An analyst of E-Toro, one of the leading cryptocurrency exchanges, made statements about 4 altcoin projects that he believes will surpass Bitcoin, the largest cryptocurrency. Analyst Josh Gilbert has listed the coins that have the potential to outperform Bitcoin in 2022: MATIC, DOT, LINK and SOL. Details are on Kriptokoin.com.
Which are these four altcoins?
According to Gilbert, one of the altcoin projects with good potential is Polygon (MATIC). According to Gilbert, one of the reasons MATIC is gaining a lot of attention is its extremely low transaction fees. High speed is another factor. Currently, Polygon is the 14th largest cryptocurrency with a market cap of $12.2 billion. MATIC is trading at $1.52, down about 5% at the time of writing.
Solana, one of the fastest blockchains in the world and described as Ethereum’s competitor, is one of the altcoins on Gilbert’s list. Solana has gained momentum in the NFT field. Solana rose impressively in 2021, but saw a drastic correction in 2022, down 57 percent from its high. According to the analyst, Solana’s potential will continue this year. With a market capitalization of $34.8 billion, Solana is the 7th largest cryptocurrency, according to CoinMarketCap data, falling 9 percent in the last 24 hours, increasing 14 percent since last week.
Another altcoin on the analyst’s list is Polkadot (DOT). Altcoin is a blockchain network designed to support various interconnected, application-specific subchains called parachains. Additionally, the crypto asset is trying to enable bridges that will allow the Polkadot network to interact with other ecosystems such as Ethereum and Bitcoin. This will also allow tokens to be exchanged without a centralized exchange. “Unifying blockchains in 2022 will be crucial as decentralized finance gains more momentum,” Gilbert says.
The popular altcoin project Chainlink (LINK) is another project on the analyst’s list. The crypto asset is built on Ethereum and is an ERC-20 token. LINK’s ecosystem supports complex smart contracts and secure interaction between external data, payment methods and events. According to the analyst, Chainlink has good potential because LINK wants to revolutionize traditional finance through DeFi.
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