These Crypto Assets Have 10X Potential in 2022, According to Altcoin Daily

Crypto analyst and host of Altcoin Daily Austin Arnold is laying out his top crypto picks as the markets try to shake off a sluggish start to the year.

In a new video, the closely followed trader tells his 1.19 million subscribers that he remains interested in Bitcoin (BTC) as an asset despite the massive selloff which the top crypto has undergone since hitting an all-time high above $69,000 in November.

“People are buying the dip from every exchange. Bitcoin is leaving exchanges.

Miners are not selling their Bitcoin, they’re holding onto it.”

At time of writing, Bitcoin is down 2.02% to $42,613.

Next on Arnold’s list is the leading smart contract platform Ethereum (ETH), noting that,

“Ethereum has its own supply shock going on.

Ethereum 2.0 deposit contract has surpassed $30 billion in value. Once [holders] put their ETH in the deposit contract, they can’t take it out again until it is fully transitioned.”

Ethereum is down 2.17% on the day and trading for $3,259.

The show host has his eye on decentralized finance protocol Uniswap (UNI), which recently deployed on fellow layer-2 protocol Polygon (MATIC).

“2022 might be the year of layer-2s.”

Uniswap is valued at $15.61 while Polygon is trading for $2.26.

Another layer-2 the Altcoin Daily host is keen on is Immutable X (IMX), a scaling solution for non-fungible tokens (NFTs) that aims to enable near-instant, zero gas fee transactions.

The altcoin is down 3.24% on the day and priced at $3.55.

Next on Arnold’s list is the open-source platform Tezos (XTZ), which has been racking up corporate partnerships lately. The latest milestone sees apparel giant The Gap releasing NFT collectibles based on the Tezos platform.

“Tezos is certainly an altcoin to watch doing big things.”

Tezos is also down slightly today to $4.18.

Looking at the Internet of Things space, the Altcoin Daily host highlights open-source public blockchain Helium Network (HNT), which recently surpassed the 450,000 hotspot milestone.

Arnold says of Helium,

It is a quality [venture capital]-backed project.”

The altcoin is currently priced at $32.59, down 7.23% on the day.

Enterprise-grade scalable blockchain platform Elrond (EGLD) also makes the list of crypto assets to watch after acquiring Web3 payments provider UTRUST (UTK), which in turn integrated EGLD as a form of payment.

Big win for EGLD.”

Elrond continues the overall daily downtrend and is off by 6.57% to $196.72.

Last on the Altcoin Daily docket is decentralized exchange platform dYdX (DYDX), which the host notes is aiming to achieve full decentralization by the end of this year.

Currently, dYdX is up 2.38% and changing hands for $7.81.

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Featured Image: Shutterstock/wacomka/Andy Chipus


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Helium Network Raises $111M through Token HNT Sale, Hitting a Three-month High

The Helium network, supported by Andreessen Horowitz, raised $111 million through the sale of its native token (HNT). HNT token rose by 25.78% within 24 hours, and the price hit a three-month high.

The decentralized peer-to-peer (P2P) 5G wireless network received a total of $111 million in financing from venture capital giants such as Andreessen Horowitz, Ribbit Capital, mobile operators’ eSIM service provider 10T, Multicoin Capital, and Alameda Research, according to Bloomberg report.

The funds raised this time will be used to accelerate the launch of Helium’s 5G network that provides Internet access and expand the use of mobile network operators and mobile virtual network operators. 

Ali Yahya, the general partner of Andreessen Horowitz, stated that the Helium network expands its unlimited coverage by rewarding wireless devices powered by the Helium blockchain that can mine its network token HNT——This move will “challenge centralized incumbents” and will also become a strong rival in the current telecom market.

Ali Yahya added that:

“Helium is transforming the way we connect to and scale wireless networks globally.”

After the news was released, the price of HNT surged from a low of $14.03 to an intraday high of $18.14. At the time of writing, HNT was trading at $18.10.

Helium network, founded in 2013, is the world’s first peer-to-peer LoRaWAN wireless IoT network, also known as “The People’s Network”. 

Helium’s expanding hotspot network, as of August 10, the network has 119,036 nodes running on the Helium network, most of which are concentrated in the United States, Europe, and China. The addition of large organizations such as Andreessen Horowitz also confirms the future development of the network in the future.

As reported by Blockchain.News on July 21, the well-known NFT trading platform giant OpenSea announced the completion of a $100 million Series B financing led by venture capital firm Andreessen Horowitz (a16z) and officially joined the crypto unicorn track.

Image source: Shutterstock


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