Austin Arnold: Six Altcoins Are Gearing Up For Massive Rallies Next Year
According to Austin Arnold, the host of Altcoin Daily, six prominent altcoins are preparing for huge rallies in the next year.
Polygon (MATIC)
In a new video, Arnold shares with his 1.04M YouTube subscribers that Ethereum layer-2 (L2) scaling solution Polygon (MATIC) is well positioned in the market after sealing a new partnership with gambling giant DraftKings.
Arnold cites a statement from Paul Liberman, the president of global product and technology for DraftKings, who explains how the company is planning to grow alongside Polygon.
“Although DraftKings marketplace is still in its nascency, we are bullish on the possibilities that blockchain, NFTs, cryptocurrency and more will present as we prepare for Web 3.0 alongside Polygon and the new innovations ahead for digital collectibles.”
Polkadot (DOT)
Arnold is also looking into decentralized interoperability platform Polkadot (DOT). He referred to a tweet from Polkadot founder Gavin Wood, who said that there are at the moment close to 19 million DOT tokens in DOT treasury waiting to be invested to Polkadot community projects.
The @Polkadot treasury currently has 18,936,300 DOT (DOT, not USD – do the math) in it ready to spend on *your* ideas for building, improving, educating and indeed, anything else that the Polkadot governance believes valuable.
According to Gavin Wood, if any DOT is unused, it will be burned, and at the moment, Polkadot treasury is burning 239,988 tokens every month.
“Either burned or used, the DOT token is only getting more scarce. We have seen a rally in the DOT price recently. This could be linked to some exciting developments ahead, such as the upcoming parachain launch and slot auctions – these parachain auctions will take DOT off the market as well.
And with the first 11 parachain auctions coming to Polkadot next month, along with the 100 or so available slots to be filled, this could boost Polkadot’s presence in the crypto sector, and could cement the multichain system’s rising status.”
VeChain (VET)
The third coin on Arnold’s radar is the supply chain management protocol VeChain (VET). VeChain recently entered into a partnership with major logistics company DHL for enterprise NFT (non-fungible token) issuance, the show host points out.
“This collaboration with DHL China, one of the first things it will allow customers to experiment with is customize the DHL mascot and then mint it as NFTs on the VeChainThor blockchain solution.”
Cardano (ADA)
Next altcoin on the list is Cardano (ADA), which is seemingly getting more traction after announcing partnership with television satellite provider DISH, and that the network has earmarked $100 million for investment in Cardano-centered projects in Africa.
“Simply put, there are so many people in more developing areas of the world that don’t have financial stability, and that can be changed with Cardano with blockchain.”
Chainlink (LINK)
Next up is decentralized oracle network Chainlink (LINK). Regardless of the LINK’s slagging performance over the last few months, according to Arnold there is huge potential for Chainlink as partnerships continue to rise month-over-month, with 84 integrations made just last month.
“I get it, but in my opinion, Chainlink still has a lot of room to grow. Think about this: Chainlink already has a ton of exclusive, big partnerships with big companies – Google and Oracle to name two – over 75 different blockchains already use Chainlink technology, as well as being used by many data feeds, including USD [US dollar] currency pairs. That’s a strong foundation.
My speculation is this: over these next few years, as DApp [decentralized application] platforms like Ethereum [ETH], Cardano, Solana [SOL], Polkadot, Elrond [EGLD], etc. continue to fight for market share… Chainlink is integrating with all of them… Something to think about.”
Ethereum (ETH)
Last, but not least, looks into smart contract platform Ethereum, and predicts big moves happening next year. Arnold points out that Ethereum (ETH) developers earlier announced plans for the transition into Ethereum 2.0 to take place in May-June of 2022, which will convert the blockchain to a proof-of-stake (POS) protocol.
“The code should be ready around February 2022. The merge to mainnet, to ETH 2.0, in June of 2022 at the earliest. Next year will be known as the year of ETH. That’s where DeFi [decentralized finance] is, that’s where NFTs are.”
