Crypto trader and influencer Nicholas Merten has been examining three NFT and three DeFi coins/tokens for the next altcoin supercycle.
Merten claimed that the altcoins discussed in the video had the potential to outperform Bitcoin and Ethereum in the market boom expected to occur in the coming weeks:
“Right now, altcoins are setting up big time for a secondary cycle… Going into May of this year, we are going to see the second wave of the existing altcoin cycle that we’re currently living through.“
Merten highlighted the decentralized exchange PancakeSwap (CAKE) as one particular altcoin for followers to keep an eye on. He said the coin was poised to bounce back after making a 50% correction over the last several days:
“We can see here that we’ve had a nice 50% correction and three days of green here. In fact, you start to see the buy-side volume returning and starting to outpace some of these days back here… This, to me, looks really interesting, to see volume picking up against purchases with Bitcoin.“
Merten was also bullish on Stacks (STX), which he predicted was poised for a rally.
The last DeFi altcoin was Uniswap (UNI), which he said was building for another breakout:
“As we’ve been consolidating here, waiting for the moment to get up here, waiting for the launch of Uniswap v3. It’s going to be coming up probably very, very soon. That’s going to be your inflection point to really press prices higher.“
The three NFT plays that Merten likes are Rarible (RARI), Enjin (ENJ), and Flow (FLOW).
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.