In the fast-paced world of cryptocurrency, staying ahead of the curve is crucial. The person who stood out for identifying emerging trends and concerns in the crypto space was Miles Deutscher, a famous cryptocurrency analyst and influencer. Deutscher once again took to Twitter this week to shed light on some of the most interesting projects and narratives in the altcoin world by sharing his carefully curated watchlist.
GALA and KAVA were among the altcoin projects that attracted attention 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 stated that venture capital company DWF Labs appears to have invested in the project.
Weekly Token + Narrative Watchlist 🔎
The market may seem "boring" on the surface, but there's still plenty happening in the altcoin space.
Here's what I'm watching this week.👇$UNIBOT: Now down ~60% from its highs, with the recent sell-off triggered by a FUD-storm, coupled… pic.twitter.com/ngpA9nNXeq
— Miles Deutscher (@milesdeutscher) September 4, 2023
On the other hand, Deutscher made a warning about GALA, a gaming platform in the crypto space. It has highlighted a worrying infighting as both founders of GALA took legal action against each other, raising allegations that could have far-reaching implications. Deutscher expressed concerns that this civil unrest could negatively impact the price of the GALA token and the future development of the project. In addition, Deutscher expressed concerns about GALA’s centralization, 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, which is designed to improve the scalability, security and decentralization of the platform. One notable proposal involves launching “NewChain,” a native chain built on the Solana codebase. While Deutscher acknowledged the interesting potential of the initiative, he highlighted the controversy surrounding Ethereum co-founder Vitalik Buterin’s decision to sell his remaining MKR tokens in response.
Turning his focus to PYR, Deutscher emphasized the token’s resilience in the face of GALA’s troubles. He observed that PYR was performing strongly as liquidity flowed away from GALA and towards other gaming projects. Additionally, Deutscher noted that SUI recorded an impressive 70% increase in Total Value Locked (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. cryptokoin.com As we reported, DWF Labs is a venture capital company and makes headlines in the field by investing in many altcoin projects. However, according to Deutscher, altcoins that saw a sharp rise after DWF Labs’ transactions later exhibited irregular price movements. He pointed out UNFI, LPT, BLZ, and CYBER as such coins associated with DWF Labs.
Finally, Deutscher also touched upon concerns about Solana (SOL). A legal dispute with FTX’s parent company, Alameda Research, led to Galaxy Digital being appointed custodian of the SOL funds. Deutscher stated that a court decision regarding the liquidation of these funds will be made on September 13, which will potentially result in a forced sale of $200 million per week. He warned that this could have a significant impact on the price of SOL.
