Crypto strategist and trader Josh Rager says that one decentralized finance (DeFi) asset that has already meteorically risen this year may be gearing up to ignite a new rally.
In a new tweet, Rager tells his crew of 91,000 that YF Link (YFL) is tremendously undervalued. At its current price of around $584, he says YFL has an upside potential of over 71% as the project’s fundamentals show signs of growth.
“Why YFL is still under $1000 is far beyond me – as it’s about to have some major total-value-locked on their platform. This team knows what they’re doing.”
YFL, which is a fork of the yearn.finance project that brings yield to the LINK community, surged from a low of $11.91 in mid-August to $1,879 in early September according to CoinGecko – representing an increase of 15,676% in a few weeks.
The trader is also ultra-bullish on Bitcoin (BTC). As long as BTC closes November above the monthly high of $13,880, Rager believes the leading cryptocurrency can launch a massive bull market that catapults Bitcoin to above $100,000 next year.
“Every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1,000% uptrend has followed. November could be the first monthly close that we see breaking the previous high and historically that’s been a very bullish sign for the crypto market.”
The crypto analyst is also keeping close tabs on Ethereum (ETH). He says the leading smart contract platform is still consolidating but it can recapture its bullish steam once ETH recovers a key level.
“ETH slowly grinding up to retest highs from September. A break above $482 and I’ll likely look at $500+ targets for the first time since 2018.”
In addition, Josh Rager is looking at other DeFi assets. The trader tells his followers that there are opportunities to generate profits in farming the Gameswap and (GSWAP) and Shroom.Finance (SHROOM) pool.
Rager is also watching the ascent of decentralized gaming platform Axie Infinity (AXS), which he says is flying under the radar while in the midst of a parabolic rise.
“Axie Infinity quietly making 330% gains over the past week. This has been one of the strongest assets even during the Bitcoin/ETH pullbacks.”