A cryptocurrency influencer, venture capitalist, and angel investor recommended his followers to “sell your watch” and put in one of three altcoins for a “50x” return. If the market goes as expected, this move could result in a $5,000 holding, considering an average $100 watch.
Finbold reported earlier this weekend that analysts are getting increasingly bullish on altcoins, with an altseason “just around the corner.” In this context, the influencer who goes by That Martini Guy named three cryptocurrencies he believes offer great potential.
As posted on September 21, one of these altcoins will be able to turn $100 into $5,000.
“Sell your watch. Put it into an altcoin like EGLD, BLAST, or DOP. One of these will 50x. I don’t know which one, but one of them will, they are all great.”
– That Martini Guy
MultiversX (EGLD) for a 50x return this cycle
First, the crypto influencer and VC suggested people to “sell [their] watch” and put the money into MultiversX (EGLD). Finbold recently selected EGLD as one of the two cryptocurrencies with the potential for a 900% return in this bull run.
Its appeal relies on being one of the most-scalable chains while keeping the decentralization and security, thanks to sharding. Notably, MultiversX was named the “technological holy grail of crypto” by Justin Bons, the CIO of Europe’s oldest cryptocurrency fund.
Moreover, we also reported three startups building and launching real-world solutions on top of MultiversX, innovating on different areas.
EGLD has a capped supply of 31.4 million and currently trades at $28.77, with 57.66% losses year-to-date. The project is ranked among the top 100 cryptocurrencies with a market cap of $790 million.
MultiversX (EGLD) year-to-date price chart. Source: Finbold
Blast (BLAST)
That Martini Guy‘s second recommendation is Blast (BLAST), a $200 million market cap altcoin ranked in the 228 position. The token is trading at $0.01043 by press time, recovering from a one-month crash down to $0.00785.
Essentially, Blast is an Ethereum (ETH) second-layer built to help scale Ethereum using a modular approach, similar to Bitcoin (BTC). The network claims to be the only “L2” to offer native yield for ETH and stablecoins from staking and protocols.
Blast (BLAST) one-month price chart. Source: CoinMarketCap / Finbold
Data Ownership Protocol (DOP)
Finally, the third altcoin is the Data Ownership Protocol (DOP) token, a small cap with only a $20 million valuation. This fact also makes DOP the most risky investment among the three, having significantly less liquidity, volume, and soundness.
As of this writing, DOP is trading at $0.002679, still with 65% of impending supply inflation. The chain uses zero-knowledge proof technology to address data management on top of Ethereum.
Data Ownership Protocol (DOP) price chart. Source: CoinMarketCap / Finbold
However, traders and investors must be cautious while speculating in any of these or other cryptocurrencies. The cryptocurrency market can be extremely volatile, and selling goods to speculate should not be encouraged.
Furthermore, market participants should avoid blindy following influencers and other investors recommendations, as illustrated in a recent report involving Arthur Hayes and Pendle (PENDLE).
In particular, Hayes predicted PENDLE to reach $10 but dumped over half of his position millions below $4 per token.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
The post 3 cryptocurrencies to turn $100 into $5,000: ‘Sell your watch’ appeared first on Finbold.