto exchange that offers low swap fees and zero price impact trades.
According to The Crypto Dog, all fundamental metrics look healthy for GMX as it trades in a trend that defies the general crypto markets.
“The chart looks so good aesthetically and maybe for continuation too. My hunch says GMX trades in the $60s in <2 weeks.
After staring at this chart and seeing new users, average volumes and revenues, it sounds right.”
The Crypto Dog also says that he’s heavily loading up on GMX as he believes the under-the-radar altcoin is the top long-term play in the crypto markets right now.
“I had to send another withdrawal through on over to Arbitrum and buy another $250,000 worth of GMX. This GMX price is higher now than all of my previous buys, but the fundamentals have gotten significantly stronger to justify it. Happy to take a better deal at a higher price...
GMX comprises the largest portion of my net worth, and I just bought more. I think it’s the best long-term and accessible play in crypto right now.”
At time of writing, GMX is swapping hands for $40.00. A move to the analyst’s target of $60 represents an upside potential of 50% for GMX.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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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/Bruce Rolff/Natalia Siiatovskaia