Veteran crypto strategist Nicholas Merten is closely watching a DeFi altcoin project, which he says has the potential to double its value in the coming days.
Successful analyst: Popular altcoin Loopring is preparing for its next move!
Successful analyst Nicholas Merten tells 378,000 YouTube subscribers in a new DataDash episode that DeFi exchange Loopring (LRC) is preparing for the next move. Nicholas Merten points out that decentralized finance (DeFi) cryptocurrency is now consolidated. Nicholas Merten adds the following to his comments on the subject:
IN TECHNICAL SIGNIFICANCE HERE, THE PRICE MOVEMENT LOOK GOOD. WE HAVE LOWER HILLS, HIGHER BOTTOMS, WE ARE CONSOLIDATED. THE VOLUME HAS DECREASED DURING THE GAP HERE. WE WILL BE ABLE TO SEE IF WE CAN GET A BREAK (0.45 DOLLARS) HERE IN THE PREVIOUS WEEK, ABOVE THIS RESISTANCE LINE AND REALLY START CLIMBING HERE. THESE ARE THE TECHNICAL MODELS OF THE KIND YOU LOOK FOR IN ALTCOIN CYCLES …
Nicholas Merten: The Loopring project has strong foundations!
In addition to Loopring’s promising technical setup, the analyst explains why the project has strong fundamentals. Nicholas Merten adds the following to his comments on the subject:
LOOPRING IS A DECENTRALIZED EXCHANGE OR A MORE SPECIFICALLY AUTOMATED MARKET MAKER. WE CAN INTERACT WITH YOU AND MY SMART CONTRACTS, AND WE CAN DO NOT HAVE ANY CURRENT COST AT ANY TIME OF THE DAY. IT CAN EXCHANGE THE FIRST ASSET I HAVE TO ANOTHER ASSET AND IMMEDIATELY TAKE IT IN MY WALLET
“Ahead of the curve when it comes to implementing Loopring second layer solutions”
The famous trader adds that Loopring is ahead of the curve when it comes to implementing second layer solutions. Nicholas Merten adds the following to his comments on the subject:
FOR THOSE WHO DO NOT KNOW WHAT ZKROLLUPS IS, THIS IS NOT A PROBLEM. THIS IS A SECOND LAYER SCALING THAT ALLOWS YOU TO MAKE A LOT OF CALCULATING ACTIVITIES AND SAVE COSTS ON THE ETHEREUM CHAIN TO KEEP IT SIMPLE, SHORT AND INTUITIVE AT THE END OF THE DAY. OVERALL, THIS MAY MEAN THAT WE CAN HAVE EXTREMELY CHEAP TRANSACTIONS TO EXCHANGE ON A PLATFORM LIKE LOOPRING AND ALSO HAVE THE SAME SECURITIES THAT YOU WILL HAVE ON THE ETHEREUM NETWORK.
Nicholas Merten: Cryptocurrency will go up to $ 1 in early February!
The crypto analyst also emphasizes that the total value locked on Loopring (TVL) is also rising. Nicholas Merten adds the following to his comments on the subject:
THE TOTAL VALUE LOCKED HERE CONTINUES TO INCREASE SINCE THE BEGINNING OF THE YEAR, MORE THAN THREE TIMES HERE, THAT IS REALLY EXCITING FOR ME AS PERSONAL. I LOVE TO SEE SUCH GROWTH IN GENERAL. IF I WANT TO CONTINUE MY TRUST IN LOOPRING, I WANT TO CONTINUE TO SEE THIS GROWTH.
Nicholas Merten states that he expects the DeFi coin to rise as high as $ 1.00 in early February. This figure represents an increase of about 130% from the current value of the cryptocurrency at $ 0.44. We have previously reported, Nicholas Merten “Even Gave Levels to learn about other altcoin projects he believes will explode!” You can view our article titled “Leader Trader Announces the Most Rising Altcoins of 2021”.