Three Highly Undervalued Altcoins Are Ready for Moon Liftoff, Says Tyler Swope
Crypto trader and analyst Tyler Swope is breaking down his fundamental analysis on three crypto projects that the market may be selling short.
In his latest livestream event, Swope tells his 220,000 subscribers that decentralized finance (DeFi) project Compound (COMP) is likely on the verge of breaking out amid news that it will be migrating over to the Polkadot (DOT) substrate ecosystem and that it is releasing its new product, Gateway.
Says the Compound team on the new product,
“Gateway is a Substrate blockchain, governed by COMP token-holders on Ethereum. From the get-go, Gateway is fully upgradeable; governance is able to directly upgrade the blockchain by voting on code upgrades, without forks or downtime.”
Swope also notes that Compound CEO and founder Robert Leshner recently spoke with the Federal Reserve about DeFi and specifically the Compound mission.
“Compound CEO and founder… said this just last week, ‘Today I had the opportunity to present Compound and DeFi to the Federal Reserve staff.’ Compound is bullish.”
The next undervalued token on the influencer’s list is one that he’s spoken about before, Energy Web Token (EWT).
According to Swope, EWT is drastically undervalued, in part because the team is more focused on building their product than the price of their token. The analyst says he is a fan of this strategy, but also notes that the team’s mid-term roadmap indicates that they are about to implement some bullish upgrades that could positively affect the price of the EWT asset.
“I love Energy Web. I know what is going to happen with it. It is changing the energy game… many many pilot programs going on. Unfortunately, the team is focused on building not necessarily the token price, which is a good thing in my opinion… but it just gives you time to accumulate in my opinion.
But why I think it’s a pick that [should be] on the way up is [that the team is] starting to focus on tokenomics and things like that… I’m always bullish on EWT.”
Swope adds that its blockchain has an array of validator nodes run by high-profile firms like Acciona and the PTT Group.
Perpetual Protocol (PERP) is third on Swope’s list. The decentralized perpetual contract product is one of many in the trader’s bucket of investments, but he notes that it has the strongest fundamentals of the bunch.
“They do have a product out and it’s pushing out fundamentally great volumes… I go with fundamentals every time… Perpetual is a decentralized perpetual contract for different assets…They’re looking to move into gold assets, synthetic assets, but they are only in the crypto asset stage right now.”
Swope notes that of the cryptocurrency derivative exchanges, Perpetual has the highest volume of any decentralized derivatives exchange, pushing out $80 million worth of volume in 24 hours at its peak. Ranked at 213 on the top assets by market cap, Swope says Perpetual has a lot of room to grow.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mykola Holyutyak/Dario Lo Presti
The post Three Highly Undervalued Altcoins Are Ready for Moon Liftoff, Says Tyler Swope appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff