Top Crypto Analyst Says He Plans To Build Large Position in This Relatively Unknown Altcoin

1 week ago 4

A prominent crypto strategist and technical analyst is revealing his plan to build a big position in an under-the-radar altcoin. 

In a new tweet, the pseudonymous analyst known as Cantering Clark tells his 53,000 followers that he’s looking to accumulate a new breed of crypto asset that targets both users of the decentralized finance (DeFi) space and portfolio managers.

“Another project I am very keen on building a larger position in over the next year. DEXTF.”

DEXTF is an asset management protocol designed to make it easy for users to diversify their investments. The little-known project uses the XTF fund token which functions like an index fund but instead follows the performance of certain crypto assets.

Source: Medium

Fund managers can create and mint new XTF fund tokens that track the performance of various cryptocurrencies, allowing users to get exposure to a broad range of coins in one investment. According to the protocol’s website, holders can trade their XTF token funds on-chain just like exchange traded funds.

DEXTF is backed by a non-anonymous team of seasoned finance and investment professionals, including economist Alex Krüger who acts as an advisor for the project.

Krüger, bullish on the protocol, tells his 65,000 Twitter followers that DEXTF will be launching structured products or pre-packaged investment vehicles “very soon” with the goal of eventually becoming a massive revenue source of DEXTF holders once on-chain options markets pick up more steam.

Structured products launching on DEXTF very soon. Structured products represent a major source of revenue for investment banks. Once onchain options markets grow in size, structured products should take DeFi by storm and become a major source of revenue for $DEXTF holders.

— Alex Krüger (@krugermacro) February 20, 2021

At the time of writing, DEXTF is trading at $2.73 with a market cap of $39.3 million.

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