The latest trend of 2021 has been metaverse coins/tokens for play-to-win (P2E) games. According to a popular crypto analyst, a blockchain-based gaming ecosystem and other select altcoins could accompany this momentum as an Ethereum rival prepares for the rally.
ETH-based metaverse and NFT coin projects could rally if Bitcoin “plays nice”
Starting with a newly launched altcoin, Altcoin Sherpa was created by the founders of Bored Ape (BYAC) and has a market cap of 2 billion says ApeCoin (APE), which is rapidly overtaking the dollar, is wary of its risk/reward ratio (R:R):
bullish market structure still intact on lower timeframes; I personally would mind that as I don’t think R:R is that good for a swap. In terms of investment, it’s also (very) high valuation (in my opinion). It did, however, show that it could be bought on a drop.
“Time to take profits”
Altcoin Sherpa is also wary of enterprise-grade blockchain platform Fantom (FTM). He’s following a tweet on March 19 in which he advises investors to reduce their risk because he thinks there won’t be a “full” alt season or one when altcoins outperform Bitcoin (BTC) significantly.
Again a friendly reminder to take profits in Altcoins. Your $2.70 FTM purchase probably won’t get to that level, take the L next move.
Metaverse coin projects AXS and SAND exhibit similar price movements
Sherpa then takes a look at Ethereum-based metaverse coin The Sandbox (SAND). He says the price action is similar to his other metaverse game, Axie Infinity (AXS):
Similar to the earlier AXS. If AXS starts pumping hard, you could probably consider buying some metaverse coin projects; I think those leftovers will do a really good job as well.
The crypto strategist is also optimistic that if BTC also rises, the scaling resolution protocol Near (NEAR) can exceed $16. Looking at the technical chart below, he says:
As long as BTC plays well, I think we will hit $16 or more in the coming weeks. This has been cutting for 2 months, I guess it will expand soon.
Bitcoin (BTC) is trading at $44,556.89 to reach the $45,000 resistance at the time of writing. As we quoted as Kriptokoin.com, Terra’s more than 3 billion Bitcoin purchases helped the bulls this week.
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