A closely followed crypto analyst, known on Twitter by the nickname Credible Crypto, has his eye on a fairly fast-moving altcoin that he says is likely to rise 10x or more in the current bull market. Credible Crypto is known for some successful predictions. cryptocoin.com As we previously reported, the anonymous analyst predicted that XRP would retrace to around $0.20 and then $0.168, and then start to rise. The move noted by the analyst was similar in XRP. In March of this year, Credible Crypto also correctly predicted that the XRP price would start rallying after a correction. At that time, the cryptocurrency, which was trading at $ 0.5 levels, managed to approach $ 2 by April. That is why it has been called the Oracle of Rippel in the crypto market.
Analyst’s favorite altcoin project Convex Finance (CVX)
Credible Crypto explains to his 246,000 Twitter followers why Convex Finance (CVX) is high on their watchlist:
I expect at least 10x CVX from current levels during this bull run and this is a conservative estimate. The APR (annual percentage rate) for locking CVX is also now over 50% thanks to bribes. CVX has quickly become one of my favorite projects and one of my largest holdings.
Convex Finance is a protocol that allows liquidity providers on the Curve Finance decentralized exchange (DEX) to earn trading fees and other rewards without having to lock up their CRV, the token that powers the exchange. The anonymous analyst also shares a chart from Ethereum (ETH) analytics platform Nansen that shows major investments flowing into CVX from the wallet of digital asset investment firm Blocktower Capital.
Last week, CVX outperformed other major players in the decentralized finance (DeFi) sector, including Ethereum, Solana (SOL), and Aave (AAVE). According to CoinGecko, it has risen 33% in the last seven days and CVX was trading at $11.19 at the time of writing. It’s up 503% from its three-month low, but it’s still 45% down from its all-time high of $20.89.
Ethereum (ETH) has started a comeback, according to Credible Crypto
The analyst, who also looks at Ethereum, says that ETH has started a reversal and expects a higher low somewhere around $3,000 before hitting all-time highs:
The callback has been initiated. Now give me a higher low and some reverse head and shoulder movement and let’s get it back to the new ATH.
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