A brand new Solana based altcoin may now surge by a whopping 700% says popular YouTube host from InvestAnswers.
The host of the InvestAnswers YouTube channel believes that one crypto project running on the Solana (SOL) network will go on a bullish rampage.
The InvestAnswers host tells his 472,000 YouTube subscribers that the decentralized exchange (DEX) aggregator Jupiter (JUP) could surge by “somewhere between a 4x and an 8x to be conservative.”
The trader’s big price prediction comes from his analysis of Jupiter’s fundamentals.
According to the InvestAnswers host, Jupiter is witnessing strong network activity based on trading volume and monthly active user count.
“If this thing takes off, if this DEX takes all the business, this is going to shoot up the CMC charts.
And currently, it’s on the CoinMarketCap at [position] 71. It just launched. 71.
When you look at all the assets above 71, there is no asset that had this number of monthly active users, this number of trading volume, this amount of growth.
Every single metric blows all of the ones above it out of the water.
Therefore, I’m very convinced it’s going to go up as long as it doesn’t break down.”
The crypto analyst also says that Jupiter does everything and addresses many of the pain points that he experienced over the years using different decentralized exchanges.
“You can swap, you can do perps [perpetual contracts], leveraged trading, you can dollar-cost average, you can go cross-bridge.
There are I think 6,000 pairs you can trade. And you can do it in real-time with no friction.
It’s been my dream since 2020 after having the painful experience of working with decentralized exchanges in the past and working with wallets and paying cr*zy fees.”
Jupiter is currently trading at $0.006 at the time of this publication.
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Also Read: A Veteran Trader Now Becomes Super Bullish on Bitcoin BTC
Other Crypto News Today
Crypto investors now see Bitcoin (BTC) surging to a whopping $100K sometime after the upcoming halving event, according to a new study.
The research, issued by crypto trading platform Bitget, surveyed 9,748 crypto investors from different regions across the globe, including West Europe, East Europe, South East Asia, East Asia, MENA (Middle East and North Africa) and Latin America.
Bitget found that a majority of the thousands surveyed are optimistic about the future of Bitcoin.
Some 84% of respondents believe Bitcoin will surpass the prior ATH (all time high) of $69,000 in the next bull run following April’s halving event, when miners’ rewards are cut in half.
The report also notes that 55% of those surveyed believe Bitcoin will enter a stable trading range between $50,000 and $100,000.
A smaller group of respondents expect Bitcoin to exceed $150,000.
More than half of those surveyed predict that Bitcoin will have a trading range between $30,000 and $60,000 around the time of the April halving.
About 30% believe Bitcoin will exceed $60,000 in April, reports TDH.
The survey also showed that 70% of the crypto market participants plan to increase their digital asset investments.
Bitget managing director Gracy Chen made the following statement:
“The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.
We are pleased to see such positive sentiment emerging as market conditions continue recovering.”
Bitcoin is trading for $43,180 at time of this publication.
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Also Read: Cathie Wood Says Bitcoin Will Hit $1 Million
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