A widely followed crypto analyst says that Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH), looks primed to continue its red-hot streak.
The pseudonymous analyst known as Altcoin Sherpa tells his 234,500 followers on the social media platform X that ENA is worth investing into when it dips in price as it will outpace most of the market.
“I think that this just continues going higher. My average is still pretty high like $0.92 or something but this one still just outperforms most of the market [in my opinion]. Buy any dips that you can.”
ENA, the 56th-ranked crypto asset by market cap, is up more than 8x in the past three months and is trading at $1.18 at time of writing. It’s also up more than 1% in the past day.
Altcoin Sherpa appears less bullish on the smart contract platform Solana (SOL) over the medium term, especially compared to other top crypto assets, noting that he believes it will be outperformed by the top two digital assets by market cap.
“I think SOL underperforms both ETH and Bitcoin in the coming months. I don’t know what happens long term and I still believe it’s the best casino on earth. But I also have to be rational with it.”
SOL is trading at $217.74 at time of writing. The 6th-ranked crypto asset by market cap is down more than 1% in the past 24 hours.
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The post Trader Says Altcoin That’s Up over 8x in Under Three Months to Outperform Market, Updates Outlook on Solana appeared first on The Daily Hodl.
