A popular crypto analyst has issued a warning about Aave (AAVE), a top decentralized lending protocol built on Ethereum (ETH).
The trader Ali Martinez tells his 98,500 followers on the social media platform X that social volume and positive sentiment around Aave’s native token are increasing enormously.
“With the growing public focus on AAVE, a brief pullback could be in store as markets often move against popular sentiment.”
AAVE, the 34th largest crypto asset by market cap, is trading at $384.85 at the time of writing.
Regarding Litecoin, Martinez say that LTC is “irrelevant, both fundamentally and technically.” The analyst states that Litecoin has not added anything significant to the crypto industry in terms of innovation.
“And let’s not forget: [Litecoin creator] Charlie Lee sold all his Litecoin at the top in 2017. If the creator doesn’t believe in their project enough to stick with it, why should I?
If the fundamentals don’t convince you, the technical aspects should. Litecoin is trading at the same price today as it was in 2017. That means we haven’t gone anywhere in seven years.
In an industry characterized by innovation and growth, LTC stands out as a project stuck in time. Since peaking in 2017, the price has not hit a new all-time high and has been consolidating within the same range ever since.
Of course, there is potential for a short-term pump here and there, but that is purely speculative. When putting my money into crypto, I prefer to back projects with innovation, strong fundamentals and a clear future – not a relic of the past.”
LTC, the 26th largest crypto asset by market cap, is trading at $123.07 at the time of writing.
Martinez too updates his take on the real-world asset (RWA) project Ondo Finance (ONDO), which he says could soon see some price volatility amid increased inflows from crypto exchanges.
“Historically, every spike in currency inflows has caused both price corrections and increases. Look after!”
ONDO is trading at $1.96 at the time of writing. The 64th-ranked crypto asset by market capitalization is up nearly 11% in the past 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
Credit : dailyhodl.com
