A widespread crypto trader and analyst says he is going all-in on Ethereum and three other altcoins in an emerging crypto subsector.
In a new tweet, the smart contracter trader tells his 142,400 followers that he doesn’t even own Bitcoin right now as he only focuses on Ethereum and Decentralized Finance (DeFi) assets.
basically everything in #DeFi and $ eth atm, I have literally 0 btc at the moment.
– Bluntz (@SmartContracter) May 18, 2021
According to the smart contracter, the Aave money market protocol is a leader in the DeFi area. The trader adds that with Aave pushing a new all-time high (ATH), more DeFi coins are taking this as a signal to blast off.
“This AAVE ATH is important for two reasons. First, it will pave the way for the rest of the DeFi sector, and second, an ATH hiatus after three months of consolidation will mean a significant premium.
We could be talking about $ 2,000. ”
With an Aave trade of $ 608, the trader’s forecast equates to a potential profit of nearly 230%.
In addition to Aave, the crypto strategist says he’s also looking at three other DeFi assets that he believes are ready for a big rise.
“You may think you missed it, but I assure you you haven’t and even if you think so, just buy something else that hasn’t moved. MKR (manufacturer), SUSHI (SushiSwap), COMP (connection). There are a variety of other pieces out there. “
Smart Contracter highlights the automated market maker (AMM) sushi swap, which may be the best possible risk-reward trade (RR) on the market.
“Both AAVE / USD and AAVE / BTC are only a few inches away from new all-time highs.
If this isn’t a DeFi summer I don’t know what it is.
In my opinion, the best RR DeFi game is still hands down SUSHI. “
At the time of writing, SUSHI is trading at $ 19.28, according to CoinGecko, up 27% over the past seven days.
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Featured image: Shutterstock / Carlos Amarillo