A widely known cryptocurrency analyst says a little-known altcoin has massive upside potential as he updates his outlook on smart contract platform Solana (SOL).
Pseudonym: Cryptocurrency Strategist Altcoin Sherpa says Beam (BEAM), an open-source gaming blockchain, has “big upside” potential in 2024, according to social media platform X, which has 202,300 followers.
“BEAM: A good buy (I think)…
I will keep this until 2024. Big upside and my play for this cycle (albeit with other smaller bets).”
BEAM is trading at $0.021 at the time of writing, up 8.34% in the last 24 hours.
Altcoin Sherpa goes on to say that he: purchase Solana, a hot altcoin despite the belief that now might not be the right time to do so. Ethereum (ETH) rivals will continue to rise in 2024, according to strategists.
“SOL: Probably not a good place to buy. But screw it. I’m looking to add more to the stack. I’ll buy it and put it in my cold wallet so I can be rich in 2024.”
According to Sherpa, watching His optimistic claims were confirmed as first-time cryptocurrency users encountered Solana’s blockchain.
“What furthered my thesis on SOL was watching retail people who were new to crypto for the first time interact on the chain. ETH was not possible and even the others were sometimes quite expensive. If you’re working with $100, you can get much more done with a cheaper chain.
Of course, this paper has been out for a while and is widely known, but it was different when I first saw it in front of my eyes. You can pay a lot more for a cheap chain that isn’t dead.”
Solana is trading at $122.64 at the time of this writing. It is up 7.73% over the past day, marking a massive gain of over 1,000% since the beginning of the year.
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