The crypto market is indulged in a volatile trade today as coins switch between red and green. BTC is steering clear of $41K, ETH has slid $3.2K. However, other alts on the chart are trading in green with minimal volatility.
While the broader crypto markets trade sideways, a famous crypto strategist claims that four altcoins, including Polygon and Curve, have the potential to print 10x returns this year.
Despite its continued fall from the all-time high of $2.92, Jason Pizzino informs his 254,000 YouTube followers in a new strategy session that blockchain scaling solution Polygon is still in a bull trend.
He opines that the dip in prices should be viewed as an opportunity to enter a position and says he sees it as a bull market.
“So I still see this as a bull market: higher lows, that’s pretty straightforward. Fifty percent [Fibonacci] level about $2.20.”
At the time of writing, MATIC is trading at $2.08 down by 3.9% in the last 24 hours. The resistance on the upside is at $2.2 and the support is at $2
Curve Finance (CRV)
CRV, the governance token of Curve Finance, a stablecoin-focused decentralised exchange, is another coin on the trader’s list.
He explains that Curve has a total value locked of $24 billion, hence the market cap is 0.1 times the total value locked. So, market capitalization is around $2.4 billion, with a total value of $24 billion locked up.
Hence he believes there will be a significant catch-up game here to bring Curve’s value closer to the value locked in at the moment.
At the time of writing, CRV is trading at $4.92 down by 3.7% in the last 24 hours. The support on the downside is at $4.8 and the resistance is at $5.23.
Sushi (SUSHI), the governance token of the decentralised exchange SushiSwap, comes next. Sushi’s comparatively low market valuation, according to Pizzino, puts it in a position to earn exponential returns.
He notes that Sushi has a market valuation of $1 billion and is completely diluted at $2 billion. So $10 billion seems reasonable for a 10x. And once these things get going, we have no idea where they will end up. They just keep moving on, he adds.
At the time of writing, SUSHI is trading at $6.91 up by 1.1% in the last 24 hours. The support is at $7.45 and the resistance is at $7.2.
Yearn.Finance (YFI), a decentralised finance platform that drives an automated yield farming method, is the fourth crypto asset. According to Pizzino, YFI’s basics appear to be strong, while the technicals show promise.
“The total value locked also looking good: $5.7 billion with a market cap of $1.4 [billion].We’re starting to see higher lows form as well.”
According to the crypto researcher, YFI will cross $100,000 before BTC reaches the six-figure mark.
At the time of writing, YFI is trading at $34,555 up by 3.2% in the last 24 hours. The token traded in the range of $33,423-$36,680 in the last 24 hours.