Popular crypto trader Austin Arnold says seven altcoin crypto assets have tremendous potential to make gains in the near future.
Arnold tells his 751,000 YouTube subscribers that he’s excited about Cardano, citing news that Cardano’s ERC20 converter is getting close to its testnet phase.
“This is huge for Cardano… but this speaks even more so to the way this space is trending: Interoperable, multichain, chains talking to each other. And some blockchain projects are already saying ‘yes,’ they want to be a part of the Cardano ecosystem.”
Arnold notes the blockchain gaming project Chain Games has already expressed support of the ecosystem.
Next up on Arnold’s list is Ethereum layer-2 scaling solution Polygon (MATIC), noting reports that Polygon’s active users have grown by 75,000. Polygon is trading at $1.83 at time of writing and is up 67.5% on a week where many crypto assets saw sizeable downticks in price, according to CoinGecko.
Arnold’s next pick is Ethereum, noting reports that Ethereum’s network revenue is set to break a new record this month.
“There’s no other way to slice it – Ethereum metrics just keep trending up.”
The next two projects on Arnold’s list are Polkadot (DOT) and Kusama (KSM), citing Polkadot’s recent announcement that the sandbox project Kusama is ready to host parachains.
Explains the analyst,
“Polkadot is in the final phase of its mainnet launch. Polkadot holders – congratulations.”
Arnold’s penultimate altcoin pick is Avalanche (AVAX), citing news that Tether (USDT) plans to go live on the Avalanche blockchain.
And the analyst’s final pick is Sushi (SUSHI), pointing to reports that Sushi plans to sell tokenized bottles of sake. The decentralized finance (DeFi) platform is reportedly launching a new program called MISO to enable new projects to list tokens.
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Featured Image: Shutterstock/Tithi Luadthong