Crypto Trader Starts Accumulating Little-Known Altcoin After 500% Price Surge
An influential cryptocurrency trader has recently revealed they are accumulating two little-known altcoins to their substantial audience on social media, noting that at least one of them is set to start receiving more attention in the near future.
In a post on the microblogging platform X (formerly known as Twitter), pseudonymous cryptocurrency trader TheFlowHorse told their over 180,000 followers that they are now accumulating the native token of the Solana-based sports betting and online gambling platform Rollbit ($RLB),” as well as the native token of crypto trading marketplace Open Exchange ($OX).”
TheFlowHorse revealed they believe that these assets are currently attractively priced after undergoing significant price corrections, and at a time in which American football season is restarting which to him could “attention to Rollbit as crypto futures dry up more.”
To the trader, both assets are “still underpriced, and the expected dip has been generous.”
Commenting on the investment in $OX, the trader noted that the cryptocurrency community tends to chase fleeting trends, which often leads to overlook undervalued assets.
According to the posts, if the wider community is largely dismissive of a token they interprets it as a possible opportunity. At the time of writing, OX is trading at $0.03 after losing about half of its value over the last 30 days, while RLB is down by around 6.3% over the same period to now trade at $0.15. RLB has notably seen its price surge over 500% since mid-June.
As CryptoGlobe reported, the cryptocurrency market may be facing an impending tremor, as an analytics firm has recently suggested that a potential $3 billion sell-off is looming, rooted in the potential liquidations of FTX’s massive cryptocurrency stack to repay creditors.
A recent court filing has recently revealed that the estate of the once-giant cryptocurrency exchange, which filed for bankruptcy in November after collapsing to a bank run, has disclosed assets totaling approximately $7 billion.
Out of these assets, the exchange’s holdings include $1.16 billion in Solana ($SOL) tokens and $560 million in Bitcoin ($BTC). The documents also detail billions in payments the firm made to senior executives, including founder Sam Bankman-Fried.
The filings reveal the company has secured $1.5 billion in cash, in addition to the $1.1 billion it had on November 11. It holds $3.4 billion in crypto, valued at the end of August. This does not factor in their collection of over 1,300 lesser-known tokens, including MAPS and serum (SRM).
Featured image via Unsplash.
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