Altcoins on the Rise from CoinFlip Founder
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As Shiba Inu coin continues to soar, investors may consider jumping on the altcoin bandwagon. But which of the thousands of coins are smart investments?
According to Daniel Polotsky, founder and chief advisor of CoinFlip, the country’s largest crypto ATM network with more than 3K locations, his eyes is set on Uniswap, Solana and Avalanche as well as Cosmos and Samoyedcoin.
“While I can’t predict which alt coins will surpass Shiba Inu, one I am currently watching is Uniswap (UNI). UNI is a decentralized exchange (DEX) and automated market maker (AMM) that allows investors to trade Ethereum-based tokens directly with one another through automated liquidity pools. Because it is so easy to use and allows for a totally peer-to-peer experience, UNI is one of the most popular DEXs with significant trading activity. UNI shows a lot of potential because of how popular the protocol has been. However, due to an increase in both the price of $ETH and network congestion, Ethereum’s gas prices are extremely high, costing users over $100 per transaction on average.
Other alt coins I’ve been monitoring are Solana and Avalanche due to their extremely low fees and impressive speed. Cosmos (ATOM) has also grabbed my attention because it is a popular interoperability blockchain which allows separate chains to actually interact regardless of having different validators and security measures.
In terms of meme coins, Samoyedcoin (SAMO) has piqued my interest. Like Dogecoin, it bears the face of a cute dog and is intended to be lighthearted and fun in an attempt to be an ambassador for Solana. Because Samoyed exists on the Solana blockchain, it benefits from transaction times of less than one second, making it much faster than both Dogecoin and Shiba Inu. Its price is also currently around 1/100 of the market cap of $SHIB, giving $SAMO a ton of growth potential.”