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Ethereum, Cardano and 7 Altcoin Projects Are Sleeping Giants As Bitcoin Moves Sideways – According to Altcoin Daily
Crypto analyst Aaron Arnold is naming nine crytpo assets that he believes are quiet powerhouses with the potential to take off once bullish momentum returns to the markets.
In a new video, the Altcoin Daily host highlights the Theta Network (THETA), which recently launched its mainnet 3.0. Theta is a content delivery network that seeks to provide higher-quality streaming experiences by decentralizing the process.
Arnold notes that the network is backed by big players who are running Theta nodes to help improve streaming quality.
Next up is what Arnold calls one of the top decentralized finance (DeFi) blue chips in the space, Uniswap (UNI). Uniswap V3 has already captured 41% of the decentralized exchange market, says Arnold.
In the same vein, the analyst is also bullish on Uniswap competitor SushiSwap (SUSHI) which will soon debut its non-fungible token (NFT) platform.
“I think SUSHI is going to do big things going into the end of the year.”
The fourth coin on Arnold’s list is Ethereum competitor Cardano (ADA). Cardano is leading the pack in terms of average daily developments on GitHub over the past 30 days, which indicates that the development team is working hard to improve its network, notes Arnold.
Sandbox (SAND) is the fifth asset Arnold mentions, noting that it may be a worthy competitor to virtual decentralized marketplace Decentraland (MANA).
The Ethereum-based metaverse recently partnered with the TV franchise The Walking Dead as well as other popular brands. according to Arnold.
Next up are the two top crypto assets Bitcoin and Ethereum, which Arnold says have both attracted investments from Senator Pat Toomey (R-PA), the first senator on record to buy crypto.
Additionally, says Arnold, Ethereum has added five million unique addresses to its network in the past 30 days.
“Numbers like this, charts like this, cannot be ignored, my friend. The proof is in the data. And finally on ETH, Ethereum gas prices dropped to the lowest rates since March 2020. You can attribute this since the price dropped. However, Coinmetrics says Ethereum gas prices actually began declining before the price of ETH did because ETH has been doing some scaling this year.”
Number eight is the smart contracts platform Avalanche (AVAX), which has attracted a new yield-farming platform to its blockchain, notes Arnold.
“They say they have compelling reasons to launch on Avalanche. Basically, it’s the speed and low fees, high throughput – that’s why they’re choosing it.”
Arnold says that as demand for Ethereum grows, projects will spill over onto smaller blockchains and start building there.
Finally, Arnold highlights that NFTs are here to stay, and NBA legend Allen Iverson is working with Binance to produce his own NFTs this summer. As such, Binance Coin (BNB) rounds out the analyst’s list.
Featured Image: Shutterstock/Tithi Luadthong