{"id":11914,"date":"2022-03-27T01:11:29","date_gmt":"2022-03-27T01:11:29","guid":{"rendered":"http:\/\/egrowonline.com\/?p=11914"},"modified":"2022-03-27T01:11:29","modified_gmt":"2022-03-27T01:11:29","slug":"analyst-ethereum-metaverse-altcoin-and-smart-contract-platform-are-set-to-rally-if-bitcoin-plays-nice","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=11914","title":{"rendered":"Analyst: Ethereum Metaverse Altcoin and Smart Contract Platform Are Set to Rally If Bitcoin ‘Plays Nice’"},"content":{"rendered":"


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A popular analyst is advising caution to traders of two crypto assets while predicting rallies for a popular blockchain-based gaming ecosystem and an Ethereum competitor.<\/p>\n

Pseudonymous trader Altcoin Sherpa tells<\/a> his 170,500 Twitter followers that he\u2019s wary of the risk\/reward ratio (R:R) for ApeCoin (APE), a new crypto asset that quickly surpassed $2 billion in market cap, created by the founders of the Bored Ape Yacht Club (BAYC).<\/p>\n

\u201cBullish market structure on lower time frames still intact; I personally would be careful with this one as I don\u2019t think the R:R is that great for a trade.<\/em><\/p>\n

Investment-wise, it\u2019s also [very] high valuation [in my opinion]. That said, I would consider buying a dip.\u201d<\/em><\/p>\n

\"Image\"
Source: Altcoin Sherpa\/Twitter<\/a><\/figcaption><\/figure>\n

ApeCoin<\/a> launched on March 17th with a valuation of $7.40, surging 132% to as high as $17.17 the following day before correcting. APE is currently down 5.81% and priced at $12.43.<\/p>\n

Altcoin Sherpa is also wary<\/a> of enterprise-grade blockchain platform Fantom (FTM). He follows up on a March 19th tweet where he advised investors to reduce their risk because he doesn\u2019t think there will be a \u201cfull-on\u201d altseason or a period when altcoins significantly outperform Bitcoin<\/a> (BTC).<\/p>\n

\u201cAgain friendly reminder for you to take some off the table for your altcoins.<\/em><\/p>\n

Your $2.70 FTM buy is probably not going to get to that level, take the L on this next move up.\u201d<\/em><\/p>\n

At time of writing, Fantom<\/a> is up over 1.34% and trading for $1.34. FTM last touched $2.50 on January 21st.<\/p>\n

The pseudonymous trader next looks at Ethereum-based virtual world The Sandbox (SAND). He says its price action looks similar to fellow metaverse game Axie Infinity<\/a> (AXS).<\/p>\n

\u201cKind of looks like AXS before it mooned. You\u2019ll probably want to consider buying some metaverse stuff if AXS starts to pump hard; I think that these laggards will also do really well.\u201d<\/em><\/p>\n

\"Image\"
Source: Altcoin Sherpa\/Twitter<\/a><\/figcaption><\/figure>\n

The Sandbox<\/a> is down 2.15% to $3.37 at time of writing.<\/p>\n

The crypto strategist is also optimistic<\/a> about scaling solution protocol Near (NEAR) being able to surpass $16 if BTC also rises.<\/p>\n

\u201cI think that we go to $16 or higher in the coming weeks as long as BTC plays nice.<\/em><\/p>\n

This has chopped for 2 months, I think it expands soon.\u201d<\/em><\/p>\n

\"Image\"
Source: Altcoin Sherpa\/Twitter<\/a><\/figcaption><\/figure>\n

Near<\/a> is currently down 4.94% and valued at $12.21.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/Chaosamran_Studio<\/span><\/em><\/p>\n<\/p><\/div>\n


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A popular analyst is advising caution to traders of two crypto assets while predicting rallies for a popular blockchain-based gaming ecosystem and an Ethereum competitor. Pseudonymous trader Altcoin Sherpa tells his 170,500 Twitter followers that he\u2019s wary of the risk\/reward ratio (R:R) for ApeCoin (APE), a new crypto asset that quickly surpassed $2 billion in […]<\/p>\n","protected":false},"author":1,"featured_media":11915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[349,646,50,185,158,67,6642,487,507,213,423,1242],"class_list":["post-11914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-analyst","tag-bitcoin","tag-contract","tag-ethereum","tag-metaverse","tag-nice","tag-platform","tag-plays","tag-rally","tag-set","tag-smart"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/this-metaverse-atlcoin-could.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11914"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11914\/revisions"}],"predecessor-version":[{"id":11916,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11914\/revisions\/11916"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/11915"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11914"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}