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A prominent analyst says he is currently bullish on the trajectory of two Ethereum (ETH) challengers.
In a new strategy session, the InvestAnswers host says that he is “super bullish” on LUNA as Terra plans to switch from an algorithmic stablecoin project to a powered one, with a portion in Bitcoin ( BTC).
“I love LUNA. I’ve almost become super-optimistic about LUNA because of their new plan. The move from an algorithmic stablecoin to a Bitcoin-backed or even partially Bitcoin-backed stablecoin can be an absolute game changer. The sky is the limit.”
Recently, Terra co-founder Do Kwon announced that they will be buying billions of dollars worth of BTC to reserve for their TerraUSD (UST).
According to the analyst, Ethereum competitor Solana (SOL), is also showing metrics that suggest it is undervalued. As long as Ethereum keeps the altcoin market going, SOL will eventually remove the resistance around $150.
“This is the best SCP (smart contract platform) out there, even though it’s only in beta mode and crashes in September, it’s completely undervalued. Each of the 19 figures is melodramatic. Total Value Locked (TVL) is not bad but not as strong as other projects because of different incentives… But I think it’s only a matter of time. If Ethereum goes up to $4,000, I definitely see Solana going high, fast and far, but you never know what could happen. AVAX could hit $200. LUNA could hit $250. SOL could hit $150…
So right now my favorite coin would be SOL number one and LUNA number two.”
Terra is changing hands at $95.3 at press time, up 3% on the day while Solana is trading for $97.7, up 7% in the same time frame.
LUNA/USDT. Source: TradingView
SOL/USDT. Source: TradingView
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#Top #analysts #price #targets #LUNA #SOL