- Analyst Miles Deutscher shares insights on several altcoins including UNIBOT, KAVA, and Solana, offering a nuanced view of their growth potential and challenges.
- Issues like internal founder disputes in GALA and upcoming liquidations in Solana are highlighted as potential risk factors in the altcoin market.
In the ever-oscillating world of cryptocurrencies, every week brings a new set of prospects and challenges. Miles Deutscher, a respected name in crypto analytics, recently disseminated his seasoned opinions on the week’s noteworthy altcoins via Twitter.
Altcoins: From Growth Catalysts to Red Flags
First up on Deutscher’s list is UNIBOT, which has witnessed a staggering 60% decline from its peak value. Citing Fear, Uncertainty, and Doubt (FUD) along with deteriorating key performance indicators as the primary drivers of this downturn, Deutscher still posits a bullish stance. His reasoning lies in the diminished pace of the asset’s sell-off, making it a candidate for accumulation at lower price points.
KAVA, another token catching his analytical eye, presents a different narrative. Apart from its recent integration into Fireblocks—a financial gateway for institutional actors—the coin has also found synergy with DWF Labs, and serves as a conduit into the Cosmos ecosystem for Tether. The launch of its first perpetual decentralized exchange (perp dex) further elevates KAVA’s position in the market.
However, not every altcoin gets Deutscher’s stamp of approval. He raises alarms about GALA, pointing to a litigious atmosphere among its founders as a destabilizing factor. The recently unveiled information that the founders control significant portions of the network nodes also raises centralization concerns, an anathema in the decentralized world of crypto.
In the realm of gaming tokens, PYR emerges as a strong player, seemingly benefiting from GALA’s internal struggles. The token is showing robust signs of being in an extended positive accumulation phase, indicating potential upside in the near term.
Turning attention to Maker (MKR), Deutscher noted the community’s excitement over their “End Game” initiative. The audacious proposal to transition to a native blockchain and divorce from Ethereum’s network was not well-received by Ethereum’s founder Vitalik Buterin, adding another layer of complexity to Maker’s trajectory.
SUI Network (SUI) is experiencing an uptick, manifesting a 70% surge in Total Value Locked (TVL) over the past month. “When SUI pumps, it pumps hard,” Deutscher quipped, highlighting the asset’s potential for dramatic gains.
Lastly, Solana (SOL) finds itself at a precarious juncture with upcoming FTX liquidations creating market apprehensions. These liquidations could incite significant price fluctuations given the current liquidity conditions. Despite this, Deutscher remains constructively optimistic about Solana’s future, considering the possibility of augmenting his long-term holdings if the price retraces, while also keeping an eye out for potential short opportunities.
