Altcoin Daily host and crypto trader Austin Arnold is tracking three altcoins that he believes have the potential to explode next month as the projects gear up for major announcements.
At the top of Arnold’s list smart contract platform Cardano (ADA). The crypto strategist tells his following of 388,000 people on YouTube that he’s bullish on the Ethereum competitor’s plans to provide support for native tokens.
“Similar to how ERC20 tokens can be issued on Ethereum, assets are coming to Cardano. When? Well, that date is approaching closer and closer and while much of the Cardano community is thinking that we’re probably ramping up for a late January event slash support of native assets, from my research, it seems like the current plan is for [it] to be released in the middle of February.”
In addition, Austin highlights that Cardano will soon transition from Shelley to Goguen, which will allow the platform to issue native assets that are as secure as ADA and do not require smart contracts.
Coming in at number two is Sushiswap (SUSHI). Arnold says the decentralized exchange (DEX) will make a big splash next month after Sushi rolled out an ambitious roadmap for 2021.
“Here are the highlights of this new roadmap: a cross-chain DEX that will be enabled by RUNE and Moonbeam, and implementation on the Polkadot chain, as well as a fully decentralized governance structure by the end of 2021. That means they’re trending towards more decentralized, which to me is bullish. Also bullish, implementing a cross-chain DEX with the help of Polkadot. That’s huge. That means they’ll be able to work with everybody.”
Arnold also outlines the launch of BentoBox, a lending solution. According to the crypto analyst, the move indicates Sushiswap’s attempt to revamp its image from an automated market maker into possibly a decentralized finance (DeFi) lending and borrowing protocol.
Closing out Arnold’s list is another smart contract platform: Neo. The Altcoin Daily host notes that big changes are coming to the protocol known in the industry as the Chinese Ethereum (ETH).
“It’s clear that Ethereum is absolutely killing it and Neo, where do they fit in in this cryptocurrency world? Well they say themselves, as of today, in 2021, we have value storage protocols by Bitcoin, high-performance public blockchains represented by Ethereum, homegenous cross-chain networks represented by Polkadot, storage protocols represented by Filecoin, Oracle solutions represented by cryptocurrencies such as Chainlink running on layer two, and because of all these things, the next-generation internet or Web 3.0, the puzzle is almost complete.”
Arnold also says that Neo is trying to do it all as the project will fully migrate to a new blockchain dubbed Neo3. The new version of the protocol will come with new features such as a built-in oracle, a decentralized file storage, and a decentralized ID solution, according to Arnold.
He adds that Neo3 will adopt a Poly Network cross-chain ecosystem, a Flamingo-based decentralized finance (DeFi) ecosystem, and a new governance model.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Ollyy