A widely followed crypto analyst says Ethena (ENA), a synthetic dollar protocol built on top of Ethereum (ETH), looks poised to continue its red-hot streak.
The pseudonymous analyst known as Altcoin Sherpa tells his 234,500 followers on social media platform
“I think this continues to rise. My average is still pretty high, like $0.92 or something, but this one still beats most of the market. [in my opinion]. Buy all the sauces you can.”
Source: Altcoin Sherpa/X
ENA, the 56th ranked crypto asset by market cap, has risen more than 8x in the last three months and is trading at $1.18 at the time of writing. It is also up more than 1% in the last day.
Altcoin Sherpa appears less bullish on smart contract platform Solana (SOL) in the medium term, especially compared to other major crypto assets, noting that he believes it will be overtaken by the top two digital assets by market cap.
“I believe SOL will underperform both ETH and Bitcoin in the coming months. I don’t know what will happen in the long term and I still believe it is the best casino in the world. But I also have to be rational with it.”
Source: Altcoin Sherpa/X
SOL is trading at $217.74 at the time of writing. The crypto asset ranked sixth by market capitalization is down more than 1% in the last 24 hours.
Image generated: Halfway through the trip
