A veteran crypto trader says that one digital assets sector is about to pull off an under-the-radar repeat of its 2021 rallies.
The pseudonymous trader known as Bluntz tells his 304,000 followers on the social media platform X that the decentralized finance (DeFi) sector is “de-risked” following news that the crypto project linked to President-elect Donald Trump has accumulated tokens.
[adinserter block="1"]Says Bluntz,
“The president is accumulating DeFi coins and is making his own DeFi company.
I think it’s safe to assume DeFi is now de-risked and due for a 2021 repeat.”
Crypto intelligence platform Arkham recently reported that Trump’s World Liberty Financial (WLFI) platform purchased $50 million worth of DeFi coins, including Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).
Taking note of WLFI’s purchases, Bluntz says he’s bullish on the decentralized stablecoin protocol Ethena (ENA), noting that traders are shorting the altcoin.
“The president is buying ENA and funding is negative -0.05.
I seriously wonder what goes through people’s brains sometimes.
Who is shorting that?”
Similarly, the trader is bullish on AAVE after a very lengthy accumulation period. He says that a shot to all-time highs for AAVE is now a near-certainty.
“Aave has an amazing high time frame chart here in my opinion.
It accumulated for 833 days of hell, that’s a long-a** accumulation and is now well and truly in the markup phase.
There is no way this isn’t seeing all-time highs.
The president-elect is literally green-lighting DeFi with his actions and he’s not in office yet.
Skate to where the puck is going.”
At time of writing, AAVE is worth $367.87.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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 losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ktsdesign
