The Host of InvestAnswers Discusses Why He Is Extremely Bullish on Terra ($LUNA) and Solana ($SOL)
The host of the popular cryptocurrency commentary and market analysis show InvestAnswers recently explained why he is bullish on Ethereum rivals Terra ($LUNA) and Solana ($SOL).
In a recent YouTube video, the host of InvestAnswers stated that he is bullish on Terra because the project intends to back stablecoin UST with Bitcoin reserves.
According to The Daily Hodl, the host stated: “I’m a huge fan of LUNA. I’ve become almost excessively bullish on LUNA as a result of what they’re planning. Switching from an algorithmic to a Bitcoin- or even partially-Bitcoin-backed stablecoin could be a game changer.”
InvestAnswers asserted that the “sky is the limit” for $LUNA, citing Terraform Labs Co-Founder and CEO Do Kwon’s recent announcement that the company would acquire billions of dollars’ worth of BTC for its TerraUSD ($UST) reserves.
The show’s host was also bullish on Solana, claiming that investors appeared to be undervaluing the Ethereum competitor. He referred to Solana as the “best SCP (smart contract platform)” on the market and predicted that $SOL would break through its $150 price resistance.
“This is the best SCP (smart contract platform) available, despite the fact that it is still in beta and had some issues back in September, but it is grossly undervalued. Each and every one of the 19 metrics is outlandish. One is bad, and that is total value locked (TVL). It is not as bad as the others, but it is not as strong as the others because it does not provide the same level of incentives… However, I believe it is only a matter of time. If Ethereum reaches $4,000, I see Solana flying high, fast, and far, but anything is possible. Avalanche may reach $200. LUNA may reach $250. Solana’s value could hover around $150…”At the moment, my preferred pieces are Solana, and LUNA.