Crypto analyst and Altcoin Daily co-host Aaron Arnold shares five of the best altcoin projects he thinks are poised to explode. we too cryptocoin.com We have compiled the analyst’s posts for our readers.
Analyst thinks DOT is ready to rally in November
The analyst tells his 1.08 million YouTube subscribers his first choice is Polkadot (DOT). Aaron Arnold thinks DOT is ready to roll out in November as the platform’s highly anticipated parachain slot auctions are starting to bear fruit, enabling blockchains to launch on the network. The analyst shares a tweet from the altcoin team explaining the move to enable the parachain registry:
Parachain auctions will likely start on November 4th, and if not by November 4th, it will be there sometime in December. The thing is, Polkadot is entering its next level.
Polkadot recently broke all-time highs (ATH) and is currently trading at $52.97, according to CoinMarketCap data.
Aaron Arnold has high hopes for AVAX and ADA
The next altcoin is Ethereum (ETH) smart contract rival Avalanche (AVAX). Aaron Arnold notes that AVAX is growing in popularity among venture capital investors:
The Avalanche Foundation continues to pour VC money into its ecosystem. That means it attracts some of the best in the field. For Avalanche, this means a lot of ascension. They spend the money and will bring a lot of construction, development and money. That’s why I’m optimistic about Avalanche.
The analyst recalls that the Avalanche Foundation has just launched Blizzard, a $220 million investment fund that will encourage development in decentralized finance (DeFi) and Non Fungible Token (NFT) platforms, as well as other ’emerging use cases’.
Aaron Arnold’s third pick is Cardano (ADA). He points to on-chain data from Cardano smart contract Blockchain, which shows that usage on the network is growing rapidly:
Cardano has risen especially because of this: Although we are talking about the total number of transactions, daily transactions, daily total fees, the use of Cardano (ADA) is increasing. All of this is incredibly positive for Cardano, and it’s good to see its ecosystem grow so much.
Analyst’s other altcoin picks: MANA and RUNE
The analyst also lists the metaverse token Decentraland (MANA) as one of the top competitors. Aaron Arnold states that Facebook’s announcement to focus on metaverse development has drawn investor attention to the industry, which may have helped MANA’s price explode more than 300%. At the time of writing, MANA was trading at $2.83, down 0.88% in the last 24 hours, according to CoinMarketCap data.
Finally, Aaron Arnold takes a look at THORChain (RUNE). The analyst states that the protocol brings greater interoperability to DeFi, highlighting its ability to enable cross-chain exchanges between Ethereum (ATH), Bitcoin (BTC), Binance Smart Chain (BSC), and THORChain:
To be quite honest with you, the more I learn about THORChain, the more I get into it. It looks useful. No KYC (know your customer) with all this of course. Which makes it very cool again.
At the time of writing, RUNE was trading at $14.70, down 10.69 percent in the last 24 hours, according to CoinMarketCap data. The altcoin, which reached its ATH of $ 21.26 on May 19 this year, is currently 30.50% away from its ATH.
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