Popular crypto trader and market analyst Scott Melker says he’s been loading up on one small-capitalization altcoin.
In a tweet published January 22, Melker told his followers he has been investing into the decentralized finance (DeFi) project MahaDAO (MAHA). Melker said MAHA made up a substantial portion of his investment portfolio and that he increased his position following the latest price dip.
$MAHA is one of my largest holdings, after investing in the presale and aggressively buying the recent dip. Excited that $ARTH is live and they are delivering. https://t.co/jNRW0tpk1c
— The Wolf Of All Streets (@scottmelker) January 22, 2021
MAHA serves as the governance token for the recently launched ARTH protocol, which seeks to reduce the price volatility plaguing most crypto-assets.
According to the project’s official webpage, “ARTH is a decentralized algorithmic stablecoin which combines the best features of basket-backed stablecoins and elastic stablecoins to create the world’s first “value-stable” cryptocurrency.”
MAHA investors can use the coin to vote on governance issues affecting ARTH.
Melker also told his followers to keep an eye on bitcoin and predicted BTC could undergo another wave of price momentum following the pullback to $32,000.
Pretty happy with this.
Has been predictable 3 of the last 4 times that the 4 hour RSI hit oversold. pic.twitter.com/pKew3IER3c
— The Wolf Of All Streets (@scottmelker) January 22, 2021
