According to cryptocurrency influencer and analyst Nicholas Merten, there are six crypto assets that traders should be keeping an eye on. As the DeFi (decentralized finance) sector gets set to have its value skyrocketed, Merten believes that there are certain cryptocurrencies that take precedence over others, and we are going to look at these in-depth in this article.
DeFi ‘supercycle’ could be en route
The cryptocurrency analyst had broken down the top decentralized finance players that investors and consumers should be looking at. It was during a YouTube video titled ‘Defi altcoins set to spike’ that the founder of DataDash informed his audience of a possible decentralized finance ‘supercycle’ that may be upon us soon. His channel currently has over 426,000 subscribers, and the aforementioned video has garnered over 44,000 views in less than two days.
Merten believes that the first asset we should be looking at is DAO (DHT). This is a derivatives project, and Merten himself is quite seemingly bullish on the DHT/BTC pair. He admitted to using the product personally and thus has a personal investment in the token, so there might be a little bit of bias here. Nevertheless, he explained that derivatives themselves are essentially a wide box of various assets. Through derivatives and synthetic assets, he added, one could gain exposure to all kinds of asset indexes or classes.
Next up, Merten wants traders to look at SUSHI and UNI. These are the native cryptocurrencies of the two famous decentralized exchanges (DEXs), SushiSwap and Uniswap, respectively, and the analyst believes that both are very interesting as far as a technical point of view is concerned. Moreover, as far as a personal investment goes, Merten is only really interested in Uniswap, as he believes that the SUSHI/BTC pair’s price is a bargain in comparison to the levels that had been reached earlier on in the year.
Yield farming is a big player
Although Merten himself does not care much for yield farming, he has nevertheless stated that it is a key player to watch going forward. He has therefore listed yearn finance and the YFI/BTC as his next pick. Merten’s interest in this is based purely on the analysis of a technical setup here and has insisted that the play is not fundamental.
1inch is next on the watchlist, as Merten has stated that the 1inch/BTC pair is interesting both from a fundamental and technical perspective. He says that apart from the 1inch chart looking bullish lately. It also solves plenty of issues pertaining to liquidity problems, gas inefficiency, and slippage. Lastly, Merten says traders should keep an eye on the WARP/BTC pair.
