The popular pseudonymous crypto strategist Smart Contracter is analyzing the altcoin market in the wake of Ethereum’s ascent to a new all-time high.
The trader, who built his following after accurately predicting Bitcoin’s bear market bottom in 2018, believes Aave, a decentralized lending platform, is one of the most promising coins on the market.
“Aave is my financial freedom bag, bullish on all three USD, ETH and BTC pairs.”
Aave just rocketed to its all-time high of $433.14 on Wednesday. The governance token is trading at $410.19 at time of writing, according to CoinGecko.
The analyst also says that Chainlink, a decentralized oracle network, is likely going to follow Ethereum’s breakout soon. The eighth-ranked crypto asset by market cap is up 20% in the past week and trading at $25.25 at time of writing, according to CoinGecko.
Additionally, Smart Contracter is “giga bullish” on Ren, a protocol that enables the transfer of crypto assets between blockchains.
He argues the decentralized finance (DeFi) asset is likely to make significant gains against Ethereum, which just reached its all-time high on Wednesday.
The 67th-ranked crypto asset by market cap is up more than 36% in the past week and is trading around $0.71 at time of writing, according to CoinGecko.