Ethereum Rivals LUNA And Solana Are Undervalued, Crypto Analyst Says | CryptoGazette
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The crypto market exploded, and the most important coins out there are trading in the green today. At the moment of writing this article, BTC is also trading in the green and the king coin is priced at $43,129.
It’s been just reported that there is a popular crypto analyst who says he’s now optimistic on the trajectories of two Ethereum (ETH) challengers.
In a new strategy session, the host of InvestAnswers made sure to highlight the fact that he’s “super bullish” on LUNA because of Terra’s plans to flip from an algorithmic stablecoin project to one that’s backed, in part, by Bitcoin (BTC).
“I love LUNA. I have become almost super bullish about LUNA because of what they have planned. Flipping from an algorithmic stablecoin to a Bitcoin-backed or even partially Bitcoin-backed stablecoin could be an absolute game changer. I mean the sky’s the limit.”
Solana is undervalued as well, analyst says
According to the analyst, Ethereum competitor Solana (SOL) is also flashing some metrics that show it is undervalued.
He explained that as long as Ethereum keeps altcoin markets afloat, SOL should ultimately take out its resistance around $150.
“This is the best SCP (smart contract platform) out there, despite it just being in beta mode and having its problems back in September, but it’s completely undervalued. Every single metric, 19 metrics are bombastic. One is bad and that’s total value locked (TVL), not bad but not as strong as others because they don’t give the same level of incentives…”
He also said: “But I think it’s only a matter of time. If Ethereum runs to $4,000, I definitely see Solana going high and fast and far, but you never know what could happen. Avalanche could hit $200. LUNA could hit $250. Solana could languish around $150…So right now my preferred piece would be Solana number one and LUNA number two.”
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