Michael van de Poppe, one of the most popular cryptocurrency analysts, said that he has plans to amass some altcoin projects. The analyst stated that he has his eyes set on seven altcoins in particular. Here are the details…
Michael van de Poppe to hold some altcoin projects
Crypto strategist Michaël van de Poppe said he plans to accumulate seven altcoins. Among them are three Ethereum (ETH) competitors. The analyst says he has his eyes on Chainlink (LINK) first. Chainlink is a Blockchain abstraction layer that enables universally connected smart contracts. Chainlink enables Blockchains to serve external data feeds.
On the other hand, the analyst drew attention to the native token of XCAD Network. XCAD Network provides content creators with DeFi tools to create an economy. It is also active in the non-fungible token (NFT) space. Van de Poppe also stated that he has his eye on Skale (SKL). SKALE is defined as a network designed to bring scalability to Ethereum. It allows developers to create chains that are compatible with ETH.
Also, the analyst is looking at the Blockchain technology Quant (QNT), which offers interoperability for possible transactions. According to Van de Poppe, QNT is currently in the correction period. Altcoin price could reverse if it turns resistance near $178 to support. The analyst underlines that we are in a downtrend in a certain time frame. But it conveys the importance of breaking the bearish trend. It points to the importance of crossing $176-178 for a breakout. According to the analyst, if we make this area the support level, we are likely to see $ 191.6. On the downside, $158.8 is subject to retest.
All three Ethereum competitors are on the analyst’s list
Van de Poppe said he is also targeting some Ethereum competitors. First, he mentioned Near Protocol. NEAR Protocol emerged as a community-driven cloud computing platform. It removes some of the limitations that clog competing blockchains, such as low speed and expensive transaction fees. On the other hand, Elrond (EGLD) is second among ETH competitors. Elrond aims to offer fast transactions using sharding.
Finally, drawing attention to Concordium (CCD), the analyst pointed to the growth of this enterprise blockchain. He says the network has opportunity for growth and goes beyond the target market. It is also worth noting that Concordium is a layer-1 network serving companies such as Volvo, IKEA, Credit Suisse. Initially, it offered services in the field of identity. The analyst used the following statements:
While Concordium first targeted businesses, it is currently trying to attract many projects and users in the industry, including DeFi (decentralized finance), gaming and metaverse.
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