The issue of which altcoin will rise in the coming weeks has always attracted attention. Accordingly, the waiting for a rising star in the crypto money market does not end. For these expectations, we focused on cryptocurrencies. Let’s see what’s on the radars?
Expectations for 7 altcoins
As we stated as Kriptokoin.com. Some tokens have made significant moves. This week, NEO (NEO), SingularityNET (AGIX), IOTA (MIOTA), Conflux (CFX), and Arbitrum (ARB) stand out. When choosing these assets, there are positive technical developments. Also noteworthy are important news events and significant changes in price. According to this moment, altcoin NEO (NEO) is the biggest winner of the week, with the coin rising by 21%. This was probably due to the announcement of a partnership with Alchemy Pay. SingularityNET (AGIX) experienced a 16% price increase, possibly due to the general increase in interest in artificial intelligence (AI). IOTA (MIOTA) is up 13%, perhaps as a result of positive developments regarding the Shimmer Ethereum Virtual Machine, or EVM. The price of Conflux (CFX) also rose 13%, possibly due to a partnership announcement with Tenet. Arbitrum’s (ARB) token is up 10% after integration with Ledger and overall network growth.
Cryptocurrency strategist Benjamin Cowen talks about the potential performance of Ethereum (ETH) going forward compared to Bitcoin (BTC). Cowen calls out to his 783,000 subscribers in a new YouTube video. Cowen says that the Bitcoin dominance chart (BTC.D) appears to be in a strong uptrend. Meanwhile, the crypto analyst says that the Bitcoin (ETH/BTC) chart against altcoin Ethereum is heading in the opposite direction. Cowen also says that one of the reasons why the ETH/BTC pair did not fall as fast as in the 2018-2019 bear market is due to the amount of liquidity in the system.
Special highlights for Solana
A popular crypto analyst considers Altcoin Ethereum (ETH) rival Solana (SOL) to be significantly undervalued. In a new update, the host of InvestAnswers addressed 444,000 YouTube subscribers. He stated that the number of daily active addresses on Solana rivals that of Ethereum. However, he says it is currently only worth 1/25 of the market cap of ETH.
Ethereum’s market cap is hovering around $227.5 billion at the time of writing. Accordingly, 1/10 of this will be around $22.75 billion. Solana’s market capitalization is currently $8.1 billion. In other words, reaching 1/10 of Ethereum’s market capitalization would equal about a 3-fold jump. Altcoin SOL is trading at $20.57 at the time of writing. The 11th largest crypto asset by market cap has dropped more than 1% in the past 24 hours.
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