Well-known cryptocurrency trader Austin Arnold, who has a YouTube channel with more than 1 million followers, recently published his analysis of 6 altcoins, which he expects to grow in the near future.
6 altcoins with growing potential
Arnold focused mainly on larger altcoins. The first that mentioned is the solution of the second layer for the ETH network – cryptocurrency Polygon (MATIC). The cryptocurrency is gaining momentum following a partnership with the 20 billion-dollar gambling company DraftKings.
Arnold also deals with the cryptocurrency Polkadot (DOT). He points to a recent tweet from Polkadot founder Gavin Wood, who explains that nearly 20 million DOT tokens are currently stored at the DOT box office to fund community projects. If any DOT remains unused, it will be burned. According to Gavin Wood, Polkadot now burns 239,988 DOT every month.
“Either burned or used, the DOT token is becoming increasingly rare. We have recently seen an increase in the price of DOT. This may be associated with other exciting developments, such as the upcoming launch of parachain auctions. “
The third cryptocurrency in its viewfinder is the VeChain supply chain management (VET) protocol. Austin points out that VeChain has recently partnered with major logistics company DHL to issue corporate NFT tokens.
“This cooperation with DHL China, among other things, will allow customers to create their own DHL mascot and mint it as NFT token on the VeChain network. “
The fourth altcoin is Cardano (ADA). Arnold notes that Cardano seems to be gaining more attention following new partnerships and the announcement that the network has received $ 100 million to invest in Cardano projects in Africa.
“Simply put, there are so many people in more developing regions of the world who do not have financial stability. This can be changed using Cardano and blockchain. “
Another cryptocurrency on Arnold’s list is the decentralized oracle network Chainlink (LINK). He notes that, despite the slight performance of the token over the last few months, he believes that LINK still has significant market potential as partnerships continue to grow, with 84 integrations taking place only in September.
“In my opinion, Chainlink still has a lot of room to grow. Think about it: Chainlink already has a lot of exclusive, big partnerships with big companies – Google and Oracle. And more than 75 different blockchains already use Chainlink technology and are used by many information channels, including the USD. That is a strong foundation. My speculation is this: over the next few years, Dapp platforms such as ETH, Cardano, Solana, Polkadot, Elrond, etc. will continue to fight for market place… However, Chainlink integrates with everyone… Something to think about. “
The sixth altcoin on his list is ETH, the king of smart contracts, and he says he is preparing for a huge leap in 2022. He notes that ETH’s developers have announced plans to move to ETH 2.0 in May to June 2022, which will convert blockchain to proof- of-stake.
,, The code should be ready around February 2022. Transition to ETH 2.0, no earlier than June 2022. Next year will be known as the year of ETH. Right there is defi, there are NFT. “