The month of August brought new joy to the cryptocurrency market with the appreciation of Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), among other crypto assets that boosted again the market capitalization of the sector above USD 2 trillion.
Now, with the month coming 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 signaled Cardano’s upside potential and now, In a new video, he points out five altcoins that he thinks 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 your choice, in the case of Tezos, Arnold highlights the adoption of XTZ among various Swiss-based blockchain and financial companies such as Crypto Finance Group, InCore Bank, and Inacta.
In a joint statement, the three Swiss firms state that they have chosen to adopt Tezos “because its governance in the chain allows to carry out 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 Bank issues its 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 points out that the blockchain has committed a million dollars to fund the development of its own market for non-fungible tokens (NFT), establishing blockchain involvement in the future of NFTs.
“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, they have donated each one USD 250,000 for a total of USD 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 also said, citing the upgrade that will enable smart contracts in ADA as a catalyst for a new price hike.”
Finally, eThe 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.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trade move involves risk, you should do your own research when making a decision.