Analyst Nicholas Merten Gives Insight on Crypto Assets
Widely followed analyst Nicholas Merten is offering his forecast on four crypto assets amid an industry-wide market rally.
Stellar (XLM) Potential
Starting with payments-focused blockchain network Stellar (XLM), Merten suggests that the XRP rival is currently at a โtypical discount range.โ
Merten believes that XLM has the potential to appreciate by around 200% against Bitcoin (XLM/BTC).
โYouโve got an opportunity here [with XLM] to have a 3X against Bitcoin, right from 0.00000200 BTC to 0.00000600 BTC. I like those kind of plays.โ
XLM is currently trading at 0.00000210 BTC ($0.14).
Decentralized Finance (DeFi) Altcoins
Moving on to decentralized finance (DeFi), Merten states that some altcoins in the sector, such as Aave (AAVE), Compound (COMP), and Uniswap (UNI), are oversold.
Aave Potential
Merten notes that Aave, a decentralized lending protocol, is in a โnice trendโ against the US dollar, indicating the potential for further upside.
AAVE is currently trading at $130.
Compound Momentum
Regarding Compound, Merten highlights its solid momentum and foundation, although he does not expect it to reach its previous highs of around $854 in May 2021.
Compound is currently trading at $87.07.
Uniswap Outlook
Merten sees Uniswap as โanother really strong play.โ He believes that Ethereum (ETH) could act as a catalyst for Uniswap and other DeFi tokens built on the Ethereum blockchain.
UNI is currently trading at $14.95. Ethereum is trading at $3,975, up about 150% since mid-October.
Hot Take: Crypto Assets Forecast
Nicholas Merten, a widely followed analyst, provides insights into several crypto assets:
XLM Potential
- Merten suggests that Stellar (XLM), a payments-focused blockchain network, has the potential to appreciate by around 200% against Bitcoin (XLM/BTC).
- XLM is currently trading at 0.00000210 BTC ($0.14).
DeFi Altcoins Outlook
- Aave (AAVE): Merten notes that Aave, a decentralized lending protocol, is in a โnice trendโ against the US dollar.
- Aave is currently trading at $130.
- Compound (COMP): Merten highlights Compoundโs solid momentum and foundation.
- Compound is currently trading at $87.07.
- Uniswap (UNI): Merten sees Uniswap as a โreally strong play,โ with Ethereum potentially acting as a catalyst for its growth.
- Uniswap is currently trading at $14.95.
Mertenโs insights provide potential investment opportunities in these crypto assets amid an industry-wide market rally.
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