A popular crypto analyst has issued a warning regarding Aave (AAVE), a leading decentralized lending protocol built on Ethereum (ETH).
Trader Ali Martinez tells his 98,500 followers on social media platform social volume and positive sentiment around Aave’s native token are skyrocketing.
“With growing public attention to AAVE, a brief pullback may be on the horizon as markets often move contrary to popular sentiment.”
AAVE, the 34th largest crypto asset by market capitalization, is trading at $384.85 at the time of writing.
When it comes to Litecoin, Martinez says LTC is “irrelevant, both fundamentally and technically.” The analyst claims that Litecoin has not added anything significant to the crypto industry in terms of innovation.
“And let’s not forget: (Litecoin creator) Charlie Lee sold all his Litecoins at the top in 2017. If the creator doesn’t believe in his project enough to keep it, why should I?
If the fundamentals don’t convince you, the technical aspects should. Litecoin is trading today at the same price as in 2017. It’s been seven years without success.
In an industry defined by innovation and growth, LTC stands out as a project frozen in time. It has not reached a new all-time high since its peak in 2017 and has since consolidated in the same range.
Sure, there is potential for a short-term pump here or there, but that’s purely speculative. If I invest in crypto, I prefer to support projects that are innovative, have strong fundamentals, and have a clear future – not a relic of the past.
LTC, the 26th largest crypto asset by market capitalization, is trading at $123.07 at the time of writing.
Martinez also updates his outlook on real-world asset (RWA) project Ondo Finance (ONDO), which he says could soon face some price volatility amid growing influx of exchanges of cryptocurrencies.
“Historically, each spike in foreign exchange flows has triggered both corrections and price increases. Attention!”
ONDO is trading at $1.96 at the time of writing. The crypto asset ranked 64th by market capitalization is up almost 11% in the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may 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.
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