Cryptocurrency expert and traders Austin Arnold said he is confident of eight cryptocurrencies that he believes have a chance to value much more than Bitcoin, which is experiencing a moment of consolidation in its price.
According to Arnold, these crypto assets can present great opportunities for gains in the short term.
Ethereum is No. 1
First, the analyst said he is optimistic about Ethereum (ETH), the main altcoin on the market. According to him, the leading platform for building smart contracts has great potential:
“Ethereum looks great in my opinion. From a fundamental point of view, from a technical analysis point of view, from a narrative point of view ”, he said.
Arnold noted that the digital asset is facing a supply crisis. After all, more and more ETH are blocked in ETH 2.0.
Altcoins with potential
Second, the trader highlighted Polygon (MATIC), a layer 2 scaling solution that aims to lighten the load on the Ethereum network.
As Arnold pointed out, the price of MATIC has skyrocketed recently, increasing more than 100% in the last 7 days.
Then, the analyst said that Ethereum’s competitor, Cardano (ADA), can also make good profits. This is because the project has just closed a partnership with the government of Ethiopia:
“The sentiment around Cardano cannot be ignored. Narratives and feelings drive much of the price of cryptocurrency, ”he said.
The fourth active on the trader’s list is Binance Coin (BNB). Arnold pointed out that exchange Binance, where BNB can be used to offset trading fees, will soon allow users to trade shares in Apple, Microsoft and MicroStrategy.
In addition, Binance announced that it will launch its own non-fungible token (NFT) market in June. In this way, the exchange seeks to obtain a slice of the growing sector.
In fifth place was Chainlink (LINK), which the trader claims to have a potential grade due to his Oracles system.
DeFi and NFTs
The sixth asset on the trader’s list is VeChain (VET). According to Arnold, the project is “becoming what people want”, offering non-fungible tokens (NFTs) and playing with the growing popularity of unique digital art assets, land and games.
Seventh, is the decentralized finance token (DeFi), Aave (AAVE). The project aims to promote yield farming, encouraging users to migrate to their v2 platform.
Finally, Arnold highlighted the Injective Protocol (INF), a kind of decentralized version of Robinhood. As noted by the analyst, the project has the support of the cryptocurrency fund Pantera Capital and the star of the Shark Tank, Mark Cuban.
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