The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ethereum Competitor Appears Ready for Major Rally As 2021 Comes to a Close, According to Coin Bureau

by Daily Hodl Staff
November 23, 2021
in Altcoins

The host of popular crypto channel Coin Bureau says that one mid-cap Ethereum competitor could spike before the year ends.

In a new video, the analyst known as Guy tells his 1.66 million YouTube subscribers that layer 2 protocol Harmony (ONE) could be the “one” coin to rule them all.

Harmony is a blockchain focused on powering decentralized economies by assisting users in building marketplaces for both fungible and non-fungible digital assets. Guy says that the project is reminiscent of Ethereum 2.0, and highlights the considerable speed of its network.

“Harmony looks like Ethereum 2.0 under the hood. This is because Harmony leverages the Ethereum Virtual Machine (EVM) for smart contracts and uses a sharded proof-of-stake blockchain consisting of four shards. Each shard can process up to 500 transactions per second, meaning Harmony can currently process around 2000 transactions per second, with a transaction finality of 2 seconds.”

The closely followed analyst also explains the deflationary nature of Harmony’s ONE coin.

“Apart from staking, the ONE coin is used for governance and to pay for transaction fees…When it comes to transaction fees, all ONE coins used to pay for transaction fees on the Harmony blockchain are burned. However, ONE is not deflationary. This is because a fixed supply of 441 million ONE coins are minted every year, and ONE coin transaction fee burns are designed so they only burn the ONE coins that would otherwise be minted.”

Due to solid fundamentals and tokenomics, the Coin Bureau host thinks ONE can reach easily reach new all-time highs in the coming months.

“… ONE coin should have an easier time reaching new all-time highs. And my long-term technical analysis suggests it could hit $0.50 later this year or early next year.”

While noting that Harmony is currently more centralized compared to other cryptos, Guy says that the project has been “dead set on decentralization since day one.”

Should it become more decentralized, Guy says that ONE may end up being listed on top US crypto exchange Coinbase, but end up facing stiff competition from other projects with more “manpower” like Ethereum (ETH), Solana (SOL) or Avalanche (AVAX).

“Even if [a Coinbase listing] happens, though, Harmony risks being crushed by competition simply because it lacks the manpower to meet its milestones. 

Despite Harmony’s uphill battle for smart contract platform dominance, Guy thinks ONE coin could one day be “a top contender” in the category.

“If Harmony can successfully attract the devs it needs to meet its milestones, the ONE coin could become a top contender for the king of smart contract cryptocurrencies.”

ONE is currently trading at $0.32, up 12% over the last day.

I

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
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/Natalia Siiatovskaia/Tithi

Submit a Press Release

Industry Announcements

  • Sui Joins DeFi Leaders, Topping $100 Million in Bridged USDC
    December 7, 2023
  • WOW EARN Unveils Layer One Blockchain, Redefining Efficiency and Global Accessibility
    December 5, 2023
  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$43,273.59
$43,273.59
0.99%
Ethereum
$2,359.84
$2,359.84
4.71%
Cardano
$0.480452
$0.480452
8.76%
XRP
$0.642814
$0.642814
0.38%
Dogecoin
$0.097348
$0.097348
1.19%

Spotlight

  • Willy Woo Says On-Chain Bitcoin Metric Flashing Same Bullish Pattern As Last Year’s Market Bottom
    December 1, 2023
  • MicroStrategy Doubles Down on Bitcoin, Acquires $593,300,000 Worth of BTC As Top Crypto Asset Trades Sideways
    December 1, 2023
  • Polygon Whales Go on Buying Spree As $90,000,000 Worth of MATIC Gets Scooped Up: Trader
    December 1, 2023
  • More Than $91,000,000,000 Worth of Crypto Sitting Within Binance, Bitfinex and OKX Reserves: On-Chain Data
    December 1, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl