Cryptocurrency analyst Michael van de Poppe shared various comments for the three altcoins. The analyst conveyed his expectations in cryptocurrencies such as Chainlink, Ethereum, EOS. Here are the details…
Michael van de Poppe shared his altcoin comment
Michael van de Poppe, crypto analyst and CEO of Eight Global, reveals that LINK could be an opportunity of a lifetime. He believes Chainlink in the $6-8 range is a great opportunity. LINK also broke the key $7 level and is currently trading at $7.61. The total market value of LINK also increased by close to 8 percent.
Many experts in the crypto and blockchain space see Chainlink as a valuable asset. Unlike many tokens, it has a clear use case in the Web 3.0 space. Chainlink is a Blockchain company that provides a wide range of tools for smart contracts and Blockchain platforms. It also dominates the Oracle market in the Web 3.0 space. Oracle is a technology that provides off-chain data to Blockchain platforms.
Oracles allow blockchains to take data from the real world and compute on it without sacrificing decentralization. The decentralized data streams provided by Chainlink have many use cases in DeFi. Major companies like Binance, Kraken, AccuWeather, and CoinMarketCap support Chainlink’s data streams. The company also provides its own VRF. VRF stands for Verifiable Random Function and is a popular random number generator. VRF brings randomness to Blockchain platforms without compromising security and decentralization. Companies like Aavegotchi, Ether Cards, PoolTogether, and Polychain Monsters are using Chainlink’s VRF.
Market overview
The analyst also said that BTC must find support above $19,500 to ignite a rally. He also draws attention to the importance of the speeches on monetary policy by European Central Bank (ECB) President Christine Lagarde and Fed President Jerome Powell. The analyst later added that it was “month” after the top smart contract platform Ethereum bottomed on September 7, and altcoins followed in their footsteps.
ETH was in the $1,500 range at the time Van de Poppe made his tweet. It quickly jumped to $1,643 before stabilizing around $1,623 at the time of writing. Van de Poppe then sets his sights on Ethereum rival EOS (EOS). He says the smart contract platform is on track to hit the $2 price level after a strong bounce. The trader concludes his analysis by looking at the total market cap of the crypto industry, saying that a “nice” retest of its 200-week moving average (MA) is on the horizon.
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