In the fast-paced world of cryptocurrency, staying ahead of the curve is crucial. Notable for identifying emerging trends and concerns in the crypto space was Miles Deutscher, a renowned cryptocurrency analyst and influencer. Deutscher once again shed light on some of the most compelling projects and narratives in the altcoin world by sharing a carefully crafted watchlist on Twitter this week.
GALA and KAVA were among the notable altcoin projects this week.
At the top of Deutscher’s radar is KAVA, a blockchain platform that has recently attracted a lot of attention from institutional investors. The catalyst for this new interest was KAVA’s integration with Fireblocks, a platform specializing in the secure storage and transfer of crypto assets. Deutscher highlighted how this integration positions KAVA as an attractive option for institutions looking to navigate the crypto world. Further strengthening KAVA’s profile, Deutscher noted that venture capital firm DWF Labs appears to have invested in the project.
https://twitter.com/milesdeutscher/status/1698773586704490653
On the other hand, Deutscher issued a warning regarding GALA, a gaming platform in the crypto space. It shed light on an alarming internal conflict as both founders of GALA took legal action against each other and raised allegations that could have far-reaching implications. Deutscher expressed concern that this internal turmoil could adversely affect the price of the GALA token and the future development of the project. In addition, Deutscher expressed concerns about the centralization of GALA as both founders own a significant portion of the nodes in the network. He argued that this centralization feature could undermine the project’s decentralization goals.
What’s next for PYR, MKR and SUI?
Deutscher also shared his views on MakerDAO’s (MKR) “End Game” initiative, designed to improve the scalability, security and decentralization of the platform. One notable proposal includes launching “NewChain,” a native chain built on the Solana codebase. While acknowledging the interesting potential of the initiative, Deutscher highlighted the controversy surrounding Ethereum co-founder Vitalik Buterin’s decision to sell the remaining MKR tokens in response.
Turning its focus to PYR, Deutscher highlighted the token’s resilience in the face of GALA’s woes. He observed that PYR performed strongly as liquidity flowed away from GALA and towards other gaming projects. In addition, Deutscher noted that SUI recorded an impressive 70% increase in Total Locked Value (TVL) last month, indicating an increase in demand and adoption. He suggested that SUI has the potential to experience significant growth if this trend continues.
UNFI, Livepeer, Bluzelle, SOL and CYBER are also on the watch list
Deutscher discussed tokens associated with DWF Labs. As Cryptokoin.com also reported, DWF Labs is a venture capital company and does not fall into the headlines in the field as it invests in many altcoin projects. However, according to Deutscher, altcoins, which saw a sharp rise following DWF Labs’ transactions, later exhibited erratic price movements. He noted UNFI, LPT, BLZ and CYBER as such coins associated with DWF Labs.
Deutscher finally addressed concerns about Solana (SOL). A legal dispute with FTX’s parent company, Alameda Research, led to Galaxy Digital being appointed as the custodian of SOL funds. Deutscher stated that a court order regarding the liquidation of these funds will be rendered on September 13, potentially resulting in forced sales of $200 million per week. He warned that this could have a significant impact on the price of SOL.
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