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Altcoins
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May 12, 2021

Cardano To Spearhead Altcoin Eruption, Says Crypto Trader Aaron Arnold

By Daily Hodl Staff

Popular crypto trader Aaron Arnold is a Cardano (ADA) bull.

Arnold tells his 750,000 YouTube subscribers that he is optimistic about the Ethereum rival because he thinks it will ride on the wave of ETH’s success.

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“I am a Cardano bull this cycle. I think there are plenty of reasons to be bullish on Cardano. Now the biggest reason I am bullish on Cardano this cycle is because I’m bullish on Ethereum this cycle…

In a world where Ethereum is this valued and this speculated on, I think Cardano is going to do well… Many different metrics now are trending up on Cardano.”  

ADA, the seventh-ranked crypto asset by market cap, is trading at $1.65 at time of writing and is up nearly 24% in the past two weeks, though it is down nearly 8% in the past 24 hours, according to CoinGecko.

Arnold says he is also bullish on Cardano due to the project’s upcoming developments: In April, IOHK (Input Output Hong Kong), the asset’s development company, announced the “Alonzo” upgrade will launch in August and integrate smart contracts to the Cardano blockchain.

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Arnold also makes note of the project’s social engagement, pointing to the fact that there are more than 400,000 “Cardanians” on Reddit.

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Featured Image: Shutterstock/Mia Stendal