Popular trader and analyst Elliot Wainman names two altcoin projects, which he says has a chance to be among the top 10 cryptocurrencies by market cap.
Elliot Wainman addresses the explosion of new transactions on the Polygon (MATIC) platform
In a new video, Elliot Wainman discusses the explosion of new transactions on the Polygon (MATIC) platform. MATIC is an Ethereum token that powers the Polygon network, a multi-chain scaling protocol that enables faster, cheaper transactions on the Ethereum network. Polygon’s explosion resembles the meteoric rise of Binance Smart Chain (BSC), according to Elliot Wainman. Elliot Wainman adds the following to his comments on the subject:
This is exactly the same growth pattern I saw. While I don’t believe Polygon will reach the size of a Binance or a BNB, I believe there is a narrative here that it should approach the real valuation we see for some smart contract blockchains. There isn’t even live functionality yet.
Elliot Wainman: The other altcoin I believe could make the top 10 is Solana!
The other altcoin that the analyst believes could be in the top 10 is Solana (SOL). Elliot Wainman points out that Solana provides more value than Cardano or Polkadot, but has a significantly smaller market value and the SOL may be ready to rise. Elliot Wainman adds the following to his comments on the subject:
It looks like this thing is still ready to tear. It feels like there’s still a huge parabolic movement in front of him. The reason I say this to Solana by looking at $ 12 billion… Solana is arguably the most convenient alternative to Ethereum, apart from Binance Smart Chain, and therefore has a market value of $ 12 billion. Now looking at 16th place, here we see that Cardano is doing more than it is today and perhaps should be just as valuable as those projects.
Elliot Wainman: Solana and Polygon are finally noticed here with their actions
Elliot Wainman believes crypto users are finally awakening to the positive potential of Solana and Polygon as viable Ethereum competitors and finding a solid user experience on these platforms. Elliot Wainman adds the following to his comments on the subject:
But there is a huge opportunity in things like Solana, Polygon, Binance Smart Chain, and of course things like Polkadot and Cardano when they launch. But I believe this is what is happening now. Solana and Polygon are finally noticed here by what they actually do, offering a ton of functionality.