Altcoin: Two popular analysts, Guy and Spencer Noon from Coin Bureau, shared their latest altcoin comments. Analysts talked about the coins they think will explode. Here are the details…
- 1 Coin Bureau server: I follow these 3 altcoin projects
- 2 Highlights gold-backed cryptocurrency
- 3 Spencer Noon: Solana goes through the same process as ETH
- 4 DeFi altcoin projects are performing well
- 5 Share this:
Coin Bureau server: I follow these 3 altcoin projects
The Coin Bureau analyst is revealing a few altcoins he thinks could be the “jewels” of the next bull market. In a YouTube update, the host of the Coin Bureau known as Guy reveals that he plans to carefully ditch the expanded bear market as a major “crypto winter” is shaping up. Specific crypto projects on Guy’s radar include Avalanche (AVAX), Helium (HNT), and Aave (AAVE). The analyst uses the following statements:
I’m a huge Avalanche fan. It might be tempting to buy some AVAX if the price drops to $10. I also like Helium as a project. At some point in the future, I will try to add more to the HNT I hold. Aave is a great project and I also follow the price movements.
Highlights gold-backed cryptocurrency
The server also describes PAX Gold as a “safe haven” cryptocurrency, as the PAXG token is backed by physical gold. He says he might consider buying PAXG in the future if the world continues to get more chaotic. The Coin Bureau server reiterates its belief that the crypto bear market will continue for a while. He plans to do more research before making any future investment in the field.
If the world gets even more chaotic in the near future, I might also consider getting some more PAXGs. A while ago I sold my PAXG to buy more BTC and ETH. However, I may envisage entering PAXG again to diversify my portfolio a little more. Safe-haven assets like gold are always worth keeping in mind. PAXG is the perfect marriage between gold and crypto for me. I think it’s too early to start deciding what to buy before the next bull market. As I’ve said many times before, we will most likely be stuck in a bear market for months or even years to come.
AmkNews.com As we reported, Guy stated earlier this week that cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) make up 70 percent of his portfolio. That’s because they will “continue to be the two pillars of the crypto market for the foreseeable future,” he said.
Spencer Noon: Solana goes through the same process as ETH
On the other hand, Spencer Noon, a crypto veteran, shared his altcoin comments. Noon says that Solana (SOL) is currently going through a similar phase to what Ethereum (ETH) went through four years ago. The co-founder of crypto venture fund Variant told his 112,100 Twitter followers that Solana’s current problems won’t matter in a few years. The analyst used the following statements:
It sounds to me like SOL is going through a similar disappointment zone as ETH went through in 2018. Bear markets aren’t just about prices – there’s also sentiment. Solana has a vibrant developer ecosystem and downtime issues can be resolved. This will be evident in retrospect.
DeFi altcoin projects are performing well
Solana has experienced a series of network outages in the last 12 months that have negatively impacted the price of SOL. Solana suffered a 4.5-hour crash earlier this month after a seven-hour network outage between April 30 and May 1. Noon also argues that the best decentralized finance (DeFi) projects have proven that they can perform well in a bear market.
The biggest lesson learned from the past few weeks has been that major DeFi altcoins have performed well in extreme volatility. While TradFi projects were busy booming, most protocols on ETH worked effortlessly. The weird thing is that DeFi can be 100x the size and they still work fine.
Examples of the largest DeFi coins are Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK), Theta Network (THETA), Maker (MKR), Aave (AAVE), Phantom (FTM), The Graph (GRT), We can show THORChain (RUNE), Stacks (STX) and Loopring (LRC).
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