Popular crypto trader and analyst Austin Arnold shares with his subscribers 6 altcoin projects on his list that have the potential to explode in 2022. we too cryptocoin.com We have compiled the analyst’s shares and developments regarding altcoins for you.
First on the analyst’s list is Polygon (MATIC)
According to the trader, DraftKings, which is worth approximately $20 billion in the public market, recently used Polygon to support private NFT drops and secondary market operations:
The move will allow the sports betting platform to contribute to Polygon’s management. This sports betting giant is doing everything on the Ethereum layer 2 implementation with a partnership that could make it one of the biggest executives in Blockchain.
The trader says that while the DraftKings Marketplace is still in its infancy, it is in a bullish position due to the possibilities that Blockchain, NFTs, cryptocurrency and more will offer as it prepares for Polygon as well as Web 3.0 and innovations for digital collectibles.
Ranked #8 by market cap, altcoin Polkadot (DOT)
Polkadot hits the headlines in October. Altcoin founder Gavin Wood claims the Polkadot treasury holds over 18 million DOTs (or $806 million), based on what the governance community considers “valuable” to build and improve the Polkadot ecosystem.
The analyst also highlights the upcoming price catalysts for DOT, with 11 parachain auctions kicking off as of Nov.
100 slots can increase Polkadot’s presence in the crypto industry, and parachain advantages such as fork-free upgrades can strengthen the emerging status of the multi-chain system.
Institutional friendly altcoin project VeChain (VET)
VeChain announced a new partnership agreement with DHL, the world’s largest logistics company, to issue a Non Fungible Token (NFT) on the VeChainThor Blockchain. The popular analyst makes the following assessment:
If the digital arts go viral, the partnership will likely bring VeChain’s NFT ecosystem into the limelight, especially as gas fees on Vechain are cheaper compared to other legacy Blockchain networks.
Austin Arnold also points out companies that are starting to use the VeChain Blockchain: BMW (uses VeChain to prevent odometer fraud in car sales), LVMH (uses VeChain to track luxury leather goods), Walmart (uses VeChain to track food supply).
Cardano (ADA) fresh out of the top
One of the biggest announcements of the Cardano Summit, which ended in September, was EMURGO’s $100 million investment in Cardano-focused projects. The analyst shares the following information about the altcoin project:
Through EMURGO, Cardano would invest in a number of startup projects to increase blockchain adoption. The project has had its eye on Africa for some time now, a budding hub for cryptocurrency innovation. It plans to give the necessary support to the projects in order to bring their projects to the ecosystem.
Not only in Africa, but also the analyst notes that Cardano has also recently announced a partnership with DISH’s Telecom services, which is among the top 500 US satellite TV providers. According to the analyst, this is likely to increase Cardano adoption and benefit DISH users with 8 million digital IDs on telephone satellites.
Chainlink (LINK), which uses the technology of many Blockchains
One of the reasons for Austin Arnold’s bullish position on Chainlink is that he has first mover advantage and data feed communication. The analyst makes the following statement:
Chainlink is currently the most widely used decentralized Oracle Network, securing billions of dollars in value for live applications across a multitude of Blockchain and use cases.
Also, the project has tons of exclusive big Partnerships with big companies: Google and also Oracle. Over 75 different Blockchains currently use Chainlink technology. It is also used by many data feeds, including dollar pairs. In August, the Chainlink ecosystem continued its upward trend with 76 new integrations. September overshadowed this significant growth with 84 new integrations, including Cardano’s strategic collaboration to integrate Chainlink Oracles and Chainlink’s Proof of Reserve Data Feed (PoRDF) for Filecoin packaged in Gemini.
Leading altcoin Ethereum (ETH) is also on the list
According to the analyst, it received another update to its calendar as a major step towards the Proof of Stake (PoS) consensus algorithm, which is a major upgrade for the Ethereum (ETH) network. The merger is now expected to happen in May or June next year.
Austin Arnold also states that more than 542,000 ETH, equivalent to $2 billion, have been burned since the launch of EIP-1559.
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