Analyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of FTX and Sam Bankman-Fried

by Cryptospacey

A well-liked crypto analyst is laying out his predictions for Solana (SOL) and a handful of different altcoins after this month’s digital asset market fallout.

The pseudonymous dealer Altcoin Psycho tells his 10,700 YouTube subscribers that if Bitcoin’s (BTC) value stays secure, SOL may bounce as much as $17 earlier than breaking again down once more.

General, he thinks Solana will in all probability break beneath the $12 stage and crash all the way in which to $3 given how a lot the community continues to be “in limbo.”

SOL is buying and selling at $13.07 at time of writing. The Seventeenth-ranked crypto asset by market cap is up 14.62% previously 24 hours.

Altcoin Psycho is much more bearish on the decentralized derivatives alternate Serum (SRM). The analyst thinks the venture’s overlap with the collapsed crypto alternate FTX will trigger it to crash and burn all the way in which to $0.

SRM is buying and selling at $0.251363 at time of writing. The 212th-ranked crypto asset by market cap is up greater than 7% previously 24 hours.

Altcoin Psycho warns his subscribers to keep away from FTX’s collapsed native token, FTT.

“Don’t ever purchase this one until you need to short-term commerce it. And the factor is, there may be not going to be any natural bid since you’re simply going to be buying and selling towards another degenerates that need to flip this factor actually shortly. So, yeah, don’t ever purchase this, for my part, for any form of longer-term trades. It appears horrible. This may go to $0, although. Finally.” 

The analyst can also be bearish on the decentralized alternate SushiSwap (SUSHI). He says he doesn’t “see any cause to purchase this token.” He thinks it would drop to $1 after which probably go even decrease.

SUSHI is buying and selling at $1.21 at time of writing. The 128th-ranked crypto asset by market cap is up greater than 7% previously 24 hours.

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Featured Picture: Shutterstock/studiostoks



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