As the entire crypto market continues to rise as Bitcoin hovers around $47,000, crypto analyst and influencer Elliot Wainman is shining a focus on a handful of altcoins he feels are poised to erupt in the coming weeks.
Wainman tells his 347,000 YouTube subscribers in a new strategy session that Ethereum (ETH) will likely continue to rally because it hasn’t gotten close to the prior high it attained before the May crisis.
Ethereum
Ethereum will experience a big supply shock, according to Wainman, as it moves closer to attaining a proof-of-stake consensus mechanism and continues to deploy its EIP-1559 update.
The Ethereum network is ablaze. The switch to proof of stake will amplify this, and it’s worth noting that EIP-1559 isn’t even supported by MetaMask, let alone all of the big DApps. We haven’t seen anything yet, even though this has been an incredible supply shock thus far.
Ethereum’s institutional investment product market share is quickly increasing… Ethereum is set for an institutional-powered rise, as we’ve been forecasting since the beginning of 2020, in which Ethereum will begin to threaten Bitcoin’s actual market cap.
The EIP-1159 upgrade, which went live on August 5th, adds a few-burning mechanism to the Ethereum network, which eliminates a fixed amount of ETH from the circulating supply each time a transaction is completed.
The proof-of-stake update, which is anticipated to go live in the coming months, will signify a movement away from mining and toward staking on the Ethereum network, which some analysts believe may result in a significant reduction in Ethereum’s yearly inflation rate.
Cardano
Cardano (ADA) is expected to continue to rise with the formal announcement of a September 12th launch date for complete smart contract capability on the Cardano blockchain, according to Wainman.
Sushi
Wainman then moves on to the decentralised finance (DeFi) protocol and the SushiSwap decentralised exchange platform (SUSHI). SushiSwap is establishing a non-fungible token (NFT) marketplace, according to the trader.
Terra ( LUNA)
Wainman then goes on to talk about Terra (LUNA), a stablecoin-focused lending and borrowing platform. Wainman believes that LUNA’s current run is far from done, and that a Coinbase listing for the commodity is imminent. Finally, Wainman mentions Quickswap (QUICK), a stock he’s been monitoring since August 7th.
The post appeared first on Coinpedia
