Solana, Avalanche and Two Other Ethereum Rivals Could Crash 50% if Bitcoin Dives Lower, Warns Top Crypto Analyst

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A top cryp­to ana­lyst believes four Ethereum (ETH) com­peti­tors face a bleak future if Bit­coin (BTC) con­tin­ues to fall.

Pseu­do­ny­mous trad­er Alt­coin Sher­pa tells his 176,100 Twit­ter fol­low­ers that smart con­tract-enabled blockchains Solana (SOL), Avalanche (AVAX), Polka­dot (DOT) and NEAR Pro­to­col (NEAR) are all set to shed around 50% of their val­ue from cur­rent prices if Bit­coin keeps trend­ing lower.

“The real halving…

DOT SOL AVAX NEAR

If BTC makes anoth­er leg down, these go anoth­er 50% from cur­rent levels. 

I still think we see a short bounce before then, but these demand areas get­ting test­ed a lot right now.”

Source: AltcoinSherpa/Twitter

Polka­dot is cur­rent­ly exchang­ing hands at $9.76. The ana­lyst then looks at Solana, trad­ing for $41.79 at time of writing.

Source: AltcoinSherpa/Twitter

Alt­coin Sher­pa also looks at Avalanche, cur­rent­ly priced at $22.42.

Source: AltcoinSherpa/Twitter

The trad­er then charts NEAR Pro­to­col, retail­ing for $5.05 at time of writing.

Source: AltcoinSherpa/Twitter

Bit­coin is cur­rent­ly priced at $28,730, down by more than 28% over the past 30 days.

While Alt­coin Sher­pa is bear­ish on the four Ethereum rivals, the cryp­to ana­lyst says that TRON (TRX), a blockchain designed as a decen­tral­ized stor­age and dis­tri­b­u­tion plat­form for social media and dig­i­tal enter­tain­ment con­tent, has some upside potential.

Alt­coin Sher­pa says if the price of Bit­coin “sta­bi­lizes,” TRON could go up by over 40% from cur­rent lev­els as the founder of the cryp­to asset, Justin Sun, launch­es new initiatives.

Sun recent­ly unveiled an algo­rith­mic sta­ble­coin on the TRON blockchain, USDD (USDD), which is designed to exchange one for one against the US dol­lar. USDD cur­rent­ly boasts a mar­ket cap of around $577 million.

“TRX: One of the few coins you can look for longs; wouldn’t do it in this cur­rent area but Justin Sun is mov­ing his sh**coin high­er. If BTC sta­bi­lizes, I would assume this goes to $0.12.”

Source: AltcoinSherpa/Twitter

TRON is trad­ing for $0.08 at time of writing.

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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.



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