In a new YouTube video, Altcoin Daily host and popular crypto analyst Aaron Arnold shares his top altcoin picks for November. The analyst says he expects Polygon (MATIC) to increase as companies like Twitter work on projects that require Ethereum layer-2 scaling solutions. Analyst’s shares cryptocoin.com We compiled it for our readers.
Analyst’s favorites Polygon (MATIC) and Avalanche (AVAX)
According to crypto analyst Aaron Arnold, Polygon is booming and aiming for new records:
MATIC looks set to set all-time highs, and that matches what we’re seeing on Blockchain.
The analyst states that Polygon has passed one billion transactions, all processed on the Polygon Proof of Stake (PoS) Blockchain, which is a tremendous milestone, a tremendous achievement. According to Aaron Arnold, Ethereum layer-2 scaling solutions couldn’t have come at a better time, and there is demand for it, especially with all the adoption we’re seeing.
The analyst is also optimistic about smart contract platform Avalanche (AVAX), following Ampleforth (AMPL), one of the original rebasing tokens released on the network:
AVAX provides and works many incentives for different decentralized finance (DeFi) protocols to come to Avalanche Blockchain.
Pointing to Avalanche’s increasing numbers in terms of addresses and transactions, Aaron Arnold adds that the network’s daily active addresses have reached a new peak of around 70,000, representing a weekly increase of over 100%.
Other altcoin projects on the list: LINK, FIL, RUNE
The crypto analyst says he is also optimistic about the decentralized oracle network Chainlink (LINK) and the decentralized peer-to-peer file storage protocol Filecoin (FIL):
I include them because they have worked with many leaders in this field. I think the future is multi-chain, the future can work together.
Aaron Arnold notes that THORchain (RUNE), the decentralized cross-chain liquidity protocol that recently broke volume and liquidity to all-time highs, is also on its list. The analyst states that the platform is now seen as the preferred place for KYC-free (know your customer) and unlimited Bitcoin (BTC) trading in terms of Ethereum (ETH) and ERC-20 tokens. Aaron Arnold predicts that by the end of next January, the network will have more real Bitcoins than Wrapped Bitcoin (WBTC) on the Uniswap exchange.
THORchain makes some impressive metrics.
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