The crypto market is always in flux, with new narratives and trends emerging each week. Renowned crypto analyst Miles Deutscher recently took to Twitter to share his insights on the altcoin space, shedding light on the tokens that are catching his attention.
Crypto Watchlist For This Week
Starting with UNIBOT, Deutscher highlighted its recent performance, noting that it’s down significantly (-60%) from its highs. He attributed this decline to a combination of fear, uncertainty, and doubt (FUD) and a decrease in key metrics. However, he remains optimistic, suggesting that the accelerated selling might be slowing down.
“I used the dip as an opportunity to add to my position. I don’t think there’s a rush – but if you believe in the narrative you’re now getting another chance to accumulate in the double digits,” he shared, indicating a belief in the token’s long-term potential.
KAVA is another token on Deutscher’s radar. He pointed out several positive developments, including its addition to Fireblocks, a platform that serves as a gateway for institutions. Furthermore, the involvement of DWF Labs and Kava’s role as a gateway to the Cosmos ecosystem for Tether are promising signs. The recent launch of their first perpetual decentralized exchange (perp dex) further underscores Kava’s growing momentum in the market. “Recently added to my accumulation list + I’m watching the chart closely,” Deutscher stated.
However, not all tokens are receiving a positive nod. The analyst expressed concerns about GALA, citing internal disputes between its founders. “The situation over there is crazy, with both founders suing each other,” he remarked. This ongoing legal battle could potentially hinder the token’s performance and future developments. Deutscher also raised concerns about GALA’s centralization because of the fact that both the founders own 7,000 nodes and 50,000 nodes respectively, a revelation that emerged from recent documents.
In the gaming altcoin space, PYR stands out. Following the turbulence surrounding GALA, liquidity seems to be moving towards other gaming tokens, with PYR emerging as a strong contender and probably the closest counterpart. Deutscher praised its resilience and positive accumulation phase, hinting at its potential for growth. “Upon checking the PYR chart, we rarely see a token in such an extended/positive accumulation phase”, Deutcher remarked.
Another altcoin to watch…
Click Here to Read the Full Original Article at NewsBTC…
