Aaron Arnold, a million-follower Youtube analyst, says Solana (SOL) and its 4 altcoin projects will be “explosive” this year. According to the analyst, 2022 will be a year when scaling solutions will come to the fore. Arnold lists several reasons for this.
NFT and DeFi market include “explosive” altcoins
Aaron Arnold said in his latest YouTube post that the growing interest in the NFT and DeFi market has been backed by several altcoin projects. The analyst suggests that successful projects will be Layer 1 and 2 Blockchains:
I’m talking about quality first and second layer Blockchains. Projects with real effectiveness in the protocol. Projects in this area will be explosive this year. This is because in the NFT domain, the amount of activity we see in the DeFi domain continues to be parabolic.
- The leading smart contract platform Ethereum is up 4.47% in the last 24 hours at the time of writing and is trading at $3,259.
- Rival smart contract platform Solana is pairing with the current market rise 4.88% and trading just above $140.
Polygon (MATIC), another tier-two scaling solution that the analyst is bullish on, is up 4.19% in the last 24 hours. It has dropped 25% since December 27, when it reached ATH alone.
Aaron Arnold adds 2 altcoin projects
Further down the list is Immutable X (IMX), the scaling solution for NFTs that aims to enable zero gas fee transactions. IMX was up 3.11% in the 24-hour period. It is trading 61% below the $9.50 level it reached at its November market peak. cryptocoin.com Aaron Arnold, whose analysis we share with you, also talks about another Tier-2 scaling solution, Metis Token (METIS). The 154th-ranked cryptocurrency by market cap is trading at $297.28, up 9% at the time of writing.
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