Analysis

FTX boss relies on these two “Ethereum destroyers” for the next two years.

FTX exchange CEO Sam Bankman-Fried believes both SOL and AVAX are well positioned in the market over the next two years.

In one podcast Recently, the CEO of FTX stated that alongside crypto OGs BTC and ETH, he thinks the above two altcoins are very promising.

Solana

The Relative Strength Index (RSI) at its recent prices indicates an oversold or undervalued market for SOL.

Source: TradingView

However, Bankman-Fried argues that SOL “did something very few chains didn’t even think to test.” Regarding the scaling problem he said:

“They’re one of the few chains with a truly future-proof path to scaling to the levels you need to reach if you want to use it on an industrial scale.”

Despite this, one of the best performing coins of 2021 under $100 is struggling. The Sharpe ratio for one year shows this very well. It fell short in the short term due to widespread weakness. At the time of analysis, the Sharpe Ratio (30D) is -6.8, a far cry from the peak of 2.77.

Avalanche

With AVAX maintaining an RSI above 30, Bankman-Fried saw huge potential for the chain. He believes the team behind the project knows what they’re doing, but expects more in terms of scaling.

“It doesn’t mean I know best and she doesn’t. In the end, they can be on the right track, which needs to be prioritized.”

He added that it was “a real show, a great show, and I think there’s a world where it’s going to be absolutely huge.”

Source: TradingView

It’s worth noting, however, that AVAX was unable to replicate the same performance in the short term given broad market weakness. While its Sharpe Ratio (1Y) stands at an impressive 1.8, the indicator has been negative for the past 30 days. In particular, this ratio may not be the best indicator given the turbulence the market has been experiencing lately, which has been most severe after July 2021.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

55 minutes ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

1 hour ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

2 hours ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

3 hours ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

3 hours ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

3 hours ago

This website uses cookies.