A widely followed crypto analyst says Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH), appears poised to continue its hot streak.
The pseudonymous analyst known as Altcoin Sherpa tells his 234,500 followers on social media platform X that ENA is worth investing in when its price drops, as it will outperform most of the market.
“I think it continues to increase. My average is still pretty high, like $0.92 or something, but this one just beats most of the market (in my opinion). Buy all the dips you can.
ENA, the 56th largest crypto asset by market capitalization, has increased more than 8 times over the past three months and is trading at $1.18 at the time of writing. It’s also up more than 1% over the past day.
Altcoin Sherpa appears less bullish on smart contract platform Solana (SOL) in the medium term, especially compared to other top crypto assets, noting that he believes it will be outperformed by the top two digital assets in terms of market cap .
“I believe SOL will underperform both ETH and Bitcoin in the coming months. I don’t know what will happen in the long term and I still believe it is the best casino in the world. But I also have to be rational with this.
SOL is trading at $217.74 at the time of writing. The 6th ranked crypto asset by market capitalization is down more than 1% in the last 24 hours.
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