Cryptocurrency trader Aaron Arnold is revealing eight crypto choices that he believes have enormous growth potential in 2021.
In a new installation by Altcoin Daily, Arnold tells his 283,000 subscribers that Bitcoin (BTC) is his number one choice for the new year. It refers to an interview in which Daniel Schulman, CEO of PayPal, describes how Bitcoin is just starting out in terms of adoption by merchants.
“I think you will have more and more use with cryptocurrencies. One of the things we have enabled is not only making it easy to buy, sell and hold cryptocurrencies, but, very importantly, early next year, we will allow cryptocurrencies to be a source of financing for any transaction involving all 28 million of our merchants. “
Arnold’s second choice is Polkadot (DOT).
The cryptocurrency trader points out that the next-generation blockchain protocol enabling interoperability is the most popular network for staking. Token holders deposited $ 3 billion in funds to Polkadot validators for a chance to generate passive income. Additionally, Arnold notes that the Polkadot ecosystem continues to grow in the areas of decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and bridges for interoperability.
At number three is Ethereum (ETH). Arnold expects the leading smart contract platform to grow with the launch of ETH 2.0, which promises a new era of staking and scalability.
Landing at number four is decentralized finance darling yearn.finance (YFI). Arnold points to Yearn Improvement Proposal 54 (YIP-54) as a possible catalyst for YFI. The update implements quarterly audits to make YFI governance more transparent. It also allows for the creation of an operational fund that aims to repurchase YFI tokens and other assets.
To grab the fifth place is Cardano (ADA). The crypto influencer says the eighth largest cryptocurrency is preparing to roll out two major updates, one of which is the highly anticipated release of Yella.
“Yella is also known as IELE and is a virtual machine (VM), and can be used by developers to create DApps in any popular programming software and once completed, use Yella to convert and run it … Also, having support for Solidity, Ethereum’s native programming language, Yella will be the perfect component to convert DApps from Ethereum to Cardano … Previously, when the CEO of IOHK (Input Output Hong Kong) compared Ethereum’s virtual machine with Yella , said the latter would make the Ethereum virtual machine look like a toy. “”
Taking number six is XRP. Arnold points out that he is not personally invested in the third largest cryptocurrency, but says Ripple is pushing to make XRP Ledger a key component of the central bank’s digital currency movement.
“According to Ripple CEO Brad Garlinghouse, they want central banks to consider using the XRP Ledger to issue stablecoins … Ripple wants to take action.”
Its latest two coins are Synthetix (SNX) and Chainlink (LINK). Arnold points out that crypto platforms are collaborating to allow users to trade real-world assets such as oil in a decentralized way.
“SOIL is a synthetic asset that mirrors movements in oil prices using a decentralized Oracle chainlink network … Synthetix Exchange is available and can be traded for any Synth with infinite liquidity and zero slippage.”
Disclaimer: Opinions expressed in The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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