The host of the InvestAnswers YouTube channel believes that one crypto project running on the Solana (SOL) network will go on a bullish rampage.
The InvestAnswers host tells his 472,000 YouTube subscribers that the decentralized exchange (DEX) aggregator Jupiter (JUP) could surge by “somewhere between a 4x and an 8x to be conservative.”
The trader’s big price prediction comes from his analysis of Jupiter’s fundamentals. According to the InvestAnswers host, Jupiter is witnessing strong network activity based on trading volume and monthly active user count.
“If this thing takes off, if this DEX takes all the business, this is going to shoot up the CMC charts. And currently, it’s on the CoinMarketCap at [position] 71. It just launched. 71.
When you look at all the assets above 71, there is no asset that had this number of monthly active users, this number of trading volume, this amount of growth. Every single metric blows all of the ones above it out of the water. Therefore, I’m very convinced it’s going to go up as long as it doesn’t break down.”
The crypto analyst also says that Jupiter does everything and addresses many of the pain points that he experienced over the years using different decentralized exchanges.
“You can swap, you can do perps [perpetual contracts], leveraged trading, you can dollar-cost average, you can go cross-bridge. There are I think 6,000 pairs you can trade. And you can do it in real-time with no friction.
It’s been my dream since 2020 after having the painful experience of working with decentralized exchanges in the past and working with wallets and paying crazy fees.”
Jupiter is trading at $0.582 at time of writing.
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Source: https://dailyhodl.com/2024/02/03/brand-new-solana-based-altcoin-for-doing-everything-to-explode-by-up-to-700-according-to-investanswers/