Top Analyst Bullish on Two Crypto Newcomers, Says He’s Reducing Exposure to SushiSwap
Cryptocurrency analyst Cantering Clark believes two altcoins currently ranked 19th and 33rd by market capitalization on CoinMarketCap are set to rally.
Clark says the scalable blockchain Solana (SOL) is now his largest position after selling Ethereum-based decentralized exchange SushiSwap (SUSHI).
Clark cites the altcoin’s strong support and heavy volumes as reasons for his bullishness.
“Long term bags are packed with SOL. After dumping SUSHI it is now one of my biggest positions. Look at that retest and volume.”
The analyst says he thinks Solana blockchain’s speed, scalability, low transaction fees and level of decentralization relative to other blockchains give it an advantage.
In terms of the number of transactions per second (TPS) on the Solana blockchain, Clark cites data showing that it currently processes 65,000 TPS against Ethereum’s 15 TPS, Binance Smart Chain’s 100 TPS, Polkadot’s 1,000 TPS, Cardano’s 270 TPS and Tron’s 1,000.
The data also shows Solana has the lowest average fee per transaction and latency relative to the five aforementioned blockchains.
“I think the investment in SOL speaks for itself. In the long run, fundamentals matter.”
The other altcoin that Clark is betting on is the Binance Smart Chain-based decentralized exchange PancakeSwap (CAKE). The analyst predicts that the digital asset is set to ‘pop hard’ as it hits an all-time high (ATH) amidst heavy buying.
“CAKE with the heavy volume coming into ATH. This is going to pop hard through.”
As Clark bets on the two altcoins, he vows to keep holding onto his Bitcoin and bequeath it to future generations.
“Someone asked me the other day when I will sell all my Bitcoin… Not happening. The multi-sig is multi-generational in my mind.”
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Author: Daily Hodl Staff