A popular crypto trader and analyst is naming six altcoin projects that are witnessing new levels of adoption as the crypto markets recover.
In a new update, Altcoin Daily co-host Aaron Arnold tells his 1.23 million YouTube subscribers that Ethereum (ETH) is the clear leader in mass crypto adoption.
Arnold points to a tweet from Bloomberg strategist Mike McGlone in which the respected analyst calls ETH the “collateral of the internet.”
“Demand is increasing, supply is declining and Ethereum’s position at the epicenter of the digitization of finance and money suggests further price appreciation.
Ethereum — the denominator for [non-fungible tokens] and top platform for tokenization — is becoming the collateral of the internet.”
Sticking with NFTs, Arnold foresees massive adoption of the Cardano (ADA) blockchain, an Ethereum competitor. Arnold says ADA is about to be pushed even further into the crypto spotlight because of a recent announcement that world-famous rapper Snoop Dogg is releasing an NFT collection on Cardano.
This will be fun ? #Cardano https://t.co/rxgYimMQW7
— Snoop Dogg (@SnoopDogg) March 31, 2022
The ADA project is far from Snoop’s first foray into the blockchain – the Southern California rapper released NFTs on the Gala (GALA) platform earlier this year.
On the subject of Ethereum non-fungible tokens (NFTs), the Altcoin Daily co-host also draws attention to Azuki (AZUKI), a new Ethereum-based NFT project with an upcoming airdrop.
Something is coming.
Official collection: https://t.co/GAIxuAduYC pic.twitter.com/j7QhTqhhPt
— Azuki (@AzukiOfficial) March 31, 2022
Azuki is up 54% over the last 24 hours, trading for $0.05 at time of writing.
Also on the subject of NFTs, the Altcoin Daily co-host says Solana (SOL) will see an adoption spike thanks to leading NFT marketplace OpenSea’s announcement of support for SOL-based NFTs, beginning later this month.
#SolanaNFTs are coming to @opensea in April ? https://t.co/RHdH8HuWUl
— Solana (@solana) March 29, 2022
Arnold is also bullish on the future of Solana-based altcoin STEPN (GMT), a lifestyle app with a recent hint at a major upcoming industry announcement.
A beginning of many possibilities! pic.twitter.com/jfYPB7Pwe0
— STEPN | Public Beta Phase III (@Stepnofficial) March 28, 2022
Finally, the Altcoin Daily co-host says Polkadot (DOT) is one step closer to widespread mainstream adoption. Arnold’s prediction is based on the news that DOT parachains Acala and Karura will connect Polkadot and Kusama (KSM) to the wormhole multi-chain bridge – an upgrade will make DOT interoperable with most layer-1 blockchains, such as Ethereum and Solana.
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Featured Image: Shutterstock/Undersacred Studio/Natalia Siiatovskaia
