Crypto Watchlist For This Week
If you’re keeping an eye on the altcoin space, crypto analyst Miles Deutscher has some insights to share. Let’s take a look at the tokens that have caught his attention:
UNIBOT: A Chance to Accumulate
Despite a significant drop in value (-60%), Deutscher remains optimistic about UNIBOT. He believes the selling pressure may be slowing down and sees this as an opportunity to accumulate the token at double-digit prices.
KAVA: Positive Developments and Growing Momentum
KAVA is another token on Deutscher’s radar. With its addition to Fireblocks, its role as a gateway for institutions, and the recent launch of their decentralized exchange, KAVA is gaining momentum in the market. Deutscher has added it to his accumulation list and is closely monitoring its chart.
GALA: Internal Disputes and Centralization Concerns
Deutscher expressed concerns about GALA due to ongoing internal disputes between its founders and the centralization of its ownership. These factors could potentially hinder its performance and future developments.
PYR: Resilience and Potential for Growth
In the gaming altcoin space, PYR stands out as a strong contender. Deutscher praised its resilience and positive accumulation phase, suggesting it has the potential for growth.
Maker (MKR): Ambitious Plans and Controversy
The community is buzzing about Maker’s “End Game” initiative, which includes launching their own native chain. While this move has sparked controversy, Deutscher sees potential in MKR despite Ethereum founder Vitalik’s recent actions.
Sui Network (SUI): Explosive Growth Potential
SUI has been performing well, with a significant increase in its Total Value Locked (TVL). Deutscher sees potential for explosive growth when SUI gains momentum.
Short Solana (SOL)?
Solana has been a hot topic in the crypto community, but Deutscher points out some concerns. Negative noise surrounding upcoming FTX liquidations and the lack of liquidity in the market could amplify price fluctuations. However, Deutscher remains strategically optimistic about Solana’s long-term prospects and considers potential short opportunities in the current environment.
Hot Take: Proceed with Caution
While Deutscher provides valuable insights, it’s important to remember that the crypto market is volatile and unpredictable. Make sure to do your own research and consider the risks before making any investment decisions.
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