Crypto Analyst Closely Watching These 5 Cryptos ‘Exhibiting Strength’
In Brief
- Crypto analyst Miles Deutscher identifies top-performing crypto tokens resisting the market trend amid volatility.
- Solana remains resilient despite recent network issues, according to Deutscher’s analysis.
- JUP, Jupiter exchange’s native token, gained substantial hype pre-launch, with potential for future airdrops.
Crypto analyst Miles Deutscher declares the choppy market faced by the crypto industry and outlines his top picks of crypto tokens that resist the prevailing trend.
He highlights Solana in particular, which recently faced a power outage but has held up fairly well during this period of uncertainty.
Crypto Analyst Miles Deutscher on Solana
Deutscher noted a decline in sentiment surrounding Solana since its network experienced issues just yesterday.
“However, due to the outage this morning, sentiment is obviously worsening. Any retests of the $80 region is a buy for me. Waiting to see where things settle.”
This comes amid Godleak reporting that a noted Solana validator, on X, the Solana network’s Mainnet-Beta is under scrutiny by core engineers and validators to address the halt.
“Solana Mainnet-Beta is experiencing a performance degradation, block progression is currently halted, core engineers & validators are actively investigating.”
The price did not experience much volatility over the past 24-hours, dropping less than a 1%. Over the past 7-day period Solana has dropped approximately 5%.
At the time of publication, Solana’s price is $96.84.
Furthermore, he discusses Jupiter (JUP), the native token for Jupiter exchange, which garnered immense hype prior to its launch last week.
“Chart wise, it looks solid (seems to be finding a price floor), and the CEO also hinted that JUP stakers are eligible for future airdrops – following a similar playbook to TIA and MANTA”
Deutscher Says JUP ‘Looks Solid’
His reasons were based on Vance Spencer’s explanation in a post on X:
“Going to be hard to compete with the Ethereum onboarding funnel – Gaming L2s (IMX, Ronin) – Corporate L2s (Base, Worldcoin) – Social L2s (Lens, Farcaster) – All of the other (hundreds?) of L2s spitting out tokens to acquire users.”
Deutscher is also keeping a close eye on MATIC, FXS, and MKR.
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