dailyhodl.com
A veteran crypto trader says that one digital assets sector is about to pull off an under-the-radar repeat of its 2021 rallies.
The pseudonymous trader known as Bluntz tells his 304,000 followers on the social media platform X that the decentralized finance (DeFi) sector is “de-risked” following news that the crypto project linked to President-elect Donald Trump has accumulated tokens.
Says Bluntz,
“The president is accumulating DeFi coins and is making his own DeFi company.
I think it’s safe to assume DeFi is now de-risked and due for a 2021 repeat.”
Crypto intelligence platform Arkham recently reported that Trump’s World Liberty Financial ($WLFI) platform purchased $50 million worth of DeFi coins, including Ethereum (ETH), Chainlink (LINK), and Aave ($AAVE).
Taking note of $WLFI’s purchases, Bluntz says he’s bullish on the decentralized stablecoin protocol Ethena ($ENA), noting that traders are shorting the altcoin.
“The president is buying $ENA and funding is negative -0.05.
I seriously wonder what goes through people’s brains sometimes.
Who is shorting that?”
Similarly, the trader is bullish on $AAVE after a very lengthy accumulation period. He says that a shot to all-time highs for $AAVE is now a near-certainty.
“Aave has an amazing high time frame chart here in my opinion.
It accumulated for 833 days of hell, that’s a long-a** accumulation and is now well and truly in the markup phase.
There is no way this isn’t seeing all-time highs.
The president-elect is literally green-lighting DeFi with his actions and he’s not in office yet.
Skate to where the puck is going.”
At time of writing, $AAVE is worth $367.87.