Three Altcoins Have Massive Moonshot Potential This Month, Says Crypto Trader Austin Arnold

2021-02-09 08:00:00

Altcoin Daily host and crypto trader Austin Arnold is calling out three altcoins that he believes have the most potential to rally this month.

In a new YouTube video to his 423,000 subscribers, the crypto influencer takes note of Cardano’s (ADA) latest Goguen Mary update.

The update is currently deployed on Cardano’s public testnet to monitor its performance. Goguen Mary is expected to be rolled out on the mainnet by the end of the month.

“So this a big accomplishment, this is a big reason that the Cardano price is rising this month in anticipation for this and what this means to you is assets can now start to be built on the Cardano blockchain.”

Arnold also highlights the plans of IOG, the company behind the fourth-largest cryptocurrency, to onboard millions of people in Africa to the Cardano blockchain. Arnold cites a quote from John O’Connor, IOG’s director of African operations confirming Cardano’s progress in fueling adoption in the continent.

“Unfortunately, I can’t show as much as I like. What I can say is that we are at the final stages of a large government contract which would have multimillion users being onboarded onto the platform for a real-world blockchain implementation. This is a sort of 10x improvement in real-world terms what currently being done is in this area.”

Arnold is also looking at SnowSwap (SNOW), which is a decentralized exchange that generates yields for liquidity providers, and its recent integration of Chainlink’s (LINK) fast gas oracle.

“If this sounds a little too confusing, just know that SnowSwap is a new cryptocurrency. They are integrating with Chainlink for decentralized oracles. The last thing I’ll say about it is this: because SnowSwap has integrated the Chainlink fast oracle on mainnet, the integration allows stakers to deposit and withdraw using Chainlink’s decentralized fast gas price oracle as a reference to ensure they’re properly accounting for current Ethereum network fees when moving between yield generation strategies on SnowSwap. So that’s how they’re going to know they’re getting the most accurate, cheapest fees, by using many/a decentralized oracle network. Very very interesting.”

The last coin on Arnold’s list is Enjin Coin (ENJ), a crypto asset that backs the value created on the Enjin platform.

The crypto trader says that Enjin is teaming up with blockchain real estate firm Labs Group to tokenize real estate investments and allow property owners to issue non-fungible tokens (NFTs) for traders on Labs Security Exchange.

Arnold cites a quote from Enjin’s CEO Maxim Blagov:

“The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It’s only a matter of time before real estate is tokenized. Together with Labs, we can be among the first movers to disrupt one of the world’s oldest markets.”

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Featured Image: Shutterstock/Tithi Luadthong

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