Tag: Altcoin Daily

Ethereum Adoption Is in Overdrive Despite Crypto Market Downturn: Altcoin Daily

by Dailyhodl

The host of popular YouTube channel Altcoin Daily says that the money keeps pouring into Ethereum (ETH) despite the market dip.

In a new video, Altcoin Daily co-host Austin Arnold says developers continue to build on Ethereum regardless of market conditions.

“Even though we are watching prices consolidate and decline in the short-term, the building continues.”

Arnold points to plans announced by Ethereum-based metaverse platform The Sandbox (SAND) to start a $50,000,000 accelerator fund for metaverse startups.

“This is a huge injection of cash into the Ethereum metaverse, The Sandbox. Because of this, we are about to see a lot of building…

This isn’t just going into The Sandbox metaverse. It’s going towards building an interoperable, open network in general.”

Looking to the future, Arnold says the Ethereum scalability issues will be solved, in part, by zero-knowledge (ZK) roll-up technology, a scalability solution that runs computations off the chain and then submits a validity report.

“[ZK roll-ups make Ethereum] a little more private, a whole lot more scalable, and BitDAO just launched this $200 million initiative to advance Ethereum scaling endeavors. Progress is happening.”

According to Arnold, decentralized autonomous organization (DAO) BitDAO is launching a fund backed by big money to improve Ethereum’s scalability.

“What about scaling? Well, BitDAO just launched a $200 million zkDAO to advance Ethereum scaling via zkSync…

Major players are backing this scaling solution of zkSync through this DAO.”

According to the Altcoin Daily co-host, one nascent crypto sector will boost Ethereum even further – non-fungible tokens (NFTs).

App research Nima Owji recently revealed the social platform Reddit will soon allow users to set any NFT as their profile picture.

Reddit has already been dabbling in the world of NFTs, releasing their own line of Ethereum-minted digital collectibles called CryptoSnoos.

While Arnold is quick to point out that the NFT profile pictures are just a test, he also reminds his viewers of how huge an adoption event this could be for crypto.

“Reddit trial will allow users to set any NFT as their profile picture…

While this is only being tested, at the moment, it is pretty cool to see. Reddit obviously has tens if not hundreds of millions of active daily users on their platform… it should be clarified at the moment, though Reddit has stated that this is a small, internal test.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Ethereum (ETH), Solana (SOL) and Polygon (MATIC) Will Be Explosive in 2022, According to Altcoin Daily – Here’s Why

by Dailyhodl

Crypto analyst Aaron Arnold thinks Ethereum (ETH), Solana (SOL) and three other altcoins will be “explosive” this year.

The co-host of Altcoin Daily tells his 1.2 million YouTube subscribers that surging interest in non-fungible tokens (NFTs) and decentralized finance (DeFi) is driving his bullishness on a handful of crypto assets.

“[I’m] talking about quality L1s and quality L2s. I’m talking about projects that have real activity going on on the protocol.

These cryptocurrency projects are going to be explosive this year. Why do I say that?

It is because the amount of activity we are seeing in the NFT space, the DeFi space, just continues to go parabolic.”

Leading smart contract platform Ethereum is trading at $3,129.40 at time of writing, down 0.9% in the past 24 hours, while competing smart contract platform Solana is currently trading at $136.58.

Arnold is also bullish on layer-2 scaling solution Polygon (MATIC), which is trading at $2.04 at time of writing, down 2.57% in the past 24 hours.

Next on Arnold’s list is Immutable X (IMX), a scaling solution for NFTs aiming to enable near-instant, zero gas fee transactions. IMX is trading at $3.57 at time of writing, down 4.67% in the past 24 hours.

Arnold also mentions Metis Token (METIS), another layer-2 scaling solution. The 154th-ranked crypto asset by market cap is trading at $282.99 at time of writing.

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Ethereum, Cardano and Three Additional Altcoins Are Top Crypto Assets for 2022, According to Analyst Benjamin Cowen

by Dailyhodl

A popular crypto analyst is naming his top altcoin picks as the crypto markets head into a new year.

In a new interview with Altcoin Daily, Into the Cryptoverse founder Benjamin Cowen tells the channel’s 1.8 million YouTube subscribers that layer-1 blockchain projects are his primary focus of interest.

First and foremost is leading smart contract platform Ethereum (ETH).

“Obviously there’s Ethereum, but that’s sort of the ‘altcoin index.’

You want your altcoins to outperform Ethereum or at least oscillate against it. Look at their ETH values over the macro scale.

MATIC I think is a good project, layer-2 scaling I think is important.

But also Cardano, Polkadot, Avalanche.”

The multi-chained scaling solution Polygon (MATIC) has gone on an epic run in 2021, rising from $0.03 to a new all-time high of $2.88 last Saturday. MATIC has since corrected and currently trades for $2.49.

Also high on Cowen’s list is scalable decentralized blockchain platform Cardano, whose native token ADA ranks 6th by market cap. The altcoin has seen a roller coaster of price action, launching from $0.18 to a summer high of $2.91. Currently, ADA is valued at $1.33.

Cross-chain interoperability protocol Polkadot (DOT) ran from a January low under $10 to highs above $47 in May and $54 in November, but has since corrected heavily and DOT now trades for $26.56.

Last on Cowen’s list of favorites is layer-1 smart contract platform Avalanche (AVAX). The AVAX token started 2021 trading for around $3.50 but has gone on a series of epic rallies, ultimately grinding up to an all-time high of $144.96 in late November. The 11th-ranked crypto asset is exchanging hands for $101.04.

Moving on to his honorable mentions, the popular chart guru likes smart contract platform Solana (SOL), which started the year under $2 and soared to nearly $260 back in November. The altcoin is valued $170.84 at time of writing.

“Solana, I think it’s decent, it’s a little more centralized than I would like.

But it doesn’t mean that’s necessarily a bad thing for some people, because some people just prefer that.”

Cowen remains interested in oracle network Chainlink (LINK) despite native token LINK’s disappointing numbers in relation to ETH.

“Chainlink is an interesting one because it’s one that did really well in the bear market.

I hold it and it’s not met my expectations this market cycle.

I’m looking for that one to do something good in 2022 because frankly, it’s down 90% against Ethereum over the last 18 months.”

Chainlink started the year under $12 and reached an all-time high of $52.70 back in May, before crashing to $20.10 and ultimately $13.88 by July, before grinding its way back up in recent months.

LINK has had a rocky past month, reaching a high of $26.81 before crashing to $17.61 and then climbing back above $24 briefly. Chainlink is trading for $19.62 at time of writing.

In contrast, Ethereum has seen a breakout year, rising over 400% from $730 to its current valuation of $3,647.

Last on the list of runner-ups is Ethereum competitor Terra (LUNA) whose native token LUNA underpins a suite of decentralized stablecoins. LUNA began the year at $0.64 and has witnessed major gains. Currently, it’s trading for $83.41.

Cowen wraps up by saying,

“The main projects that I follow are Cardano, Polkadot, Avalanche, MATIC, LUNA, Solana.

It’s really hard to go wrong if you just look at the top 10 or 20. Get layer-1s, a couple of layer-2s, an oracle.

I think that’s a great crypto portfolio right there.”



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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Trader Aaron Arnold Bullish on Several Altcoin Projects, Predicts Continued Dominance for Bitcoin and Ethereum

by Dailyhodl

Altcoin Daily host Aaron Arnold is explaining why he sees big potential for several mid-cap altcoins while predicting continued success for Bitcoin (BTC) and Ethereum (ETH).

In his latest YouTube video, Arnold tells his 1.11 million subscribers that he expects the decentralized wireless platform Helium (HNT) to continue rising.

“This project is very heavily VC [venture capital] backed, but in my opinion they have a lot of quality VCs and they are doing real things.

Token scarcity is built into Helium token economics. As the number of Hotspots increases and as halvings occur every two years, the average HNT burned per day by Hotspots naturally decreases.”

Helium is a blockchain with operational nodes known as Hotspots, a combination wireless gateway and mining device. HNT is currently trading at $52.88.

Recent news about Elrond Network (EGLD) has the Altcoin Daily co-host excited about the high-speed transactional blockchain.

“Elrond Network is bridging to this bluechip centralized stablecoin [Coinbase’s USDC]. 

And this just speaks to what we see from Elrond on a weekly or monthly basis. Their amount of building, partnerships, bridging, updates, everything like that cannot be ignored.

10 million transactions, 888,000 accounts, 3,200 validators.”

Arnold is reacting to the news of the US Dollar Coin (USDC) stablecoin going live on the Elrond platform. EGLD is up 21.6% over the last 14 days, trading at $311.85 at time of writing.

The widely followed crypto trader is also predicting a big future for decentralized finance (DeFi) platform Aave (AAVE) after a recent unanimous vote within the community to upgrade the platform to V3 (version 3).

“[Aave] is a blue chip in the lending and borrowing decentralized finance space. They’re just about to go through a major upgrade.

If this goes off without a hitch, we’re going to see some major upgrades, and this is going to be good for Aave.

Version three is very sexy once you begin to understand it. Basically, you can borrow and lend on different chains.”

Despite the upgrade, AAVE is down 8% over the last seven days, currently exchanging hands at $306.28.

Next, the Altcoin Daily co-host can’t help but discuss the two biggest players in the crypto space: Bitcoin and Ethereum. As for the largest crypto asset by market cap, Arnold issues a stern warning to those “sleeping” on BTC.

“I’d be remiss if I didn’t point this out to you, because I’m very bullish on Bitcoin. Bitcoin supply is getting tighter with each passing day.

Supply shock is no joke. Do not sleep on Bitcoin, ladies and gentleman.”

BTC is trading at $63,768 at time of writing, down nearly 3% in the last 24 hours.

Finally, Arnold makes the case for leading smart contract platform Ethereum (ETH) to continue stealing market dominance from Bitcoin.

“Coinbase Q3 earnings are out. Ethereum volume surpasses Bitcoin volume for the second straight quarter. 

We’re starting to see a shift.

Ethereum’s dominance, or growing dominance, cannot be denied.”

ETH is exchanging hands at $4,635 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoin Daily Says Fundamental Factors Will Fuel Ethereum Explosion, Explores Metaverse Altcoins

by Dailyhodl

A crypto-focused YouTube channel with over 1 million followers is predicting an Ethereum (ETH) explosion possibly as soon as this weekend.

In a new video, Altcoin Daily co-host Austin lays out two fundamental factors that he says will drive up the price of the leading smart contract platform even further.

First, Austin notes that major movie studios are getting into the non-fungible token (NFT) market, notably on the Ethereum blockchain.

“Huge green flag if you’re an ETH hodler [long-time holder].

Warner Bros to launch Red Pill NFT avatars for their new movie ‘The Matrix Resurrections.’

Think about this: this is the first time in history that we have major movie studios encouraging their audience to download an Ethereum wallet [and] get a little bit of ETH, all thanks to NFTs.”

Even more pressing than movie-themed NFTs, Austin explains a major reason why Ethereum could spike over the next 24 hours.

“On Friday, over $540 million worth of Ethereum options contracts expire. Now luckily, those contracts do favor traders with ETH targets at $5K.

Generally speaking, when options contracts expire, especially [at] these high amounts, it’s always wise to expect volatility, in either direction.

The good news is, the bulls in this case seem to be winning.”

The host goes on to say,

“What this means is that even though many, many people seemed to have been betting against the Ethereum price, because the price has shown such strength, such a rally in these recent weeks, the bears look like they’re about to get wiped out.”

Ethereum is trading at $4,496 at time of writing, according to CoinGecko.

Next, Altcoin Daily lays out concrete reasons for holders of decentralized video streaming platform Theta Network (THETA) to be excited.

“Theta Network welcomes Fuse.TV as their latest media partner.

How this affects you is that [actress and singer Amara La Negra] now joins the list of other notable celebs choosing Theta.

If you hold Theta, this is a big news day for you.”

At time of writing, THETA is trading at $7.92 per CoinGecko.

Finally, Austin looks at Enjin Coin (ENJ), the cryptocurrency of the Enjin metaverse. Enjin recently announced a fund incentivizing developers to use their metaverse blockchain, which he believes will only help to grow the platform.

“Enjin wants to decentralize its metaverse with their new $100 million fund.

The Efinity Metaverse Fund will focus on seed equity investments for projects building on Efinity.

Efinity in Enjin’s much more scalable, yet much more centralized, blockchain for metaverse/crypto gaming.”

ENJ is trading at $2.98 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Cardano, Polkadot and Four Additional Altcoins Are Set To Explode in 2022, According to Crypto Trader Austin Arnold

by Dailyhodl

Crypto trader and Altcoin Daily host Austin Arnold thinks six major altcoins are gearing up for massive rallies in the next year.

In a recent crypto update, the YouTube star tells his 1,040,000 subscribers that Ethereum layer-2 (L2) scaling solution Polygon (MATIC) is gaining momentum after landing a partnership with the $20 billion gambling company DraftKings.

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Arnold shares a statement from DraftKings’ president of global product and technology, Paul Liberman, explaining how the company is positioning itself 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.”

Next, Arnold looks at the decentralized interoperability platform Polkadot (DOT). He points to a recent tweet from Polkadot founder Gavin Wood explaining that there are currently just under 19 million DOT tokens stored in the DOT treasury to fund community projects.

If any DOT goes unused, it gets burned. Currently, the Polkadot treasury is burning 239,988 tokens every month, according to Gavin Wood.

“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.”

The third coin Arnold looks at is the supply chain management protocol VeChain (VET). The trader highlights that VeChain recently landed a partnership with major logistics company DHL for enterprise NFT (non-fungible token) issuance.

“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.”

Next up is the smart contract platform Cardano (ADA). Arnold notes that Cardano appears to be gaining more traction after landing partnerships with television satellite provider DISH and announcing that the network has received $100 million for investment in Cardano-focused 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.”

Another coin on Arnold’s list is the decentralized oracle network Chainlink (LINK). He notes that despite the token’s lackluster performance over the last few months, he believes there is still massive upside for LINK to realize in the market as partnerships continue to rise month-over-month, with 84 integrations made just in September.

“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.”

Finally, the crypto trader thinks that the leading smart contract platform Ethereum is gearing up for a huge 2022. He notes that Ethereum developers announced that ETH is planning to make the transition into Ethereum 2.0 in May-June of 2022, which will convert the blockchain to a proof-of-stake 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.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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These 7 Altcoins Are ‘About To Pop,’ According to Altcoin Daily

by Dailyhodl

Altcoin Daily host Aaron Arnold is listing seven cryptocurrencies that he expects to rally.

The cryptocurrency influencer tells his 947,000 YouTube subscribers that Ethereum (ETH) is one of the digital assets that is “about to pop.”

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Aaron argues that Ethereum’s ecosystem is thriving and that the asset is undergoing a supply shock as a result of the fee-burning mechanism that was introduced with the network upgrade earlier this month.

“Speaking of cryptocurrencies about to pop, we need to talk about Ethereum. This is Ethereum’s cycle to lose, my friends. There is so much good going on in the Ethereum ecosystem. How can you not be bullish?”

[03:42] “Ethereum looks ready to pop and is definitely going through a supply shock right now. Ethereum is trading on top of stable support, while selling pressure behind it is drastically diminishing.”

Next up on the crypto influencer’s list is Ethereum competitor Cardano (ADA). According to Arnold, Cardano’s interoperability is growing as it gears up to launch smart contracts, which could be a bullish signal.

“This is big news for Cardano as they’re approaching their smart contracts September 12th upgrade. Something else has popped up, which is pretty, pretty cool. Cardano is getting an Ethereum-compatible side chain…

The side chain will use wrapped ADA as the assets to pay for transaction fees… This is better for Ethereum, this is better for Cardano. The point is everything is becoming interoperable, and it’s good that all of these networks are working with each other and talking to each other. Hugely bullish on Ethereum. Hugely bullish on Cardano.”

Arnold highlights Solana (SOL) and blockchain oracle Chainlink (LINK) as additional altcoins with growing interoperability.

“Solana developers can now use Chainlink’s DeFi [decentralized finance] price feed. Chainlink oracle is now live on Solana’s network. Builders now have access to reliable price data. So like I said, bullish on Solana and also Chainlink.”

Fifth on the crypto YouTuber’s list is the native token of smart contract platform Avalanche (AVAX), which Arnold says is currently expanding its ecosystem.

“Just like I’m bullish on Cardano, just like I’m bullish on Solana, also bullish on Avalanche…

Why is Avalanche soaring? Well, it’s pretty simple. Avalanche is onboarding blue chip DeFi protocols…

Avalanche has recently attracted blue chip DeFi projects like Aave [AAVE], Curve [CRV] and Sushiswap [SUSHI]… Besides that, several other nascent DeFi projects in the Avalanche ecosystem are likely contributing to the growth.”

Next up on Arnold’s list is gaming and non-fungible token (NFT) blockchain platform Enjin (ENJ), which recently notched a partnership with a social network.

“I would consider Enjin a blue chip gaming cryptocurrency project protocol. The news is that social network Blockster … collaborates with Enjin and is rewarding 400,000 early users with NFTs.”

The final altcoin on Arnold’s list is XRP, the native digital asset on Ripple’s XRP Ledger. Arnold says that his bullishness for XRP is based on a reading of the parabolic stop and reverse (SAR) indicator.

“XRP is on the verge of a 30% price move. XRP looks ready to spike in volatility. Could see its price move by more than 30%…

…the Parabolic [SAR] points have turned bullish, indicating that a breakout is underway.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin, Ethereum and Three Crypto Assets Primed To Explode in August: Altcoin Daily

by Dailyhodl

Altcoin Daily host Aaron Arnold is listing five assets that he believes are primed to take off this August.

First on the trader’s list is the flagship crypto Bitcoin (BTC). Arnold says that Bitcoin is experiencing an extreme supply crunch, which over time will send BTC’s price in one direction.

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“You love to see the supply getting low. Well, the price has nowhere to go but up given enough time. To go even further, there is still so much capital on the sidelines sitting in stablecoins because of the BTC/stablecoin supply ratio… This capital is just starting to flow back into the market.

On-chain things are looking bullish. This current wave of Bitcoin supply shock has a lot of momentum behind it.”

Arnold is also bullish on Ethereum (ETH), which he says is experiencing its own supply crunch.

The trader adds that ETH supply on exchanges has dropped by 10 million in the past year and that $14 billion worth of Ethereum is staked on Ethereum 2.0, where it must lie dormant.

Finally, Arnold notes that Coca-Cola Company recently used Ethereum’s network to mint non-fungible tokens (NFTs) as a promotional tactic.

“This is Ethereum’s bull run to lose, in my opinion.”

Arnold also analyzes decentralized exchange Uniswap (UNI). He shares metrics that suggest Uniswap is responsible for bringing in roughly 80% of the 3 million users in the decentralized finance (DeFi) sector. Arnold says that Uniswap’s volume is comparable to the volume of centralized exchanges Kraken and FTX.

The analyst also says that Elrond (EGLD) will have a strong August performance as the scalable blockchain network prepares to launch its Maiar decentralized exchange.

The last asset that Arnold predicts will explode this August is oracle network Chainlink (LINK). According to Arnold, Chainlink is rapidly expanding its integrations and could hit 1,000 integrations by the end of this year.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin, Ethereum and Cardano Are Top Three Crypto Assets for 2021, Says Altcoin Daily – Here’s Why

by Dailyhodl

The popular YouTube-based crypto outlet Altcoin Daily is naming Bitcoin, Ethereum (ETH) and Cardano (ADA) as the top three crypto assets for 2021.

In a new video, Altcoin Daily host Aaron Arnold explains to viewers why he’s bullish on top cryptocurrency Bitcoin, top smart contract platform Ethereum and Ethereum’s close competitor Cardano as the crypto market works to recover from its late-May crash.

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The trader notes that though many projects, including the three mentioned in the video, have significantly increased in value over the past year, there are many opportunities for investors to increase their wealth with the right crypto picks.

“There is so much opportunity in cryptocurrency right now. If you missed out on the early years of the internet, you better cherish the early years of Bitcoin, decentralized finance (DeFi) and crypto right now. And just like the early years of the internet, this opportunity will not last forever.”

On Bitcoin, Arnold is bullish on the flagship cryptocurrency even as it struggles to regain the $40,000 price level and the Bitcoin fear and greed index remains in the “fear” zone.

“When there is fear in the market, this is an opportunity for greater opportunity and there is fear in the air.”

Arnold adds that the current sentiment in the crypto markets is nothing like it was during the crash of 2017, at which point everyone expected a short cooldown period before another leg up that never came.

Additionally, the Bitcoin taproot upgrade is coming up, which will help keep Bitcoin in the news. The upgrade will enhance Bitcoin’s privacy, speed up transaction rates and reduce the quantity of data stored and transferred on the blockchain, says Arnold.

Ethereum also has an upgrade coming up in 2022, notes Arnold, which will keep the asset in the news. ETH’s new version will not only capture a lot of the ETH supply, as people stake their Ethereum on ETH 2.0, but will also increase the efficiency of the blockchain as the platform moves from a proof-of-work to proof-of-stake consensus method.

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Additionally, much of ETH’s supply is locked up in popular DeFi platforms, causing a further supply crunch for the asset, adds Arnold.

Arnold is also keeping an eye on Cardano heading into the rest of the year, as the platform gears up to introduce fully functional smart contracts in the coming months. The team successfully launched the Alonzo testnet recently, spelling a bullish case for the Charles Hoskinson-led Ethereum competitor.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Here Are Five Low-Cap Altcoins With Potential To Erupt This Month: Altcoin Daily

by Dailyhodl

Altcoin Daily host and crypto analyst Aaron Arnold is breaking down his top five low-cap crypto picks for the month of June.

In a new video, Arnold tells his 829,000 YouTube subscribers that he’s keeping a close watch on the freshly launched Mina Protocol (MINA), which advertises itself as a “lightweight” blockchain platform.

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Mina’s value proposition is that it is compact and unlike other blockchains, it has a fixed size and will not continue to grow, notes Arnold.

“Their blockchain will stay 22 kilobytes forever… More than that, every user acts as a full node so decentralization and permissionlessness is important to them.”

Mina also has deep-pocketed investors such as Three Arrows Capital. The project debuted last week at, and still maintains, a more than $500 million market cap.

Arnold’s second low-cap pick is a new launchpad project, TronPad. TronPad is supported by Binance Smart Chain, notes Arnold, doing the same thing as Binance Smart Chain Pad (BSCPAD) but on the Tron blockchain network.

The analyst adds that TronPad is working with Tron CEO Justin Sun who Arnold labels as a “master marketer.” Arnold bets that TronPad could have a similar run that BSCPAD had, which at one point had a market cap of more than $286 million. According to CoinGecko, TronPad holds a $26 million market cap at time of writing.

Coin number three is Olympus DAO (OHM), which according to the project’s Twitter bio, is a “floating algorithmic currency that promotes stability and predictability without a peg.” The project aims to solve the issue of inflation facing various regions around the world.

At time of writing OHM is trading at around $211 with a market cap of $68.93 million.

Next up is Fear, a non-fungible token (NFT) and gaming project that is developing horror-related NFTs. The project is built on the Ethereum blockchain.

Arnold notes that Fear already has successful products which have gained adoption.

“You can see tons of YouTubers with millions and millions of views and millions and millions of followers playing their original game called Whack It… So they already have this successful game that tons of people play and tons of people stream and now they’re basically integrating NFTs and gaming with Fear.”

Finally, Arnold spotlights Ethereum-based online gambling project Virtue Poker (VPP), which has a licensing agreement with Malta’s gambling regulator. The analyst points out that the project has legendary poker professionals involved such as Phil Ivey and former Celtics player Paul Pierce.

VPP is trading at around $0.37 at time of writing, down over 70% from its all-time high of $1.24.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Pavel Chagochkin

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