Crypto analyst Aaron Arnold thinks Ethereum (ETH), Solana (SOL) and three other altcoins will be “explosive” this year.
The co-host of Altcoin Daily tells his 1.2 million YouTube subscribers that surging interest in non-fungible tokens (NFTs) and decentralized finance (DeFi) is driving his bullishness on a handful of crypto assets.
“[I’m] talking about quality L1s and quality L2s. I’m talking about projects that have real activity going on on the protocol.
These cryptocurrency projects are going to be explosive this year. Why do I say that?
It is because the amount of activity we are seeing in the NFT space, the DeFi space, just continues to go parabolic.”
Leading smart contract platform Ethereum is trading at $3,129.40 at time of writing, down 0.9% in the past 24 hours, while competing smart contract platform Solana is currently trading at $136.58.
Arnold is also bullish on layer-2 scaling solution Polygon (MATIC), which is trading at $2.04 at time of writing, down 2.57% in the past 24 hours.
Next on Arnold’s list is Immutable X (IMX), a scaling solution for NFTs aiming to enable near-instant, zero gas fee transactions. IMX is trading at $3.57 at time of writing, down 4.67% in the past 24 hours.
Arnold also mentions Metis Token (METIS), another layer-2 scaling solution. The 154th-ranked crypto asset by market cap is trading at $282.99 at time of writing.
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/tutsi