A preferred crypto analyst is naming his high altcoin picks because the crypto markets head into a brand new yr.
In a brand new interview with Altcoin Daily, Into the Cryptoverse founder Benjamin Cowen tells the channel’s 1.8 million YouTube subscribers that layer-1 blockchain tasks are his main focus of curiosity.
First and foremost is main good contract platform Ethereum (ETH).
“Obviously there’s Ethereum, however that’s form of the ‘altcoin index.’
You need your altcoins to outperform Ethereum or no less than oscillate in opposition to it. Look at their ETH values over the macro scale.
MATIC I believe is an effective venture, layer-2 scaling I believe is necessary.
But additionally Cardano, Polkadot, Avalanche.”
The multi-chained scaling answer Polygon (MATIC) has gone on an epic run in 2021, rising from $0.03 to a brand new all-time excessive of $2.88 final Saturday. MATIC has since corrected and presently trades for $2.49.
Also excessive on Cowen’s checklist is scalable decentralized blockchain platform Cardano, whose native token ADA ranks sixth by market cap. The altcoin has seen a curler coaster of price motion, launching from $0.18 to a summer time excessive of $2.91. Currently, ADA is valued at $1.33.
Cross-chain interoperability protocol Polkadot (DOT) ran from a January low underneath $10 to highs above $47 in May and $54 in November, however has since corrected closely and DOT now trades for $26.56.
Last on Cowen’s checklist of favorites is layer-1 good contract platform Avalanche (AVAX). The AVAX token began 2021 buying and selling for round $3.50 however has gone on a sequence of epic rallies, in the end grinding up to an all-time excessive of $144.96 in late November. The Eleventh-ranked crypto asset is exchanging palms for $101.04.
Moving on to his honorable mentions, the favored chart guru likes good contract platform Solana (SOL), which began the yr underneath $2 and soared to practically $260 again in November. The altcoin is valued $170.84 at time of writing.
“Solana, I believe it’s first rate, it’s a bit extra centralized than I would love.
But it doesn’t imply that’s essentially a nasty factor for some individuals, as a result of some individuals simply want that.”
Cowen stays fascinated by oracle community Chainlink (LINK) regardless of native token LINK’s disappointing numbers in relation to ETH.
“Chainlink is an attention-grabbing one as a result of it’s one which did very well within the bear market.
I maintain it and it’s not met my expectations this market cycle.
I’m wanting for that one to do one thing good in 2022 as a result of frankly, it’s down 90% in opposition to Ethereum over the past 18 months.”
Chainlink began the yr underneath $12 and reached an all-time excessive of $52.70 again in May, earlier than crashing to $20.10 and in the end $13.88 by July, earlier than grinding its manner again up in latest months.
LINK has had a rocky previous month, reaching a excessive of $26.81 earlier than crashing to $17.61 and then climbing again above $24 briefly. Chainlink is buying and selling for $19.62 at time of writing.
In distinction, Ethereum has seen a breakout yr, rising over 400% from $730 to its present valuation of $3,647.
Last on the checklist of runner-ups is Ethereum competitor Terra (LUNA) whose native token LUNA underpins a collection of decentralized stablecoins. LUNA started the yr at $0.64 and has witnessed main good points. Currently, it’s buying and selling for $83.41.
Cowen wraps up by saying,
“The important tasks that I observe are Cardano, Polkadot, Avalanche, MATIC, LUNA, Solana.
It’s actually exhausting to go fallacious when you simply take a look at the highest 10 or 20. Get layer-1s, a few layer-2s, an oracle.
I believe that’s an incredible crypto portfolio proper there.”
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