A closely followed cryptocurrency strategist is updating his outlook for hot altcoins amid a cryptocurrency market correction.
Pseudonymous analyst Altcoin Sherpa says The 215,800 followers of social media platform
“ONDO: Still one of the best performing coins and remains at the top. He is still the leader of RWA today. I think this looks strong. But it’s not a very active trade. “For now, it’s better to just buy and hold.”
ONDO is trading at $0.839 at the time of this writing, up more than 920% from its low of $0.082 on January 18th of this year.
Next is the merchant predict Layer 1 smart contract platform Sui (SUI) will turn bearish due to the upcoming token unlock. SUI’s next unlock is in late May, when the cryptocurrency project plans to distribute 999.23 million tokens to five stakeholders.
Unlocking is often perceived as bearish given the new salable supply.
Altcoin Sherpa says:
“It doesn’t matter how good/strong the coin is from a technical perspective. Once investors start receiving tokens, SUI will supply nuclear weapons to Hades. But this one has an outlet pump, so you can buy a green box, wait for it to be a mini pump, and then short it out.”
SUI is trading at $1.11 at the time of this writing and is down more than 2% in the last 24 hours.
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