- A well-known crypto analyst, Altcoin Sherpa, has updated his long-term bullish outlook on Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs).
- ONDO is currently trading at $0.839, a significant increase of over 920% from its low of $0.082 earlier this year.
- On the other hand, the analyst predicts a bearish turn for layer-1 smart contract platform Sui (SUI) due to an upcoming token unlock.
Renowned crypto analyst Altcoin Sherpa shares his bullish outlook on Ondo Finance (ONDO) and predicts a bearish turn for Sui (SUI) due to an upcoming token unlock.
Altcoin Sherpa’s Bullish Outlook on Ondo Finance
Altcoin Sherpa, a pseudonymous analyst with a substantial following on social media, recently shared his long-term bullish outlook on Ondo Finance (ONDO). This project, which focuses on tokenizing real-world assets (RWAs), has been one of the best-performing coins and has held up well even amid a crypto market correction. According to Sherpa, ONDO is not just a good active trade but also a solid buy-and-hold investment.
ONDO’s Impressive Performance
Ondo Finance is currently trading at $0.839, marking an impressive increase of over 920% from its low of $0.082 earlier this year. This performance, combined with the project’s focus on tokenizing RWAs, has made it a leader in its niche and a strong investment option for those looking for long-term growth.
Upcoming Token Unlock Could Spell Trouble for Sui
While Sherpa is bullish on ONDO, he predicts a bearish turn for layer-1 smart contract platform Sui (SUI) due to an upcoming token unlock. Token unlocks, which increase the sellable supply of a cryptocurrency, are often perceived as bearish events. The next unlock for SUI is scheduled for late May, when the crypto project plans to distribute 999.23 million tokens among five stakeholders.
Conclusion
As the crypto market continues to evolve, investors need to stay informed about potential opportunities and risks. Altcoin Sherpa’s analysis provides valuable insights into two different projects – Ondo Finance and Sui. While the former appears to be a promising long-term investment, the latter could face challenges due to an upcoming token unlock. As always, investors should conduct their own due diligence before making any investment decisions.
