Cryptocurrency trader and Altcoin Daily host Austin Arnold believes that six major cryptocurrencies are preparing for massive rally next year.
In a new crypto update, the YouTube star told his 1040,000 subscribers that the Ethereum layer-2 (L2) Polygon (MATIC) scaling solution is gaining momentum after partnering with the $20 billion gambling company Dragkings.
Arnold shares a statement from Paul Lieberman, president of global products and technology at DraftKings, explaining how the company is positioning itself to grow alongside Polygon.
“While the DraftKings market is still in its infancy, we are optimistic about the possibilities that blockchain, NFTs, cryptocurrency, and more will present as we prepare for Web 3.0 along with Polygon and the upcoming new innovations for digital collectibles.”
Next, Arnold takes a look at the decentralized interoperability platform Polkadot (DOT). refers to a hadith tweet From Polkadot founder Gavin Wood stating that there are currently just under 19 million DOT tokens stored in the DOT’s treasury to fund community projects.
If no DOT program is used, it will be burned. Currently, Polkadot’s vault burns 239,988 tokens each month, according to Gavin Wood.
“Whether it gets burned or used, DOT tokens are getting scarcer. We’ve seen an uptick in the price of DOT lately. This could be linked to some exciting developments in the future, such as the upcoming parachain launch and slot auctions – these parachain auctions will take DOT out of the market as well.”
With the first 11 Parachinese auctions arriving on Polkadot next month, along with 100 or so available slots to be filled, this could boost Polkadot’s presence in the crypto sector, and could further boost the multichain system’s rising profile. “
The third coin that Arnold is looking at is the VeChain (VET) supply chain management protocol. The merchant highlights that VeChain recently partnered with major logistics company DHL to issue an Enterprise NFT (non-fungible token).
“This collaboration with DHL China, one of the first things that customers will be able to experience is to customize the DHL mascot and then mint them as NFTs on the VeChainThor blockchain solution.”
Next up is the Cardano (ADA) smart contract platform. Arnold notes that Cardano appears to be gaining more traction after taking down partnerships with satellite television provider DISH and announcing that the network had received $100 million to invest in Cardano-focused projects in Africa.
“Simply put, there are a lot of people in more developing regions of the world who are not financially stable, and that can be changed with Cardano using blockchain.”
Another coin on Arnold’s list is the Chainlink (LINK) decentralized oracle network. He notes that despite the token’s lackluster performance over the past few months, he believes there is still a significant upside for LINK to achieve in the market as partnerships continue to rise month on month, with 84 integrations taking place only in September.
“I get that, but in my opinion, Chainlink still has a lot of room to grow. Think about this: Chainlink already has a large number of exclusive and large partnerships with major companies – Google and Oracle to name a few – more than 75 different blockchains already use Chainlink technology, in addition to being used by many data feeds, including Including the US dollar [US dollar] currency pairs. This is a strong foundation.
My guess is this: for the next few years, like DApp [decentralized application] Platforms like Ethereum [ETH]Cardano, Solana [SOL]Polkadot, Elrond [EGLD]etc., they continue to fight for market share… Chainlink is integrating them all together… something to think about.”
Finally, the crypto trader believes that the leading smart contract platform Ethereum is preparing for a huge 2022. He noted that Ethereum developers announced that ETH plans to move to Ethereum 2.0 in May and June of 2022, which will transform the blockchain into a Proof of Stake protocol.
“The code should be ready around February 2022. It will integrate with mainnet, to ETH 2.0, in June 2022 at the earliest. Next year will be known as the year of ETH. This is where DeFi is [decentralized finance] It is, where the NFTs are located.”
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
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