Renowned analyst Ran Neuner urged his followers to get rid of some altcoins, which he called “bad tokens.”
Neuner is confident that the market will start a parabolic move in the next 60 days, and these altcoins will significantly lag behind other coins. The list of outsiders includes Cardano (ADA), Ripple (XRP) and Worldcoin (WLD).
Neuner Slams Popular Altcoins
Neuner is particularly harsh on Cardano. He believes that ADA does not bring long-term value, especially in the decentralized finance (DeFi) sector. He points to several problems, such as the platform’s difficulty in use and the low number of daily transactions.
He also notes a decline in developer activity, which he believes makes the network less important than others. In addition, ADA has lost about 85% of its value compared to its 2021 peak.
Neuner’s expectations for Ripple also leave much to be desired. He acknowledges that XRP has a loyal following, but criticizes the volatile nature of XRP’s market performance, with sharp spikes followed by rapid declines.
Worldcoin has come under even more fire, with allegations of manipulation and poor tokenomics. According to TokenUnlocks, more than 83% of the total supply is locked. Unlocks starting July 23 could trigger a significant increase in sales.
Litecoin (LTC) and Algorand (ALGO) also made his list of tokens to avoid. Ran Neuner is also skeptical of former market favorites like IOTA, Axie Infinity (AXS), The Sandbox (SAND), VeChain (VET), Quant (QNT), and EOS. Most of these altcoins have lost significant value from the highs reached in previous bull cycles.
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Source: Cryptocurrency
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