Crypto Trader Says One DeFi Altcoin Is an “Absolute Steal”, Updates Outlook on Compound and Axie Infinity
A popular crypto trader says that the initial asset of lending and borrowing platform Aave (AAVE) could increase to around $300 by the second quarter of 2023.
Altcoin Sherpa says his 182,700 Twitter followers that buying AAVE when trading sideways could be an absolute steal given the huge upside potential.
“AAVE: In the end, this is going to be an absolute steal at these prices.
– Most of the emissions are out already/not much more sales pressure relatively
-Large TVL [total value locked] still
-Still one of the best bluechip DeFi [decentralized finance] coins
– Long history of being combat tested.
Wait for consolidation.”
At the time of writing, the decentralized finance (DeFi) altcoin is exchanging hands at $88.30, up 2% on the day.
He says the governing symbol of the decentralized lending platform Compound (COMP) also offers active traders potentially favorable returns. The crypto asset has risen 1% in the last 24 hours and is currently trading at $48.50.
“Although most DeFi tokens died since 2021, there are still many good opportunities for active traders. One example is COMP, which has had several bear market rallies.
That said, if you’re a passive investor, it’s best to just scale to BTC and ETH [in my opinion].”
The merchant is careful to buy the token of the non-fungible token (NFT) based gaming platform Axie Infinity (AXS) citing uncertainties in this crypto sector. The token is valued at $13.77 at the time of writing, a nearly 3% positive change on the day.
“AXS: Haven’t looked at this chart for a while. I think gaming is going to be very strong in the future, but not sure how [play-to-earn] the narrative will go. [To be determined] if this is accumulation or just another break before another leg down, the trend is still bearish so I wouldn’t rush in.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Catalyst Labs/Voin_Sveta
