Van de Poppe Lists His Top Five Altcoins For September
Michaël van de Poppe, a prominent cryptocurrency analyst and a pro-trader is looking into five altcoins that are in his list of top performers for the month of September
According to van de Poppe, layer-1 crypto projects such as Cardano (ADA), Solana (SOL) and Avalanche (AVAX) are currently performing really, which would give opening for similar projects to follow their path.
Layer-1 blockchain is defined as a set of solutions implemented in the blockchain’s basic protocol to improve the functionality and scalability of the blockchain. There are two most common Layer 1 solutions, which are consensus protocol changes and sharding.
Cosmos (ATOM)
The trader says the layer-1 project Cosmos (ATOM) is still in accumulation range against it’s Bitcoin pair (BTC), and once it breaks out of that accumulation range, the “first real impulse wave” for the ATOM is likely to happen.
Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.
The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.
Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.
The project’s native asset ATOM is trading at $23.90 at time of writing and is 2% down on a daily chart.
Mina Protocol (MINA)
The second crypto asset on the trader’s list is the Mina Protocol (MINA).
Mina Protocol is a minimal “succinct blockchain” built to curtail computational requirements in order to run DApps more efficiently. Mina has been described as the world’s lightest blockchain since its size is designed to remain constant despite growth in usage.
Furthermore, it remains balanced in terms of security and decentralization. The project was rebranded from Coda Protocol to Mina in October 2020.
The project’s native asset MINA is trading at $3.81 at time of writing with 9% loss on a daily chart.
Van de Poppe predicts “the next levels that we should be looking at” for MINA are $5.30 and $8.00.
Chainlink (LINK)
Third on van de Poppe’s list is the decentralized oracle platform Chainlink (LINK), which according to the analyst “is not doing anything at all, yet.”
Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.
At the time of writing LINK is trading at $29.73 up 3% on daily chart. According to the trader, LINK has been performing weakly against Bitcoin and is ready for a new impulse wave against its BTC pair.
“The oracles underperforming shows that there is a big opportunity lying in the oracle section. If you want to have exposure towards the oracles, the cheapest option, or the most risk-averse option, is to take the entry on Chainlink.”
Harmony (ONE)
Next up on the list is the sharding protocol ONE, the native asset of Harmony.
Harmony is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds.
According to the project’s website, Harmony is expected to introduce cross-shard contracts and a cross-chain infrastructure by the end of 2021.
ONE is trading at $0.1188 with 2.6% loss on daily chart.
Van de Poppe predicts an impulse wave for the asset against its Bitcoin pair.
Tezos (XTZ)
The fifth and last coin on the list is the smart contract platform Tezos (XTZ).
Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
This open-source platform bills itself as “secure, upgradable and built to last” — and says its smart contract language provides the accuracy that is required for high-value use cases. According to Tezos, its approach means that it is futureproof and will “remain state-of-the-art long into the future,” meaning it can embrace developments in blockchain technology.
Van de Poppe points out that XTZ hasn’t seen any bullish movement against Bitcoin all year. But, if XTZ breaks through its current resistance, it could double against BTC, he predicts.
XTZ is trading at $5.23 at time writing and is down 2% in the daily chart.
