A popular pseudonymous trader known in the industry as Flood says three altcoins will generate a massive amount of wealth for investors.
The analyst tells his 146,000 followers that the three crypto assets to watch are FTX Token (FTT), Solana (SOL) and Nerve Finance (NRV).
— Flood (@ThinkingUSD) May 26, 2021
Flood is particularly vocal about FTT, the native token for the FTX crypto derivatives trading platform.
Explained the trader on Sunday, when FTX had dropped to the $25 range,
“Scooped up some FTT here. I think at a $2.5 billion market cap it’s pretty underrated and I only see FTX growing in market dominance. -60%+ from the all-time high. Should reclaim the $40’s assuming we bounce this week.”
— Flood (@ThinkingUSD) May 24, 2021
SOL, the native token of scalable blockchain Solana, is trading at $29.411 at time of writing, according to CoinGecko. It’s down 6.5% on the day but down more than 23% on the week.
The native asset of automated market maker Nerve Finance (NRV) is trading at $1.82 at time of writing, down more than 15% on the week.
Flood, who has been accumulating both Bitcoin and Ethereum (ETH) since 2015 when the assets were worth roughly $250 and $1 each, also says he just had the worst trading week of his career in terms of US dollar losses.
“In all certainly my worst USD week despite a pretty conservative portfolio, just didn’t hedge enough.
A casual -$40MM drawdown. Not going to be hard to make it back though. More importantly, portfolio is leaner and ETH + BTC totals are at all-time highs.”
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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/Vlad_Nikon