Austin Arnold, who had already pointed out Cardano’s upside potential in the past and now, points out five altcoins that he believes have potential.
The month of August brought a new joy to the cryptocurrency market with the appreciation of Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Binance Coin (BNB), Solarium (SOL), among other crypto assets that once again pushed the market capitalization of the sector above US $ 2 trillion.
Now, with the month drawing to a close, investors are looking for which cryptocurrency to buy in September that can print the most profit and appreciation.
One such investor is the presenter of Altcoin Daily, Austin arnold, which in the past had already pointed out Cardano’s upside potential and now, in a new video, points out five altcoins that it believes have growth potential in the coming month.
According to him, cryptocurrencies with upside potential in the next 30 days are Tezos (XTZ), VeChain (VET), Ethereum (ETH), Cosmos (ATOM) and Cardano (ADA).
Altcoins with upside potential
To justify his choice, in the case of Tezos, Arnold highlights the adoption of XTZ among various financial and investment companies. blockchain based in Switzerland, such as Crypto Finance Group, InCore Bank and Inact.
Cardano is expected to have a good month again during September
In a joint statement, the three Swiss firms say they have chosen to adopt Tezos “because its governance in the chain allows updates without interrupting or dividing the network.”
Therefore, the analyst believes that these financial companies are using Tezos to create a specific niche. In Brazil the BTG bench issue your token or Reitz using the Tezos blockchain.
“So it looks like they are creating their own little niche – a Tezos token standard to specifically work with bodies and financial institutions that need some kind of compliance.”
As for VeChain. Arnold notes that the blockchain has committed a million dollars to fund the development of its own market for non-fungible tokens (NFTs), establishing the blockchain’s participation in the future of the NFT.
“As a key player in the real world of business, enterprises will be the main driving force behind the mass adoption of NFT technologies, and as such, the best way to facilitate this adoption is to develop and support a vibrant NFT ecosystem using the platform. VeChainThor “.
Ethereum and Cardano
Arnold’s bets are also focused on more established cryptocurrencies that are in the top 3 on the market, such as Ethereum and Cardano. In the case of ETH, the expectation around ETH 2.0 stands out as the main point of valuation.
It alleges that six large companies in the ecosystem, including Kraken and decentralized finance protocols (DeFi) Uniswap, The Graph, Compound, Lido and Synthetix, have each donated $ 250,000 for a total of $ 1.5 million to support Ethereum’s upcoming “2.0” update efforts.
“And the reason this is important to you is because this is showing us that the entire crypto asset ecosystem, or at least many, many key players, are donating money and resources to support the success of this major ETH upgrade.” .
In the case of Cardano, the trader believes that the prominent community of the network will grow even more following the official announcement of Japan that Cardano will be listed in the East Asian country on August 25, after the asset has successfully surpassed the strict regulatory controls.
“First of all, although Cardano obviously has a much smaller market capitalization than [Bitcoin y Ethereum], its actual volume on the network is very similar to that of the other two. That’s a good sign … “, he said also citing the update that will enable smart contracts in ADA as a catalyst for a new price hike.”
Slow and non-stop Ethereum continues to grow and maintain its second place among cryptocurrencies
Finally, the analyst points out that the integration of Bitcoin with Cosmos should boost the price of the cryptoasset and, at the same time, bring BTC into the universe of DeFi, NFT and others.
“Bitcoin comes to the Cosmos network via interBTC, a DeFi platform that allows Bitcoin users to invest, earn and pay with their BTC on any blockchain. The latest award of the Cosmos network by the Interchain Foundation (ICF) to Interlay , creator of interBTC, marks the first step in this transition, “according to Arnold.
Therefore, according to him, Bitcoin on the Cosmos platform will bring deep liquidity to the ecosystem and significantly increase the utility and reach of Cosmos DeFi and with that the price of the cryptocurrency is likely to rise.