A popular crypto analyst has issued a warning about Aave (AAVE), top decentralized lending protocol built on Ethereum (ETH).
The trader Ali Martinez tells his 98,500 followers on the social media platform X that social volume and positive sentiment around Aave’s native token are skyrocketing.
“With the crowd’s growing focus on AAVE, a brief pullback might be on the horizon, as markets often move against popular sentiment.”
AAVE, the 34th-ranked crypto asset by market cap, is trading at $384.85 at time of writing.
Turning to Litecoin, Martinez says that LTC is “irrelevant, both fundamentally and technically.” The analyst argues that Litecoin hasn’t added anything significant to the crypto industry in terms of innovation.
“And let’s not forget: [Litecoin creator] Charlie Lee famously sold all his Litecoin at the top in 2017. If the creator doesn’t believe in his project enough to hold it, why should I?
If the fundamentals don’t convince you, the technicals should. Litecoin is trading at the same price today as it was in 2017. That’s seven years of going nowhere.
In an industry defined by innovation and growth, LTC stands out as a project stuck in time. It hasn’t made a new all-time high since its peak in 2017 and has been consolidating in the same range ever since.
Sure, there’s potential for a short-term pump here or there, but that’s purely speculative. If I’m putting my money into crypto, I’d rather back projects with innovation, strong fundamentals, and a clear future – not a relic of the past.”
LTC, the 26th-ranked crypto asset by market cap, is trading at $123.07 at time of writing.
Martinez also updates his outlook on the real-world asset (RWA) project Ondo Finance (ONDO), which he says could soon be dealing with some price volatility amid increased crypto exchange inflows.
“Historically, every spike in exchange inflows has triggered both price corrections and surges. Watch out!”
ONDO is trading at $1.96 at time of writing. The 64th-ranked crypto asset by market cap is up nearly 11% in the past 24 hours.
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Generated Image: Midjourney