Altcoin Daily co-host Aaron Arnold, is revealing the channel’s list of top crypto assets that are primed to soar higher.
In a new video, Arnold starts his list off with the world’s leading cryptocurrency, positing that Bitcoin (BTC) is getting ready to ignite its next leg up in the bull run.
Arnold cites on-chain data analyst Willy Woo who recently tweeted that the $54,000 level is the “strongest area of BTC price discovery by long-term investors since $11,000.”
“Typically, BTC forms a strong base of price discovery 2-3x above the (prior cycle) all-time high before launching into bull market highs.”
Number seven on Arnold’s list is Ethereum (ETH). According to the crypto influencer, ETH’s recent run-up to all-time highs is a massively bullish signal for the rest of the altcoin market.
“Ethereum is now above $2,000. Ethereum exchange reserves keep depleting. Ethereum [is] continuing to go higher – this is very bullish for altcoins. If Bitcoin was the only thing moving up, then it’d be hard to be bullish on altcoins, but with Ethereum moving up, [we’re] very bullish on altcoins.”
The next coin on the analyst’s radar is Compound (COMP) which he calls one of the “OG DeFi (decentralized finance) protocols.”
Arnold points to COMP’s bullish price action of late and the recent movement of $1.3 billion worth of ETH into Compound by a single crypto whale to justify putting COMP on his list.
“Taking a look at Compound’s price, [around] $500… To me, this looks like it is in a bull trend.”
Coming in at number five is yearn.finance (YFI). Arnold references the yield aggregator’s recent release of a DAO payroll, and asserts that “the price is moving up and to the right, ready to burst through all-time highs.”
The fourth coin gearing up for the next leg of its bull run is Cardano (ADA), according to the trader.
Arnold notes that Cardano developers recently enabled the minting of non-fungible tokens (NFTs) on the smart contract platform. The news makes “Cardano one to watch,” as demand for the unique digital assets rises and high profile celebrities like Snoop Dogg and The Weeknd enter the space.
Next up is Ethereum competitor Polkadot (DOT). Arnold likes the fact that Coinbase Ventures, the investment arm of the US-based crypto exchange, is getting behind Acala. Acala is an Ethereum virtual machine compatible blockchain that is building a suite of DeFi applications on the Polkadot network.
“Coinbase Ventures backing you? That’s bullish in my opinion.”
Arnold also takes note of Kraken CEO Jesse Powell’s recent Polkadot shout-out on Bloomberg Markets and Finance.
“Normally, you only hear these exchange CEOs go on TV and talk about Bitcoin or Ethereum, which is why I was pleasantly surprised to hear Jesse of Kraken endorse Polkadot.”
Coming in at number two is Theta. The delivery network for video content has recently integrated with Anime streaming channel Cinedigm. The channel uses Theta’s TFUEL cryptocurrency as a reward for sharing or watching content.
“[It] might need to correct more, but Theta has a lot of venture capitalist (VC) money and big names backing it. Partnered with Samsung, they are one to watch.”
The number one coin that Altcoin Daily believes is getting ready to explode is NFT platform Ethernity Chain (ERN), which has just recently partnered with Hong Kong-based crypto investment firm Kenetic Capital. Ethernity Chain’s focus is minting digital trading cards for athletes, artists, and influential brands.
“Guys, NFTs, in general, are moving up and to the right. Now Ethernity specifically, very new, and it’s actually in a little bit of a dip. If I had to speculate, if I had to guess, near the end of the year Ethernity will be higher.”
lCheck Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix