Altcoin Daily host Aaron Arnold explained why he believes Bitcoin and Ethereum will rise and three other currencies he believes have bullish potential.
Arnold, who has 900,000 YouTube subscribers, says that while Ethereum, DeFi, and NFTs are gaining a lot of interest in the crypto space, the on-chain Bitcoin data is still giving bullish signals and is seriously in short supply.
Arnold says Ethereum is also in short supply with the activation of the EIP-1559 update, which overhauls the cryptocurrency fee mechanism:
Arnold also says that a high-quality DeFi project, the Aave lending protocol, is likely to do well as it prepares to expand its reach into Solana (SOL) and Avalanche (AVAX) networks.
The analyst is also looking into the scalable blockchain network Elrond (EGLD), which became the first carbon-negative blockchain in Europe. Elrond strives to ensure that every transaction made on the EGLD blockchain has a positive environmental impact.
Finally, Arnold took a look at Ecomi (OMI), a token used on the VeVe NFT platform. Arnold says VeVe is preparing to release Marvel NFTs from Spider-Man and Wolverine. Arnold says additional Marvel NFTs will be introduced later in August.
Lifelong foodaholic. Professional twitter expert. Organizer. Award-winning internet geek. Coffee advocate.