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Cryptocurrency analyst Viktor shared his views on the current status and future prospects of various coins in the crypto space.
In a recent post, he explained the factors that can affect the price movements and performance of some of the most popular and promising cryptocurrencies.
- According to Viktor, Bitcoin (BTC) may still be the safest long-term option as the likelihood of an exchange-traded fund (ETF) being approved remains.
- He also stated that Ethereum (ETH) could benefit from the recent news that Ripple (XRP) has settled its lawsuit with the US Securities and Exchange Commission (SEC), which could increase trust and demand for non-BTC coins.
- Viktor also identified Solana (SOL) as the best alternative tier 1 (L1) platform, as it has a strong recent trend in non-securities and a large and active community of supporters and promoters.
- He added that Lido (LDO) is a kind of leveraged system over ETH, as it allows users to stake their ETH and earn rewards without locking up their funds.
- Another coin that Viktor praised was Polygon (MATIC), which he says is going through a rebranding process and has a trend towards non-security. As Bitcoinsistemi.com reported, MATIC will be rebranded as POL.
- He argued that for the Optimism (OP) token, it could be under the positive influence of the Base mainnet, which Coinbase will launch soon.
- Viktor also argued that the DeFi bear market is over and pointed to the Synthetix (SNX) token.
- On the other hand, Viktor suggested that Ripple (XRP) and Stellar (XLM) could be short candidates as they have already reached the top after the SEC news.
- He also questioned whether Avalanche (AVAX) could follow in the footsteps of SOL as it is another L1 platform that claims to offer high scalability and low fees.
- In addition, the analyst also mentioned the Conflux Network (CFX) altcoin due to its popularity in 2023. He also mentioned Pepe (PEPE), which he says performs well in bull conditions.
- Finally, Viktor voiced his doubts about Bitcoin Cash (BCH), which he says has an obsolete trend of being a faster and cheaper version of Bitcoin. He suggested that BCH could be a candidate for shorting or hedging against other coins.
*Not investment advice.