The host of popular crypto commentary and market analysis show InvestAnswers recently explained his bullishness on Ethereum competitors Terra ($LUNA) and Solana ($SOL).
Speaking in a recent YouTube video, InvestAnswers’s host told subscribers that he is bullish on Terra due to the project’s plans to back stablecoin UST by Bitcoin reserves.
As reported by The Daily Hodl, the host said:
“I love LUNA. I have become almost super bullish about LUNA because of what they have planned. Flipping from an algorithmic stablecoin to a Bitcoin-backed or even partially Bitcoin-backed stablecoin could be an absolute game changer.“
InvestAnswers claimed that the “sky’s the limit” for $LUNA, and highlighted Do Kwon, Terraform Labs Co-Founder and CEO Do Kwon’s recent announcement that the company would be purchasing billions of dollars worth of BTC for its TerraUSD ($UST) reserves.
The show’s host also bullish on Solana, and claimed that the Ethereum competitor appeared to be undervalued by investors. He called Solana the “best SCP (smart contract platform)” on the market and predicted that $SOL would overcome its price resistance of $150:
“This is the best SCP (smart contract platform) out there, despite it just being in beta mode and having its problems back in September, but it’s completely undervalued. Every single metric, 19 metrics are bombastic. One is bad and that’s total value locked (TVL), not bad but not as strong as others because they don’t give the same level of incentives… But I think it’s only a matter of time. If Ethereum runs to $4,000, I definitely see Solana going high and fast and far, but you never know what could happen. Avalanche could hit $200. LUNA could hit $250. Solana could languish around $150…
“So right now my preferred piece would be Solana number one and LUNA number two.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.