[I do not have a position in Eth, yet] Ethereum is about to hit ath, and I think it will go much higher, Eth is up 250% in the past 3-4 months The Eth spot etf inflows are high, crypto treasury eth ticker symbol $bmnr are causing a supply shock other crypto assets like sol, tron (EU) and rumor of hyperliquid $hype are also being acquired being planned for treasury asset by other publicly traded companies alt season is here and it's not even Uptober, yet, so it may not be too late to allocate I'm thinking of bmnr or dfdv or the native crypto assets
DOGE seems nice and there are 75% odds of it's ETF being approved. ADA also looks good. They are both easy to pump and dump on the retail without any repercussions. These two are basically the epitome of retail pump and dumps. Maybe the trio is ADA XRP DOGE. The thing with these altcoins is they underperform for years only to pop up like crazy in a month or two when the euphoria peaks. With ETH pumping like this we seem to be entering that last month or two period.
Ethena might be getting funds from wall street, there is perpetual futures on ENA at HyperLiquid Ethena is the issuer of synthetic dollar USDe and yield bearing sUSDe, a very successful project over $10 Billion worth of organic issuance of USDe https://www.elitetrader.com/et/threads/synthetic-usde-crypto-native-internet-money-by-ethena.379079/ https://ethena.fi/ https://app.hyperliquid.xyz/trade/ENA
Might want to check out SUI , another defi protocol that has 5x potential. Ethereum is doing great but we need Bitcoin dominance to go higher and Bitcoin to pump more so that altcoins can have a better run before altseason really starts to take off.
I'm hearing lots of interest in SUI, but I haven't used the SUI blockchain/token, yet BNB was less than $1 from hitting ath an hour ago, Sol is interesting as it's lagging now very far from ath I think Eth could hit ath today about $200 away, and then it could do a price discovery or retrace, as the ath price is resistance? I'm thinking of maybe picking one from a list, Eth, Sol, Bnb, Sui, Ena, Pendle, Pump, and put a perpetual futures position and just let it ride, liquidation or valhalla
I played around with SUI. It uses Move language from Facebook. RosyBucks are on it Pyth network looks good to as an oracle. A lot of trading firms are publishing prices.
the problem with pyth is it's 90% down from ath, lots of bagholders will sell at every rally, and then there's the market dominance of Link, which is also down 60% from ath, also has a lot of stuck bagholders it's L1 season currently, with Eth about to break ath, that's why I'm more interested in L1 for a perpetual futures trade https://app.hyperliquid.xyz/trade/SUI
I wouldn't give up on ADA just yet, it still has a lot of potential behind it. Charles Akons is in a really good position to help move it forward
That's what i'm thinking. We should have some resistance at Eths ATH, but shorting would be such a risky move with this bull market. I might just try to short 50% and if it fails buy back into Sui or Solana.