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Cryptocurrency analyst and trader Michaël van de Poppe is highlighting a Solana (SOL) competitor that he believes could skyrocket massively during this cycle.

In a new video, Van de Poppe tells his 166,000 YouTube subscribers that the native token of the layer-one blockchain Sei (SEI) possesses a “lot of upside” potential.

According to Van de Poppe, Sei could go up by between 1,188% and 3,765% from the current level.

“…If we have an estimate of anything between $50 to $100 billion [in Sei’s fully diluted valuation], knowing that the ecosystem is currently growing as big as it is and that it’s exceeding the inflation of the token, it seems likely that anything between $5 to $15 is going to be the peak for Sei… which at current valuations is between 10x to 40x as a potential sort of number that we’re going to get to.”

To kick off the upward trajectory, Van de Poppe says Sei needs to climb by nearly 30% from the current level in order to overcome a major resistance zone.

“Now if we look at the technical analysis, then it’s just consolidating in a very narrow range. And what we want to see is that it breaks back above $0.50 because then it’s going to take all the liquidity above the recent highs. And if it does that, it’s going to exceed its run just like Sui did and have a new all-time high.”

Source: Michaël van de Poppe/Youtube

Sei is trading at $0.388 at time of writing.

 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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