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Home»ALTCOIN NEWS»According to InvestAnswers, a new Solana-based altcoin is set to explode by up to 700% to ‘do it all’.
ALTCOIN NEWS

According to InvestAnswers, a new Solana-based altcoin is set to explode by up to 700% to ‘do it all’.

By Crypto FlexsFebruary 4, 20242 Mins Read
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According to InvestAnswers, a new Solana-based altcoin is set to explode by up to 700% to ‘do it all’.
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The host of the InvestAnswers YouTube channel believes that cryptocurrency projects will perform strongly as long as they run on the Solana (SOL) network.

The InvestAnswers host tells his 472,000 YouTube subscribers that decentralized exchange (DEX) aggregator Jupiter (JUP) could surge “conservatively between 4x and 8x.”

A trader’s big price predictions come from an analysis of Jupiter’s fundamentals. According to the InvestAnswers host, Jupiter is witnessing strong network activity based on trading volume and number of monthly active users.

“If this is successful, if this DEX dominates all business, the CMC charts will skyrocket. And it is currently at (position) 71 on CoinMarketCap. It was just released. 71.

If you look at all the assets over 71, none of them have this much monthly active users, this volume, or this much growth. Every single indicator blows every indicator above it out of the water. Therefore, I am confident that it will continue to rise as long as it does not collapse.”

Crypto analysts also say that Jupiter does all the work and solves many of the pain points experienced over the years using various decentralized exchanges.

“You can do swaps, perpetual contracts (Perps), leveraged trading, dollar cost averaging, cross bridges, etc. I think there are 6,000 pairs available for trading. And you can do this in real time and without friction.

“This has been my dream since 2020 after working at a decentralized exchange in the past and going through the painful experience of handling wallets and paying exorbitant fees.”

Jupiter is trading at $0.582 at the time of this writing.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured image: Shutterstock/Sergey Nivens/WhiteBarbie

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