Altcoin Investing Advice for 2021 From Alex Saunders
On Dec 25, 2020
Alex Saunders, one of the well-known crypto strategists, named the altcoins that it would be useful to hold in the portfolio for 2021.
The year 2020 has been quite successful for the cryptocurrency market, especially after the Bitcoin (BTC) halving in May. Following 2017, 2020 was added to the cryptocurrency calendar as a historic year. This year, Bitcoin has experienced both $ 4,000 and $ 24,000 levels. Besides, altcoins have also attracted incredible attention and demand. With less than a week to start in 2021, crypto analyst Alex Saunders drew attention to other cryptocurrencies besides Bitcoin and Ethereum.
The analyst announced the best altcoins to be included in portfolios in 2021. He said that he is bullish on DWeb, known as DeFi, gaming, and Web 3.0. Saunders demonstrated how to share a hypothetical $ 1000 investment into cryptocurrency projects other than Bitcoin and Ethereum.
What Altcoins Are Good Investments?
Alex Saunders points out that some of the top 20 assets are actually “ghost chains.” He believes that projects such as Bitcoin Satoshi Vision, Bitcoin Cash, and TRON should be avoided. Instead, he said, investors should invest in DeFi and allocate about a third of their portfolio to the top 10 DeFi projects.
In an interview, the famous analyst said that he is bullish on decentralized exchanges, especially Uniswap (UNI) and SushiSwap (SUSHI). Saunders says he thinks these exchanges will go up. He proposes to allocate a third of the hypothetical $ 1,000 portfolio to top gaming projects such as Enjin (ENJ) and virtual reality platform Decentraland (MANA).
The analyst has also recently invested in RedFOX Labs, a DeFi, dApp, and NFT incubator, which received an investment from Mike Novogratz and Galaxy Digital. Saunders is also exploring an old Ethereum-based project called Game Credits (GAME).
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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as an investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.