A prominent analyst suggests an explosion of altcoins competing with leading smart contract platform Ethereum.
The person, known in the industry by the nickname of altcoin Sherpa, told his 169,500 Twitter followers that he expects great things from Cosmos (ATOM), a blockchain designed to be both scalable and scalable.
The analyst said he is impressed with the project’s Inter Blockchain Communication (IBC) protocol, which has been operational since April last year, and expects ATOM to be one of the best-performing altcoins of 2022.
“I may be late when it comes to Cosmos, but I think 2022 will be a great year for the project.
There’s lots of fun building and talking points in future IBCs. I think this is definitely a project worth looking forward to in the future.”
Source: Altcoin Sherpa/Twitter
sherpa goal discussed his ATOM, warning of what could happen if Bitcoin (BTC) suddenly falls in price.
“I think the trend is looking good on the lower timeframes, we see the EMAs oscillating up.
The midline of the range is currently holding but if BTC suddenly falls it will fall back to the range support.”
At the time of writing, Cosmos is down 11% and trading at $32.67. ATOM is up an impressive 45.7% since the Feb. 24 low as the entire market plummeted.
Moving on to smart contract platform Terra (LUNA), altcoin Sherpa is chasing an entry at $77 should the altcoin fall again.
“The $77 level is a good entry point for LUNA as coins like this will recover very quickly as the market recovers.
It also had an amazing gain as it neared an all-time high.”
Source: Altcoin Sherpa/Twitter
LUNA is currently trading at $86, down 6% in the last 24 hours.
You can see the BTC price here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions
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