A widely followed crypto strategist is naming one low-cap altcoin that he says could explode in the coming weeks.
The pseudonymous analyst known in the industry as The Crypto Dog tells his 747,200 Twitter followers that he sees GMX (GMX) as his “well-researched and high-confidence play.”
GMX is a decentralized spot and perpetual crypto exchange that offers low swap fees and zero price impact trades.
According to The Crypto Dog, all fundamental metrics look healthy for GMX as it trades in a trend that defies the general crypto markets.
“The chart looks so good aesthetically and maybe for continuation too. My hunch says GMX trades in the $60s in <2 weeks.
After staring at this chart and seeing new users, average volumes and revenues, it sounds right.”
The Crypto Dog also says that he’s heavily loading up on GMX as he believes the under-the-radar altcoin is the top long-term play in the crypto markets right now.
“I had to send another withdrawal through on over to Arbitrum and buy another $250,000 worth of GMX. This GMX price is higher now than all of my previous buys, but the fundamentals have gotten significantly stronger to justify it. Happy to take a better deal at a higher price...
GMX comprises the largest portion of my net worth, and I just bought more. I think it’s the best long-term and accessible play in crypto right now.”
At time of writing, GMX is swapping hands for $40.00. A move to the analyst’s target of $60 represents an upside potential of 50% for GMX.
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Featured Image: Shutterstock/Bruce Rolff/Natalia Siiatovskaia
This news is republished from another source. You can check the original article here