Top Trader Sees Four Ethereum-Based Altcoins Outperforming – Fintechs.fi

A crypto strategist who is widely followed thinks that four altcoins that run on the Ethereum (ETH) network could do better than the market as a whole in the next leg up.

Altcoin Sherpa, analyst, tells his 194,500 Twitter followers that he is keeping an eye on the cross-chain bridge protocol (STG).

Even though the crypto trader is optimistic about STG, he thinks it could drop as low as $0.72 before going up. Even though the crypto trader thinks STG has a good chart, he is thinking about buying the altcoin when it is cheaper.

“STG: chart looks good + they just did a $3 billion raise and have the layer zero token coming out soon. Should increase overall value proposition + volume on it.”

At the time this was written, STG was worth $0.79.

Altcoin Sherpa is also keeping an eye on the Frax Share (FXS) stablecoin protocol’s governance token.

“FXS: just a really good decentralised finance project, look into it.”

Next is layer-2 protocol Arbitrum (ARB), whose prices he thinks could still go down even though he thinks they are already below their fair value.

“ARB: undervalued in my opinion in terms of overall usage with total value locked, overall trading volume, etc compared to its competitors.”

At the time of writing, $1.19 is what ARB is worth.

Liquity (LQTY), a decentralised borrowing mechanism that lets users borrow ETH, is the trader’s final ETH-based altcoin. Altcoin Sherpa says that he is waiting to see how LQTY acts after Ethereum releases the Shanghai update. This will be the first time that stakers will be able to take out their ETH stacks.

“LQTY: we will see what happens with Shanghai, other LSD [liquid-staking derivatives] could be good too.”

At the time this was written, LQTY was being sold for $2.32.