Altcoin Daily host Aaron Arnold is listing seven cryptocurrencies that are expected to rise.
The crypto influencer tells his 947,000 YouTube subscribers that Ethereum (ETH) is a digital asset that is “on the verge of popping up.”
Aaron argues that the Ethereum ecosystem is thriving and that the asset is experiencing a supply shock as a result of the fee-burning mechanism introduced with the network upgrade earlier this month.
Speaking of cryptocurrencies about to emerge, we need to talk about Ethereum. This is the Ethereum cycle we’re losing out on, my friends. There are a lot of good things happening in the Ethereum ecosystem. How can you not be optimistic? “[03:42] “Ethereum appears ready to explode and is certainly going through a supply shock at the moment. Ethereum is trading above stable support, while the selling pressure behind it is waning significantly.”
Next in the list of crypto influencers is Ethereum competitor Cardano (ADA). According to Arnold, Cardano’s interoperability is increasing as it prepares to launch smart contracts, which could be a bullish sign.
“This is big news for Cardano as they approach their smart contract upgrade on September 12th. Something else has emerged, and it’s beautiful and cool. Cardano is getting a side chain compatible with Ethereum…
The ADA side chain will use the envelope as an asset to pay transaction fees…This is better for Ethereum, it is better for Cardano. The point is that everything has become interoperable, and it’s good for all these networks to work with each other and talk to each other. Very bullish on Ethereum. Very optimistic about Cardano.”
Arnold highlights Solana (SOL) and blockchain oracle Chainlink (LINK) as additional altcoins with increased interoperability.
Solana developers can now use Chainlink’s DeFi [decentralized finance] feed price. Chainlink Oracle is now running on the Solana network. Builders can now access reliable price data. So like I said, I’m bullish on Solana and Chainlink as well.”
Fifth on YouTube’s list of cryptocurrencies is the original token of smart contract platform Avalanche (AVAX), which Arnold says is currently expanding its ecosystem.
“Just as I’m optimistic about Cardano, just as I’m optimistic about Solana, I’m also optimistic about an avalanche…
Why does the avalanche rise? Well, it’s very simple. Avalanche is on board DeFi protocols…
The avalanche recently attracted top-tier DeFi projects like Aave [AAVE], curve [CRV] and Sushiswap [SUSHI]… Besides, many emerging DeFi projects in the avalanche ecosystem are likely to contribute to growth.”
Next on Arnold’s list is Enjin (ENJ) platform for non-fungible games and tokens (NFT), which recently partnered with a social network.
“I would like to consider Enjin a project protocol for blue chip gaming cryptocurrency. The news is that the social network Blockster… is collaborating with Enjin and rewarding 400,000 early users with NFT.”
The final altcoin on Arnold’s list is XRP, Ripple’s XRP Ledger’s original digital asset. Arnold says his bullish trend for XRP is based on the equivalent Stop and Reverse (SAR) indicator reading.
“XRP is on the cusp of a 30% price move. XRP looks ready for higher volatility. We could see its price move over 30%…
… parabola [SAR] The points have turned to the upside, indicating that a breakout is in progress.”
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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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