Altcoin Daily founder and crypto trader Austin Arnold is naming five crypto assets that he believes are gearing up to print exponential gains this year.
Arnold tells his 469,000 YouTube subscribers that he is keeping a close watch on Synthetix (SNX) after big venture capitalist firms poured money into the derivatives trading platform.
“Both Coinbase Ventures and Paradigm have invested over $12 million into Synthetix DeFi (decentralized finance) platform. It’s actually three prominent venture capital firms bought tokens directly from the DAO’s (decentralized autonomous organization) treasury. This is huge. We’re seeing actual accumulation from these major venture capitalist players of Synthetix.”
Coming in at number four is smart contract platform Cardano (ADA), which is marching towards full decentralization according to Arnold.
“Cardano is now 80% decentralized with an ETA (estimated time arrival) of 100% decentralization on March 31st. That is 50 days away, moving right along.”
The next coin on Arnold’s list is Litecoin (LTC). The crypto trader cites another video where he offers his price prediction for Litecoin
“Litecoin could easily have 20x from the start of the year. At the beginning of this year, around January 2nd, Litecoin was between $130 and $140. A 20x from something that was around $137 is $2,740 per LTC. Things could get crazy.”
Grabbing the second spot on Arnold’s list is decentralized exchange Uniswap (UNI), which he says has massive potential in the next 12 months.
“Uniswap just became the first trading platform to process over [$100] billion in volume, an exciting milestone for DeFi. With metrics like this right here, we don’t have to guess. We’re seeing the people choose decentralized exchanges. This is when retail is just starting to enter.”
The number one coin on Arnold’s radar is Stellar (XLM) after USDC (USD Coin), a top stablecoin, landed on the blockchain of the payments protocol.
“USDC’s Stellar launch comes after credit card giant Visa revealed in December it would connect its global payments network of 60 million onto USDC. Since then, the number of USDC tokens in circulation has doubled and as more people use the stablecoin, especially as the millions of Visa merchants use the stablecoin, they don’t want to pay those Ethereum congestion fees. ‘We want USDC to be as broadly adopted as possible,’ says Circle. ‘Stellar as a blockchain is designed for payments.’ So they’re going to Stellar.”
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Featured Image: Shutterstock/Tithi Luadthong