Injective

Sherpa

when

Chainlink

Pyth Network

<div class="dailyhodl">
 A widely followed cryptocurrency analyst says that one Chainlink (LINK) rival has a lot of upside potential even after printing a fresh all-time high (ATH).
 Pseudonymous trader Altcoin Sherpa tells his 207,100 followers on the social media platform X that data aggregating service Pyth Network (PYTH) is now in the midst of price discovery.
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 Crypto traders and analysts refer to price discovery as a situation where a coin trades at levels never seen before in its history.
 According to Altcoin Sherpa, coins that trade in price discovery territory are “always magical” as they tend to go on a strong uptrend with no known resistance left.
 “PYTH: I’m looking at maybe buying this for a few reasons: 
 -Right near ATH, price discovery is always magical. 
 -Hasn’t had a true, true pump yet (in my opinion) for a new coin. 
 -Narrative kind of sucks, to be honest, but API3 is also moving hard.” 
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GGKELlsXcAAid6q?format=png&amp;name=4096x4096" alt="Image" width="2165" height="1179">
 <figcaption class="wp-caption-text">
 Source: Altcoin Sherpa/X
 </figcaption>
 </figure>
 PYTH is trading for $0.6425 at time of writing, the token’s ATH and up more than 10% in the last 24 hours.
 Next up, the trader is turning bullish on the decentralized exchange protocol Injective (INJ). Altcoin Sherpa says INJ remains in a long-term uptrend even though the coin has been trading in a wide range for more than a month now.
 “INJ: getting in somewhere around this range is good for the next leg up. The trend is your friend; this one is likely to go to ATHs (don’t know when though). This is one where you’re probably not going to get a quick 2x but it’s a safe solid high probability trade.”
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GGLhmo5XAAASUXA?format=jpg&amp;name=4096x4096" alt="Image" width="2165" height="1179">
 <figcaption class="wp-caption-text">
 Source: Altcoin Sherpa/X
 </figcaption>
 </figure>
 Injective is trading for $34.55 at time of writing, down nearly 5% in the last 24 hours.
 Lastly, the trader suggests that the total crypto market cap is still small compared to the valuation of tech giants trading in the S&amp;P 500. Altcoin Sherpa sees the total market cap of crypto exploding when retail investors return.
 “The total crypto market cap is still significantly lower than Apple’s. We are playing in a small playground and already having incredible gains/losses/opportunities. Wait until the masses come. Think bigger.”
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GGKJWQGWAAAwRp0?format=png&amp;name=4096x4096" alt="Image" width="2165" height="1179">
 <figcaption class="wp-caption-text">
 Source: Altcoin Sherpa/X
 </figcaption>
 </figure>
 The total market cap for all digital assets stands at $1.807 trillion at time of writing.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-trader-says-magical-price-discovery-could-be-coming-for-one-new-chainlink-rival-here-s-why-tbt79809.html">https://thebittimes.com/crypto-trader-says-magical-price-discovery-could-be-coming-for-one-new-chainlink-rival-here-s-why-tbt79809.html</a>

Crypto Trader Says Magical Price Discovery Could Be Coming for One New Chainlink Rival – Here’s Why

TheBitTimes

Các bài viết khác được xuất bản trên 14 thg 2, 2024

Bitcoin ETFs haven’t cannibalized spot Bitcoin trading — Robinhood CFO

Surge in Bitcoin ETF Investments Signals Growing Market Confidence

Analyst Michaël van de Poppe Foresees A Bitcoin Price Ranging From $200K To $500K; Cardano And So...

2024 Top Stake-to-Mine Crypto – Can This Cloud Mining Project ICO Capitalize on the $50k Bitcoin ...

Bitcoin (BTC) Futures Open Interest Surges to 26-Month High

Daily Price Review: ETH, SEI, DYM, ADA, ARB

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!