A prominent crypto analyst and trader is calling out a new altcoin that he believes is hugely undervalued.
The pseudonymous analyst The Crypto Dog tells are 224,000 Twitter followers that the DeFi asset CREAM has a remarkably small market cap given its potential.
“Built one CREAM position recently, I think it is hugely undervalued with a market cap of $ 100 million and a total value of> $ 300 million at the moment and people are starting to notice. “
CREAM is a peer-to-peer DeFi ecosystem that allows users to borrow supported crypto assets, deploy tokens to earn rewards and exchange cryptocurrencies. It is also designed to provide liquidity to assets not usually listed on major stock exchanges in an effort to drive financial inclusion.
So is the crypto strategist bullish on Bitcoin (BTC) and thinks bears do damage.
“The difficult part is over. After spending the past few days in positions, now all we have to do is hold our long and watch the profit come in. Comfortable. “
Looking at Ethereum (ETH), the analyst believes it is only a matter of time before the second largest cryptocurrency trades above USD 400.
I think $ ETH will be $ 400 + relatively soon and that this dip will be a blip on the radar.
It is standard practice in a crypto macro bull market. This is our first big dip, however
– many people don’t remember until 2017
– not everyone thinks we are macro bull
Me? I am tall
– The Crypto Dog📈 (@TheCryptoDog) September 11, 2020
Additionally, the trader says he is long on three other DeFi assets: yearn.finance (YFI), Synthetix Network Token (SNX) and Aave (LEND). He is special bullish on YFI, which is currently trading at $ 39,320 according to CoinMarketCap.
“It will soon become unaffordable to own one ‘whole’ YFI. ”
The trader is also closely watching Aave, which he says is following in the footsteps of yearn.finance and is on track to set a new record soon.
– The Crypto Dog📈 (@TheCryptoDog) September 12, 2020
While he’s optimistic about the three DeFi coins, he says he won’t hesitate to let go of his holdings if Ethereum doesn’t stay above a significant level.
Still long on most of last week’s positions – ETH, YFI, SNX, TO BORROW. Bullish on this support, although I would cut everything down if ETH can’t hold USD 360. “
Featured image: Shutterstock / GrandeDuc