According to the video released Friday, popular crypto YouTube podcast Altcoin Daily says there are eight, nine cryptocurrencies that are doing big things in the cryptocurrency space. Here are the cryptocurrencies other than Bitcoin (BTC), the largest cryptocurrency on the analyst’s list…
Short Bitcoin comment from the analyst
According to the analyst, there are many reasons to buy Bitcoin and save it nicely. People take advantage of the bottom. The number of addresses holding at least one Bitcoin has reached an all-time high of 893,000 addresses. The analyst cited a recent tweet by one on chain data account (@onchaincollege). While the percentage of ownership has been on the rise for some time, it has increased in the last few months. People are striving to have a Bitcoin while its price is lower. From May 2020 to February 2022, there was zero percent change for people holding a Bitcoin. However, from February 2022 to early June 2022, there was a 4.8 percent growth in people owning a Bitcoin.
The thing is, people are using the network and buying this cryptocurrency. The data shows that Grayscale Bitcoin Trust holds the largest amount of Bitcoin. Companies in the top 10 include Block One, MicroStrategy, Tesla and the Tezos foundation. People are aware that they need to own more Bitcoin than ever before. Also, regulations have changed positively over the past few years.
Over the last few years, we’ve seen the continued trend of large asset managers (like Blackrock et al investment) to buy Bitcoin. They increase their exposure and commitment. The last reason Altcoin Daily included Bitcoin on its list is because there is a lot going on in the Bitcoin ecosystem. Jack Dorsey’s Block company (formerly Square) recently committed to creating a Bitcoin hardware wallet.
Leading altcoin Ethereum on analyst’s list
Daily Altcoin says Ethereum is the coin to watch in the short term. cryptocoin.com As we have also reported, Ethereum price rises as Merge approaches. Ethereum will surpass proof of work (PoW) forever in about five weeks. It will become a proof of stake (PoS) network. This upgrade is an excellent move for Ethereum to continue to differentiate itself from Bitcoin. ETH Merge is an important milestone. The analyst says they are not selling at any point at the moment. Because no one knows how Ethereum will break after Merge.
Mina Protocol tops Github
Mina has topped 10 Github commits charts in the past six months. The Mina protocol team adds commits to their code. According to analysts, it probably improves the project. Mina has received 2720 Github commits in the last six months.
Avalanche stands out with DeFi Kingdom
There is a tie between Avalanche and Avalanche project DeFi Kingdom (DFK). This play-to-win token is cross-chain gaming, decentralized exchange, farming and playable NFTs. JEWEL is their coin. The daily transactions of DeFi Kingdom subnets exceeded 1 million. DeFi Kingdom is Avalanche’s first subnet and was launched on March 30, 2022. It currently handles more daily transactions than some layer-1 blockchains. According to analysts, Avalanche is included in this list because there are many developments in the network.
Altcoin Daily: “Escape” Chainlink in the short term
Altcoin Daily warns its subscribers to avoid this coin in the short term. This is because Chainlink is approaching a significant supply wall. cryptocoin.com As we reported, Chainlink price rose more than $0.50 in Friday’s trading session. An increase in bullish pressure could cause LINK to gain enough momentum and reach $10. However, some indicators hint that LINK may experience a correction soon. However, it could be bullish in the long run, according to analysts.
Developments do not slow down in the successful platform GALA
With successful gaming and music platforms, GALA also offers fans an interoperable ecosystem where they can add a movie and benefit from cross-content. GALA is partnering with an Emmy-winning film production company to release GALA films. GALA’s first project is the feature-length documentary “Four Down,” directed by award-winning director Stephen Cantor. The film is a film adaptation of the New York Times bestselling book “Not Without Hope”.
The main benefit of GALA film is that it can offer a “watch and win” system. This system is delivered through the same Blockchain technology that powers the GALA music “listen and win” community, where users earn rewards through NFTs and nodes. With GALA film, fans have the power to actively participate in the content they consume, take control of their entertainment through digital ownership, and support new projects by choosing scripts or voting for the cast.
Changes for Axie Infinity (AXS) draw attention
Axie Infinity cuts rewards from classic games, forcing play-and-win players to try new game modes. The team describes this move as one of the ways to attract more users for the new “Smooth Love Potion” token. This industry continues to grow regardless of how these changes and upgrades affect the ecosystem. The number of people working in the blockchain industry has increased by 76 percent. However, there is still a significant gap in technical talent demand.
What are the latest developments in the Binance Coin project?
Major exchange Binance is doing well to the crypto community. The exchange recently helped reclaim $450,000 stolen in the Curve Finance phishing attack. Fixed Float crypto exchange also received about 112 ETH worth about $212,000. Binance founder and CEO Changpeng Zhao said the exchange is working with law enforcement to return the funds to victims.
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