A widely followed crypto analyst says one Chainlink (LINK) rival has a lot of upside potential even after hitting a new all-time high (ATH).
Fake Trader, Altcoin Sherpa To tell Data aggregation service Pyth Network (PYTH) is currently in the midst of a price investigation, according to his 207,100 followers on social media platform X.
Cryptocurrency traders and analysts refer to the situation where a coin trades at historically unprecedented levels as price discovery.
According to Altcoin Sherpa, coins that trade in the price discovery region tend to have strong upward trends without any known resistance and are “always magical”.
“Pais: I’m probably thinking of buying this for a few reasons.
– Right near ATH, price discovery is always magical.
– (in my opinion) there is still no real, true pump for new coins.
-To be honest, the narrative sucks, but I'm also working hard on API3. ”
At the time of writing, PYTH is trading at the token's ATH of $0.6425, up more than 10% in the past 24 hours.
Next, the trader Turning Bullish on decentralized exchange protocol Injective (INJ). Altcoin Sherpa says INJ is in a long-term uptrend despite being traded extensively for over a month.
“INJ: Falling somewhere in this range is good for the next step up. Trends are on your side. This is likely to go ATH (although we don't know when) . This is a safe, secure, high-probability trade, although you probably won't get doubles right away.
Injective is trading at $34.55 at the time of writing, down nearly 5% over the past 24 hours.
Finally, the merchant suggest This means that the market capitalization of cryptocurrencies is still small compared to the valuations of the tech giants traded on the S&P 500. Altcoin Sherpa believes the market capitalization of cryptocurrencies will explode once retail investors return.
“Crypto market cap is still significantly lower than Apple's market cap. We are playing in a small playground, but we already have incredible gains/losses/opportunities. Wait until the crowds come. Think bigger.”
The market capitalization of all digital assets stands at $1.807 trillion at the time of writing.
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