As a seasoned researcher with over a decade of market analysis under my belt, I find Michaël van der Poppe’s insights particularly insightful and well-informed, especially in the current volatile crypto market. His focus on sectors like AI and DeFi, which are poised for significant growth due to technological advancements and increased use cases, resonates with my own observations.
After the recent stock market downturn, crypto expert Michaël van der Poppe has shared his insights on Bitcoin‘s path and its effects on other cryptocurrencies. His focus was primarily on Bitcoin’s dominance within the crypto world and the preparedness of altcoin markets, particularly in fields such as Artificial Intelligence (AI) and decentralized finance (DeFi), for a possible recovery and substantial growth.
Initially, analyst Van der Poppe delved into the topic of Bitcoin dominance, which measures Bitcoin’s market value in comparison to the overall cryptocurrency market. Contrary to what many people think, the present level of Bitcoin dominance doesn’t indicate the start of a downward trend or bear market.
“He pointed out that Bitcoin’s influence in the market isn’t signaling the start of a downturn (bear market), but rather the end of one and possibly the beginning of an uptrend (bull market). This insight is significant because it implies that Bitcoin’s control over the market may be stabilizing, which could pave the way for a surge in altcoins and investments in lesser-known cryptocurrencies.”
After the financial crash, Van der Poppe emphasized the significance of carefully choosing altcoins based on their sector’s robustness and capacity for market recovery. He highlighted AI and DeFi as two sectors where growth might be exceptionally rapid thanks to technological progressions and growing use cases. Within these sectors, he pinpointed certain tokens that demonstrate traits of durability and high growth potential.
#1 TAO
In the AI industry, TAO, one of its tokens, has been singled out by van der Poppe for its impressive recovery in recent weeks, boasting a significant 70% surge from its bottom points. He commented that TAO is an extremely resilient asset within the AI sector and has demonstrated a 70% rebound.
As a seasoned investor with over two decades of experience in the tech industry, I have witnessed firsthand how groundbreaking technologies can reshape entire markets and create unprecedented opportunities for growth. The recent surge in the value of TAO, a promising AI-focused blockchain project, has caught my attention and piqued my interest.
#2 AAVE
In his advice, Van der Poppe emphasized the DeFi sector, particularly the token AAVE. He noted that AAVE has demonstrated impressive resilience compared to Bitcoin and USDT. Essentially, he said that AAVE is gradually accumulating value against Bitcoin and setting new records against USDT, preparing for a potential major surge.
He emphasized the relative undervaluation of AAVE by comparing its total value locked (TVL) to its market cap. “If we look at TVL versus the market cap, then the market cap of a is $1.5 billion and the TVL is around $10.3 billion which means that that valuation is 0.5. For ONDO it’s 15. It’s 100 times bigger so 0.5 is heavily undervalued where the regular valuation should be around 0.5 to 1 which means that there’s a lot of momentum to be made in,” he explained.
#3 RENZO
Beyond AAVE, Van der Poppe highlighted RENZO, another DeFi asset currently in a downtrend. However, it exhibits indications of approaching a lower price floor that might pique speculative interest and offer possible gains. He characterized RENZO as a riskier investment than AAVE, but pointed out that its undervalued state relative to its Total Value Locked (TVL) could provide an attractive purchasing option for investors with a high tolerance for risk.
The analyst pointed out, “Let me demonstrate RENZO for you. Its current market cap stands at $50 million, while its fully diluted valuation is $440 million. However, if we look at its Total Value Locked on DefiLama, it’s a staggering $1.3 billion. This means that, in terms of this metric, its valuation is lower than AAVE. But remember, there’s also a higher level of risk associated with investing in such an asset.”
#4 AEVO
In the end, Van der Poppe shifted his focus towards decentralized platforms like AEVO. He highlighted AEVO’s distinct market position, providing advanced trading features such as prediction markets, options, and hedging. “AEVO seems to be showing a bullish divergence and forming a falling wedge,” he suggested, hinting at the possibility of future growth and reversal.
In the market we’re in, these are the main investments I plan to make moving forward for the coming weeks, according to van der Poppe.
At press time, TAO traded at $294.22.
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2024-08-12 20:11