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The leading analyst in the cryptocurrency markets indicated that the rise for two altcoins within the Bitcoin (BTC) ecosystem will continue as the markets strengthen. Here are the critical statements about the two cryptocurrencies!
Analyst Accumulates Stacks!
Known as The Flow Horse on social media, cryptocurrency analyst X claimed to his followers that he had started taking a position in Stacks (STX). Stacks is a project that aims to allow the construction of decentralized finance (DeFi), non-fungible tokens (NFT), and other decentralized applications on the Bitcoin network. The analyst stated the following in his declarations:
I started to create a position in STX, also known as Ape most, and then began to scale as much as I could. Looking from the perspective of a higher time frame, the trend is starting to slope upwards, and some fundamental signals are turning green. All critical volume levels are being retaken. The Spot CVD (cumulative volume delta) at CB (Coinbase) has only been rising for the last two weeks, and OI (open interest) has performed well. With the arrival of BTC ETFs (exchange-traded funds), we will soon see the market re-rate this.
At the time of writing, it was trading at $0.835, approximately a 5% increase over the last 24 hours.
Price Increase Trend in ORDI
Later on, The Flow Horse expressed his anticipation of a rise in Ordinals (ORDI), a project aiming to add value to every Satoshi, the smallest unit of Bitcoin. The expert said the following on the subject:
Am I missing something, or is it obvious from a technical and behavioral standpoint that ORDI has been around for such a long time? There’s no trick – the FDV/MKT (fully diluted value to market capitalization) ratio is 1:1. Reclaiming all levels is also known as if you have sold, like you sold too early and were mistaken.
At the time the article was written, ORDI was trading at $31.82, representing an increase of over 34% in the past day according to data from the website 21milyon.com.
