A popular crypto trader says the decentralized financial (DeFi) sector of the crypto market is poised to go through a moon phase that will put the extended bull run to shame in 2017.
Known in the industry as Altcoin Psycho, the pseudonymous trader explains to his 82,000 Twitter followers that buying DeFi assets is similar to buying Ethereum in 2016, when the price ranged from $ 1.00 to a high of $ 19.
“With the DeFi bubble, the ICO bubble will look like a breeze when things really get going …
Many people don’t even know what DeFi stands for. Joining DeFi is like buying ETH in 2016. “
Earlier this month, the crypto trader announced it was starting scaling into the Reserve Rights Token (RSR), which is the utility token of the Reserve Rights Stablecoin protocol.
He also invests in the decentralized cross-chain liquidity token THORchain (RUNE), the governance and liquidity tokens of the decentralized exchange SushiSwap (SUSHI) and the decentralized derivatives exchange Serum (SRM).
In addition, the analyst names the Synthetic Asset Protocol Synthetix (SNX), the Smart Contract Platform Cardano (ADA) and the pure proof-of-stake blockchain protocol Alogrand (ALGO) as coins whose “time has come”.
Regarding the crypto king Bitcoin, the trader says investors should realize that BTC remains virtually unchallenged as the number one store of value.
“In the next season there will be a lot of stories for a new ‘Ethereum killer’. There will be 0 tales for a bitcoin killer. I’m not a maximalist, but keep that in mind. “
Don’t Miss A Beat – Subscribe to send crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Check out the latest headlines
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and any losses incurred are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock / Sergey Nivens