Amid the recovery of the cryptocurrency market, which was led by the return of the price of Bitcoin (BTC) above $ 40,000, experts seek to point out which crypto assets can rise and even exceed the appreciation of the main cryptocurrency on the market.
One of these experts is the analyst known as Guy, who drives Coin Bureau and for him, Even if Bitcoin surpasses the $ 60,000 mark again by the end of the year, it should not exceed, in valuation, the rise of five cryptocurrencies linked to a new era of smart contracts.
According to the analyst, the first cryptocurrency on his list is Ethereum (ETH) qthat it has already risen more than Bitcoin this year and that it will change its consensus algorithm from proof-of-work (PoW) to proof-of-stake (PoS) and with this, it will inaugurate a new stage in the largest altcoin on the market.
Furthermore, the analyst lists several catalysts that could launch Ethereum to higher levels, including the possibility of approval of an exchange-traded fund (ETF) based on Ethereum.
It also notes that institutional demand for ETH has grown and that the recent update of the EIP-1559 it should turn ETH into a deflationary asset.
“I think it can be easily argued that 1 ETH will go from $ 6,000 to $ 7,000 by the end of the year,” he notes.
Cardano, Catalyst and Solana
Another cryptocurrency on the trader’s list is Cardano (ADA), which has been touted as Ethereum’s main competitor and was created by one of ETH’s co-founders.
“Although Cardano’s upside potential is also limited due to its large market cap, it has much more room to grow than Ethereum, and that’s for many reasons. For starters, ADA has maintained its bullish momentum against all odds. It has held up. strong despite the recent slowdown, and still in a very evident uptrend. This is because Cardano’s best days are yet to come, “he said.
Coming off Coinmarketcap’s top 10 list, the analyst highlights the Project Catalyst, which is one of the projects that received funding from the Cardano ecosystem and which, according to him, can show a valuation of up to 100 times.
“That earning potential could attract a record number of investors and retail users, and you could see that push ADA into the $ 4-5 range.”
Solana (SOL) is the third cryptocurrency on the analyst’s list and, Guy justifies his choice noting that the Solana network has the ability to process as many transactions as Visa or Mastercard.
Furthermore, he notes that, like Cardano, SOL has held up considerably well during the cryptocurrency markets crash.
Matic and Luna
Guy’s fourth choice is Polygon Sizing Solution (MATIC), a cryptocurrency that is also present in most of the investment indication lists of different analysts.
Guy points out that, Based on the expectation of a wave of new users coming to MATIC, the analyst says that a 264% rally for the altcoin can easily be achieved.
“The massive adoption of Polygon could easily push its price to new highs in late 2021. $ 5 is a realistic estimate in my opinion.”
The last altcoin on Guy’s list and also featured in 80% of the nomination lists of different traders is the cryptocurrency Terra (MOON).
The analyst states that, although Terra has yet to be “battle tested”, a 506% price increase is still possible by the end of the year.
“Now call me crazy, but I could easily see LUNA hit $ 100 by the end of the year if its adoption and innovation continues.”