Analyst and crypto trader Austin Arnold selected six of the most explosive cryptocurrency assets to buy on Coinbase before the US-based crypto exchange went public.
In a new video it has released, the Altcoin Daily host says its sixth coin on its list is Chainlink (LINK), referring to the launch of a new substrate module that will bring the company’s oracles to the Polkadot (DOT) network.
“While dominating the Ethereum ecosystem, it is about to dominate the Polkadot ecosystem.”
The next coin on Arnold’s watch list is Cardano (ADA). The trader is excited about the fact that developers can write in multiple languages on Cardano, not just one language as in Ethereum.
“Cardano’s value proposition is quite clear. It aims to be a faster, cheaper, more scalable and less congested version of Ethereum. We understand this, but will the developers choose to build this on Cardano? Not many people are talking about it but in Cardano you will be able to write smart contracts in multiple languages within 6 months… Do you understand? Ethereum offers one scripting language, Cardano offers them all. ”
Fourth on the list is UMA (Universal Market Access). UMA is a protocol built on Ethereum that allows users to create custom collateral synthetic cryptocurrency tokens that can track almost anything.
“UMA wants to disrupt the derivatives market in a decentralized way. This is nothing more than automating and decentralizing what the traditional market already has. ”
Number three is the virtual real estate network Decentraland (MANA), which it thinks will be “bombshell” in this altcoin cycle. He adds that MANA is the only coin in the virtual real estate field ever found on Coinbase.
“Either way, Decentraland is poised to become a major player among the coins on Coinbase.”
Trader ranks second in the list of automated efficient farming protocol Yearn Finance (YFI). Arnold suggests that YFI is significantly underestimated, based on the total value locked in compared to priced action.
“Do people really find / use value in the protocol? The answer is yes! In fact, the total locked value by case type is even higher than what we saw at the end of 2020, at an all-time high. But as the locked-in value is rising, the value of the YFI token has not yet returned to an all-time high. ”
Arnold’s trick is Uniswap (UNI)! The analyst notes that the recent announcement of the UNI’s v3 update is a bullish factor that gives the UNI upside potential.
“Uniswap The Decentralized Exchange (DEX) will be much cheaper and much more efficient as an automated market maker. In fact, they say, with the release of UNI v3:> This will be the most efficient and flexible automatic market maker ever designed. However, this is something we do not do, and this is interesting. There will be 4000 times greater capital efficiency, so what does that mean? With something called Concentrated Liquidity, which is created by pooling the positions of liquidity providers (LP) into a single pool; It means that LPs can provide liquidity with up to 4000 times greater capital efficiency than we currently have. “