A closely followed crypto trader is turning bullish on Toncoin (TON) and says one large-cap altcoin is setting up to be the “dark horse” of the market cycle.

Pseudonymous trader Loma tells his 303,000 followers on the social media platform X that he’s looking to accumulate TON, the native asset of the layer-1 crypto project Toncoin, around the $5 range.

“Building out a TON position while looking for something like [1] area to accumulate.

Top off the position at [2] area.

Any acceptance below [1] and that probably just means it’s time to trim down size or cut completely cause I’m wrong.

I think a lot of coins look like this for what it’s worth, pick your poison. I don’t think it makes a lot of sense to be hyper-bearish at higher time frame market structure pivots.”

Source: Loma/X

At time of writing, TON is trading at $5.55.

According to Loma, BNB, the cryptocurrency powering the BNB Chain ecosystem, is likely gearing up to print new all-time highs (ATHs).

“Binance Coin already erased the entire down move.

Quarterly burns. Negative funding.

Don’t see any reason why this doesn’t also make new ATHs if you’re expecting Solana, Ethereum, and the rest of the gang to do so.”

Source: Loma/X

The trader has called BNB a dark horse for large-cap crypto assets, citing multiple bullish factors.

“I think Binance Coin is a live dark horse for majors.

• Structurally looks good in both USD and BTC pairing

• Negative funding since it’s typically hedged against spot holdings for fee reductions by larger whales

• Free of SEC persecution in the short/mid-term

I have a bag.”

At time of writing, BNB is worth $594.76.

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This full article can be read on Daily Hodl here: https://dailyhodl.com/2024/04/29/trader-turns-bullish-on-toncoin-ton-updates-outlook-on-one-blue-chip-dark-horse-altcoin/