Altcoin Daily: Ethereum, Cardano and 7 Altcoins Are ‘Sleeping Giants’
Aaron Arnold, a cryptocurrency analyst and the host of Altcoin Daily, is naming top nine altcoins, including Ethereum that he believes are ‘sleeping giants’ with the potential to take off once the market turns bullish again.
In a recent video, the Arnold highlights the Theta Network (THETA), which recently launched its mainnet 3.0. Theta is a content delivery network that aims to deliver higher-quality streaming experiences by decentralizing the process.
The Alcoin Daily host points out that the network is backed by big players who are running Theta nodes to help improve streaming quality.
Next on the analyst’s list is what he 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, according to Arnold.
In the same manner, Arnold is also bullish on Uniswap competitor SushiSwap (SUSHI) which will soon debut its non-fungible token (NFT) platform. He highlights:
“I think SUSHI is going to do big things going into the end of the year.”
The 4th coin on the 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 5th asset the coin show host mentions, noting that it may be a worthy competitor to virtual decentralized marketplace Decentraland (MANA).
Arnold points out that the Ethereum-based metaverse recently partnered with the TV franchise The Walking Dead as well as other popular brands.
Arnold goes through next the two top crypto assets Bitcoin and Ethereum, which both have attracted investments from Senator Pat Toomey (R-PA), the first senator on record to buy crypto.
In addition, Ethereum has added five million unique addresses to its network in the past 30 days, says Arnold:
“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.”
8th coin on the list 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.”
As demand for Ethereum grows, projects will spill over onto smaller blockchains and start building there, according to Altcoin Daily host.
Finally, Arnold opines 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.
