A highly respected trader known in the industry as Altcoin Psycho is spending a significant amount of capital on a new altcoin.
The analyst tells his 142,000 Twitter followers that he is investing heavily in Swirl Cash (SWIRL), a newly launched project based on Binance Smart Chain (BSC).
Swirl was designed to enable decentralized and private transactions on the BSC smart contract platform, which has been growing in popularity since the rise in gas fees on the Ethereum network, the leading smart contract platform.
Altcoin Psycho points out that unlike many projects that have just emerged from a token release, the Swirl team has already set up a working project.
“Imitated today in SWIRL as soon as it is listed on PancakeSwap. Swirl is essentially BSC’s Tornado Cash with a much better token economy.
The main product is already live and is therefore not based on a whitepaper. This one will do incredibly well in my opinion. “
From the time the trader called, Swirl rose from a low of $ 1.55 to a high of $ 6.51 in a matter of hours, generating a return of 320% for anyone who played the trade perfectly.
Swirl is currently trading at $ 4.90 and has a market capitalization of around $ 6 million.
In February, the pseudonymous trader made a bold appeal regarding the decentralized cloud storage solution Akash Network (AKT), betting that the project could climb into the top 50 projects by market capitalization.
Since its AKT forecast, the asset has risen nearly 100%, overtaking around 16 projects to become the 204th top asset by valuation.
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Selected image: Shutterstock / Volodimir Zozulinskyi