One Low-Cap Altcoin Is Ready To Launch Rally To Revisit All-Time High, According to Crypto Strategist

One closely followed crypto trader thinks a low cap altcoin is set to spring back towards its all-time high.

The pseudonymous crypto strategist known as Loma thinks that Binance’s upcoming $1,000,000,000 growth fund could reignite Binance Smart Chain’s popular decentralized exchange Pancake Swap (CAKE).

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He tells his 209,000 Twitter followers that CAKE could make a run back to its previous all-time high of $44, alluding to Binance’s growth fund as a potential catalyst.

“Damn, I wish Binance would announce a $1B incentive program or something.”

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Source: LomahCrypto/Twitter

Binance announced on Tuesday that it had received $1 billion to expand the Binance ecosystem. The expansion plans include allocating $100 million towards the Liquidity Incentive program, which alongside more flexibility and support for professional traders, will provide liquidity rewards to specific protocols based on innovation, total value locked (TVL), active users, or trading volumes.

A talent fund geared towards acclimating investors to the crypto ecosystem will receive $100 million, and a Builder & Incubation Program will receive $300 million. The remaining $500 million will be reserved for investment in the BSC ecosystem and supporting blockchain infrastructure outside of Binance.

At the time of writing, Pancake Swap’s TVL totals $5.5 billion and is up 11% on the day, trading at $19.81, according to CoinGecko.

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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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Crypto Strategist Says XRP Looks Bullish, Traders Are Sleeping on Two Overlooked Altcoins

A popular crypto trader and analyst says XRP looks bullish while highlighting two other altcoins on his radar. 

The trader known in the industry as Credible tells his 243,400 Twitter followers that the digital currency XRP looks ready to move higher against Bitcoin (XRP/BTC).

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Bullish. XRP”

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Source: Credible/Twitter

The crypto analyst shares the inverse chart of XRP/BTC, which shows that the pair is poised to rally to 0.000055 BTC, worth $2.54. The move represents an upside potential of over 160% from its current value of 0.000021 BTC ($0.89).

Credible is also bullish on decentralized exchanges Curve (CRV) and Pancake Swap (CAKE).

The crypto strategist shares data from decentralized finance (DeFi) insights firm Coin98 Analytics showing that CRV is leading the decentralized exchange market in total value locked (TVL) with more than $13.2 billion year-to-date. CAKE comes in at number three with $4.74 billion in TVL for the same period. 

“A lot of people [are] sleeping on CRV (and therefore CVX) and CAKE. I’m not. Been loading up on these three for the past month or two. Still plenty of time to get on board but this won’t be the case for much longer.”

The crypto trader also gives an update on Bitcoin (BTC). He expects altcoins to fly while Bitcoin ranges in the near term, sending the Bitcoin dominance chart to new all-time lows.

“We hit 49% on BTC [dominance], 1% shy of my target. Close enough. Expecting BTC to chop around in the coming weeks/months allowing alts to rally and sending BTC dominance to new all-time lows.”

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Source: Credible/Twitter

The Bitcoin dominance chart shows the market share of BTC relative to the market cap of all other crypto assets.

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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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SUSHI Could Hit $100 Soon As it Rallies Ahead, Todaro Says

SushiSwap’s governance token, SUSHI, could get to $100, which represents five times its current price, according to John Todaro, head of business development at TradeBlock. 

One of the Biggest Successes in DEXs

SushiSwap is a decentralized cryptocurrency exchange based on the Ethereum blockchain. Its price rose to about $19, a 30-fold increase from a low of November 2020. Todaro wrote in Thursday’s Bankless newsletter that the protocol has proven to be one of the greatest success stories in DeFi, with over $100 million in cumulative revenue since its introduction.

SUSHI holders receive a share of SushiSwap’s fees, similar to how stockholder holders can receive a dividend. SushiSwap recently started this mechanism by paying token holders a portion of exchange charges across the network.

Investors and participants in the market will now earn incentives through ownership of a valuable asset. Also, investors can assess assets paying for a prize at a quantitative stage since they can somehow predict future rewards.

Todaro noted that they often price dividend-paying stocks at an expected discount rate on the conventional equity markets by discounting future cash flows to date. In calculating cash flows, he used historical trading volumes and taxes.

The terminal growth rates consistent with the broader industry and economy are modeled at 3 percent annually. The terminal growth rate in line with the country’s GDP in which the business operates can be structured in such models. In the US, it usually ranges from 1.5% to 4% annually. SushiSwap is a young business and thus has a significant risk over more mature, traditional enterprises.

SUSHI’s Smooth Rally 

While other DEXes offer similar governance types tokens, SUSHI is different, as SushiSwap is one of the few projects that pays owners to own a coin. Hence, there has been a rise in demand. As of March 15, 2021, prices rose from just $2.1 in December 2020 to about $20.97 – an increase of 915 percent. While several other tokens on the market are glorified methods for speculating on cryptographic content, SushiSwap tries to do something special that is time-testing.

Todaro calculates the intrinsic market value of SushiSwap to be about $12.6 billion, or a cumulative token value of around $100 based on its assumptions.

Todaro cautions investors about significant market threats, including a slump in DeFi crypto-monetary trading despite high valuations. This overall risk in the industry will “heavily impact the amount and thus the trade costs of SushiSwap,” writes Todaro.


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