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Crypto analyst and YouTuber Tyler Swope says there are two altcoins whose prices are set to surge after their holders get airdrops.
In a new video, Swope tells his 227,000 subscribers to be cautious of coins launching airdrops as these crypto assets tend to follow a cycle of markup and profit-taking before another leg up.
One crypto asset that the trader says is about to follow the same scenario is FLX, an “ungovernance token” from reflex indexes platform Reflexer Labs. Reflex indexes are free-floating stable tokens not pegged to any underlying asset or security.
“I’m saying in the next week… week and a half this could be a pretty dang good opportunity because it is hyped up and you can claim your airdrop right now...
They’re going to do an airdrop and basically if you provide the liquidity there to their pools you’d be eligible for it. So all you have to do is go to the app – reflexer.finance – and be like ‘Hey, give me my airdrop.'”
Swope then lists notification protocol Ethereum Push Notification Services token PUSH as the other coin that is set to rally on the back of an upcoming airdrop.
The YouTuber points out that the token, which is ranked just above the 1,000th position by market capitalization on CoinMarketCap, is currently trading at a much lower price relative to its introductory price.
“EPNS basically, Ethereum Push Notification Service, they did their airdrop here recently. This one’s massively hyped too. A lot of big Ethereum developers are excited about this one. They got their drop of course, so it’s getting crushed. I mean it’s only been out for a couple [of] days. [It] hit $8 peak and now we’re going down hitting $2.56 right there.”