A popular crypto trader considers Terra (LUNA), The Sandbox (SAND) and Avalanche (AVAX) to be among the strongest altcoins at the moment.
Crypto analyst Cheds said in a new interview that traders should focus on the strongest handful of altcoins rather than investing in a bunch of coins.
“I don’t touch anything weak, especially right now. There is an incredibly gruesome market environment. The new mentality is, ‘Those who are battered the most have the best chance of running.’
But trends will continue and you want to play the strongest before the crash because they will give the best response. They will form higher lows (a movement in which price does not go below the lowest point, but rises with occasional upward and downward price action). They will break the higher highs.”
According to Cheds, some of the strongest altcoins in the market are LUNA and AVAX. He also said that he is trading SAND.
Terra is a network of several stablecoins pegged to fiat. The network is used for e-commerce payments and decentralized finance (DeFi) services, with the reserve currency LUNA supporting the price of stablecoins.
LUNA is trading at $88.90 at the time of writing and has increased by 21.42% in the last 24 hours.
Avalanche is a smart contract platform. Its native token, AVAX, is trading at $84.79 at the time of writing. The 10th-ranked crypto asset has gained 12.91% in the last 24 hours.
Sandbox is an Ethereum-based virtual world that allows video game fans to create and monetize their gaming experiences. The SAND token is used on the platform to transfer value, protect the network and manage the protocol. The 38th-ranked crypto asset by market cap is trading at $3.14.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.