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7 altcoins that are 'about to explode', according to a cryptocurrency analyst



Crypto influencer Aaron Arnold has mentioned 7 altcoins from which he expects a bullish rally in the near future. Speaking to his 947,000 YouTube subscribers of his channel called "Altcoin Daily", Arnold declared Ethereum one of these cryptocurrencies.

According to him, Ethereum (ETH) is "about to explode" because its network is continually thriving. The coin is also experiencing a supply shock as a result of the rate-burning mechanism of the recently implemented EIP-1559 update. The influencer pointed out;

A lot of good things are happening in the Ethereum ecosystem. How not to be optimistic?

Furthermore, the current Ethereum trade price has fairly stable support as the selling pressure eases. At the time of writing, the digital currency was trading at $ 3,243, according to our data. This is around 34.7% of its May all-time high of $ 4,200.

More Altcoins close to "exploding"

Cardano (ADA), Ethereum's biggest rival, is the second altcoin with an imminent price surge. According to Arnold, network interoperability is advancing rapidly with the launch of smart contracts right on the cusp. Furthermore, Cardano is getting an Ethereum-compliant sidechain, bringing Ethereum's smart contracts to Cardano. The sidechain will use wrapped ADA (AMA) as digital currency for payment of transaction fees. Called "Milkomeda," the project promises to provide interoperability between Cardano and other layer one blockchains, such as Solana.

"The point is, everything is becoming interoperable, and it's good that all these networks are working with each other and talking to each other," Arnold commented.

Third, Arnold highlights Solana (SOL) and chainlink (LINK) blockchain oracle, as well as other altcoins with fast-growing interoperability. He referred to the fact that Solana developers can now use Chainlink DeFi pricing. The launch of LINK in Solana would allow other platforms to access reference data in real time. His feelings are therefore optimistic for both of them.

Avalanche's native token (AVAX) is fifth on the crypto YouTuber list. The smart contract platform has recently been onboarding top-of-the-line DeFi projects, contributing to its growth. These include Aave (AAVE), Curve (CRV), and Sushiswap (SUSHI), among other emerging DeFi projects.

Additional reviews

Enjin (ENJ), a non-fungible token and gaming platform (NFT), is the next Arnold draws attention to. The protocol recently partnered with the social network Blockster to grant NFT to the first 400,000 users.

Lastly, the crypto YouTuber mentioned XRP, the native digital asset in Ripple's XRP Ledger. His optimism is based on the Parabolic SAR (stop and reverse) readings, indicating that a breakout is taking place. He said;

XRP is on the verge of a 30% price movement. XRP looks poised to increase volatility.

Arnold added that the XRP outlook remains despite ongoing litigation from the Securities and Exchange Commission (SEC). A common trait for all the cryptocurrencies on the YouTuber list is that they all have upcoming or recently made updates.

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