Aaron Arnold, a popular crypto trader and co-host of the Altcoin Daily channel, shared his top five crypto assets that he thinks are ready to move.
Trader has 1.08 million YouTube subscribers; your first choice Polkadot (DOT) says it is. Arnold thinks DOT is ready to rally in November as the platform’s highly anticipated parachain slot auctions, which will enable blockchains to launch on the network, are starting to bear fruit.
The analyst also quotes a tweet shared by the polkadot team explaining the motion to enable the parachain registry:
“Parachain auctions will likely start on November 4th and if not November 4th [o zaman] It will start there together. The point is, Polkadot is rising to its next level.”
Polkadot hit an all-time high about 12 hours ago and is currently trading at $53.38, according to CoinGecko data.
Ethereum’s (ETH) major smart contract rival in second place on analyst’s favorite list Avalanche (AVAX) exists. Arnold notes that AVAX is growing in popularity among venture capital investors.
“The Avalanche Foundation continues to pour VC money into its ecosystem, which means it attracts some of the best in the field. This is extremely bullish for Avalanche.
They are spending money and will bring a lot of creation/build, development and money to the platform so I am optimistic about Avalanche.”
The developments that will increase the price of AVAX do not end here; According to Trader, the Avalanche Foundation has recently launched Blizzard, a $220 million investment fund that will promote development in decentralized finance (DeFi) and non-fungible token (NFT) platforms, as well as other ’emerging use cases’.
Arnold’s third pick for his favorites list, which recently fell to 6th on the list of cryptocurrencies. Cardano (ADA). The analyst points out that, citing on-chain data from the Cardano smart contract blockchain, it shows that usage on the network is increasing rapidly.
I’m on the rise with Cardano, especially for this reason: Whether we’re talking about the total number of transactions, the daily transaction, or the total fee per day, the use of Cardano (ADA) is on the rise…
All of this is incredibly positive for Cardano and it’s great to see its ecosystem growing so quickly.”
As we reach the bottom of the favorites list, the analyst uses the metaverse token. Decentraland (MANA) lists it as one of the top competitors for other cryptos.
He says Facebook’s announcement to focus on metaverse development drew the attention of investors to the industry, which may have helped MANA’s price explode more than 300 percent. At the time of writing, MANA is trading at $2.86, 40 percent below its all-time high.
Finally, Arnold to THORChain (RUNE) also takes a look. He states that the platform brings greater interoperability to DeFi, highlighting the protocol’s ability to enable cross-chain exchanges between Ethereum, Bitcoin (BTC), Binance Smart Chain (BSC), and THORChain.
“To be honest with you, the more I learn about THORChain, the more I get into it. It looks useful.
Of course there is no KYC (know your customer) with all this which makes it very cool as I said.”
At the time of writing, RUNE is trading at $15.29 according to data from CoinGecko and is expected to climb to the previous all-time high at $20.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.