Widely respected analyst Nicholas Merten has offered his outlook for four cryptocurrency assets amid an industry-wide market rally.
Starting with payments-focused blockchain network Stellar (
According to Merten, XLM could rise by around 200% compared to Bitcoin (XLM/BTC).
“Here (via XLM) you have the opportunity to win 3X on Bitcoin from 0.00000200 BTC to 0.00000600 BTC. “I like plays like that.”
XLM is trading at 0.00000210 BTC ($0.14) at the time of this writing.
Turning to decentralized finance (DeFi), the analyst says some altcoins in the sector such as Aave (AAVE), Compound (COMP), and Uniswap (UNI) are oversold.
At Aave, Merten said the decentralized lending protocol is in a “good trend” against the US dollar, indicating there is room for further upside.
AAVE is trading at $130 at the time of this writing.
Crypto analyst at Compound says:
“Good solid momentum. A solid foundation has been built on some of these plays, which is a far cry from the previous highs of May 2021 (~$854)… And I’m not saying it’s going to go all the way up.”
At the time of this writing, Compound is trading at $87.07.
UNI is “another really strong play,” Merten said, referring to decentralized exchange Uniswap. Ethereum (ETH) could serve as a catalyst for Uniswap and other DeFi tokens built on the second-largest blockchain by market capitalization, according to a cryptocurrency strategist.
“As Ethereum starts to rise in the market as well, I think some of these plays may actually start to rise.”
UNI is trading at $14.95 at the time of this writing. Ethereum is trading at $3,975 at the time of this writing, up about 150% since mid-October.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
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.
Image created: DALLE3