If Bitcoin (BTC) continues to tumble, four Ethereum (ETH) competitors, according to a renowned crypto expert, have a grim future.
Altcoin Sherpa, a pseudonymous trader on Twitter, warns his 176,100 followers that smart contract-enabled blockchains Solana (SOL), Avalanche (AVAX), Polkadot (DOT), and NEAR Protocol (NEAR) price are all set to lose nearly half of their value if Bitcoin continues to plummet in value.
Sherpa claims that If Bitcoin price sees another leg down, then DOT, SOL, AVAX and NEAR will tumble another 50% from their current levels.
At the time of publication, Polkadot is changing hands at $9 with a fall by 3.84% over the last 24hrs.
The next token that the analyst talks about is Solana which is currently trading at $41.76 with an increase of 1.11% over the last 24hrs.
The third currency that is on the strategist radar is Avalanche which is changing hands at $22.72 with an upswing of 1.83% over the last 24hrs.
Altcoin Sherpa then charts NEAR or Near Protocol which is trying to settle at $4.86 with a downfall of 3.24% in the past 24hrs.
At the time of writing Bitcoin is valued at $28,882 which is down by more than 28% in the last 30 days.
TRON Price To Rise By 40%
Altcoin Sherpa has a negative impression on all the four Ethereum competitors. Yet he believes TRON (TRX), a blockchain built as a decentralized storage and distribution network for social media and digital entertainment material, has some upward potential.
TRON might rise by almost 40% from present levels. But only if the price of Bitcoin “stabilizes,” as per to Altcoin Sherpa, as the crypto asset’s inventor, Justin Sun, announces new projects.
Justin Sun just announced USDD (USDD), an algorithmic stablecoin based on the TRON blockchain that is supposed to swap one for one with the US dollar. The market capitalization of the USDD is now about $577 million.
Altcoin Sherpa claims that TRX: One of the few coins where you can search for longs; wouldn’t do it right now, but Justin Sun’s sh**coin is rising upward. If BTC stabilizes, I expect this to rise to $0.12.