A closely-followed analyst and trader is pulling back the curtain on his biggest crypto position outside of Bitcoin.
In a new tweet, the pseudonymous Kaleo tells his 81,900 followers that FTX Token (FTT), the native asset of crypto derivatives exchange FTX, is primed to erupt over 170% from its current price of $37 in the coming months.
“FTT to $100 this summer confirmed… FTT/USD is my biggest spot bag outside of BTC for a reason.”
Another coin on Kaleo’s radar is Bitmax Token (BTMX). According to the trader, the native token of digital asset trading platform Bitmax is on the cusp of pulling off a massive bullish move.
“Bought a bag of BTMX (BitMax Token). It looks primed for continuation along with the rest of the exchange coins.”
Swipe (SXP), the native asset of the Swipe decentralized finance (DeFi) ecosystem, is also on Kaleo’s list. The crypto strategist expects the token to rise over 100% from its current value of $2.97.
“SXP is by far the biggest laggard when it comes to Sam [Bankman-Fried] coins. Whether it’s just due to the TA or whether there’s some type of major news soon, I expect this to blow past the old ATH (All-time high) when it breaks out of this range. I have a bag.”
The trader is also keeping a close eye on Flow (FLOW), a crypto asset created for use cases in the gaming and non-fungible tokens (NFT). Kaleo believes that Flow is now ready to resume its bullish ascent after breaking out of consolidation.
“FLOW is ready. Send it.”
The fifth token on Kaleo’s watchlist is blockchain gaming platform Enjin Coin (ENJ), which he says is gearing up to ignite a big move against Bitcoin.
“I expect a few more days of chop before the next leg up out of this range.”
As for BNT, the native asset of decentralized exchange Bancor Network, Kaleo says he’s buying the dip as he expects the coin to correct in the short term.
“Taking some profit here. I’ll add back on the retest.”
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