Layergg, a popular crypto analyst with an impressive following of 80,000 on X, shared his weekly token and narrative watchlist, highlighting several promising cryptocurrencies and their potential narratives. With a keen analytical eye, Layergg’s recommendations are worth looking at.
The first cryptocurrency on Layergg’s radar is Stacks (STX). As Bitcoin’s halving approaches in approximately a month, he anticipates that liquidity might shift towards Bitcoin-related projects, including meme, AI, and Layer 2 tokens. Stacks, being the most representative Bitcoin-beta play, holds particular significance due to the upcoming “Nakamoto Upgrade” milestone scheduled for April.
Quoting Layergg, “As Bitcoin’s halving approaches in about a month, L2/Meme/AI liquidity might move towards Bitcoin-related projects. – Stacks is the most representative Bitcoin-beta play, with the important milestone ‘Nakamoto Upgrade’ scheduled for April.”
Moving on, Layergg highlighted Rune (RUNE) and Lends (LENDS) as potential investments. Recent developments, such as Rune reaching an all-time high in Total Value Locked (TVL) and on-chain volume following an increase in loan limits and a 60M RUNE burn, have caught his attention. He suggests that Lends, a new coin with a low market cap, could be a Rune beta play.
“Recently, $RUNE has reached an all-time high in TVL/on-chain volume following the increase in loan limits (60M $RUNE Burn). – $LENDS could be a $RUNE beta play. (New coin + Low cap),” Layergg tweeted.
Maker (MKR) is another cryptocurrency on Layergg’s watchlist. With Ethena becoming the highest-earning DApp after breaching $6.8M in daily cumulative revenue over the past week, Layergg believes that MakerDAO could benefit indirectly. He expects an increase in MakerDAO’s revenue, which should result in more MKR tokens being burned, potentially driving up the token’s value.
Quoting Layergg once again, “Ethena has become the highest-earning DApp after breaching $6.8M in daily cumulative revenue over the past week. – MakerDAO benefits indirectly from Ethena. (DSR increasing to 15% APY) – This is expected to lead to an increase in Revenue, which should result in more $MKR being burned.”
Arbitrum (ARB) is also on Layergg’s radar, with 1.1 billion ARB tokens scheduled to be unlocked on March 16. While shorting may not be advisable due to the potential for a cartel pump to squeeze out short positions, he draws a parallel to the large unlock in Solana on January 11, 2021.
“1.1 billion $ARB tokens are scheduled to be unlocked on March 16. – Shorting may not be advisable as there could be an cartel pump to squeeze out short positions. – Consider the case of the large unlock in Solana on January 11, 2021,” Layergg cautioned.
Lastly, Layergg highlighted Ronin (RONIN) and Pixels (PIXEL) as promising gaming-related cryptocurrencies. Ronin chain boasts 920K daily active users (DAU), holding the title for the most users among gaming chains. As other ecosystem games, starting with Pixels, provide airdrops to RONIN stakers, Layergg sees potential in these tokens.
“The Ronin chain boasts 920K DAU, holding the title for the most users among gaming chains. – Beginning with Pixels, other ecosystem games will also provide airdrops to $RON stakers,” he noted.
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Show more +Regarding Pixels, Layergg highlighted its impressive DAU of over 500K, even after the conclusion of the P2A (Play-to-Advance) phase. With plans for a sustainable P2E (Play-to-Earn) model and the official launch of the guild system expected to further increase user numbers, he draws parallels between Pixels and Axie Infinity (AXS) in terms of user growth potential.
“Pixels’ DAU has surpassed 500K, even with P2A having concluded several weeks ago. – Aiming for sustainable P2E, $PIXEL has the potential to be this season’s $AXS in terms of user numbers. – The official launching of the guild system is expected to increase user numbers further,” Layergg stated.
With a diverse range of cryptocurrencies on his watchlist, from established projects like Stacks and Maker to emerging gaming tokens like Ronin and Pixels, Layergg’s analysis provides valuable insights for investors and traders alike. As the crypto market continues to evolve, keeping an eye on respected analysts like Layergg can help navigate the ever-changing landscape and identify potential opportunities.
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