A closely followed crypto analyst says a hot altcoin hasn’t even seen real gains yet, despite recently taking a 3x in less than a month and predicting that Binance Coin (BNB) is also destined for new all-time highs. time highs.
The pseudonymous analyst known as The Crypto Dog tells his 746,000 followers that he is optimistic about GMX, a decentralized exchange (DEX) that specializes in perpetual futures and aims for low swap fees and trading with no price impact.
Despite the Crypto Dog . already rose more than 200% from the $15 range to over $45 in July, say that GMX, the utility token of the DEX, is itching to move higher as price trades near an area with a very small volume profile.
“Not much GMX has traded above this price. I think the empty space here will act as a vacuum past.
It’s basically been a year-long accumulation between $20-$40.”
According to the analyst, GMX has “not started” on its trip.
Along with GMX, the crypto analyst is also bullish on Binance Coin (BNB), the native token of Binance, the world’s largest digital asset exchange in USD volume.
The analyst says both coins are “outliers” that are likely to remain bullish and withstand Bitcoin dips.
“Seriously, though it’s nice to just focus on outliers that are clearly more bullish than the rest of the market and sit on them.
If a token’s stock is hoarded, it really doesn’t matter if BTC drops here and there.”
In particular the Crypto Dog say BNB is supported by Binance’s strong reputation as a company and the character of the exchange’s CEO, Changpeng Zhao (CZ).
“It may feel weird going heavy in BNB, but man Binance has a solid track record of looking after their holders.
CZ has been publicly optimistic since the bottom and has spoken vocally about being financially stacked.
In my mind, the all-time high against the US dollar is just a matter of time. I think it’s reasonable.”
At the time of writing, GMX is trading at $41.17 while BNB is changing hands at $311.
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