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I think this thread hook could be improved.
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I think this thread hook could be improved.
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Does it bleed against Ethereum?
This is the question routinely posed by Ben Cowen @intocryptoverse when deciding which alts to hold in your portfolio...
Observations for L1s $FTM & $LUNA 👇
2/
Why is the ALT/ETH valuation important?
Holding a blue chip like ETH (or BTC) is inherently less risky than ALTs.
Therefore, if your favorite ALT's price action cannot keep pace or outperform, you would be better off simply holding ETH.
3/
$FTM: Despite recent bearish price action, I was surprised to see FTM is NOT bleeding against ETH... In fact, it's holding up remarkably well.
4/
$LUNA: Given recent bullish price action, it's not a surprise Luna is oscillating against ETH.
However, I was surprised to see how similar this chart looks to the FTM/ETH chart above.
5/
For your reference, here is an example of $LTC - a very obvious bleeder against ETH.
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I highly recommend checking out Ben Cowen's @intocryptoverse premium list for more charts & data which are incredibly helpful when DYOR!
