Altcoin Daily analyst and host Austin Arnold offers top crypto picks as the market tries to shake off a slow start to the year.
In one Video Frisch says the trader remains interested in Bitcoin as an asset despite the catastrophic sell-off since hitting an all-time high of over $ 69,000 in November.
“People buy dips from every exchange. Bitcoin is leaving the exchanges. Miners don’t sell and persist. “
At the time of writing, Bitcoin is down 3.8% in the past 24 hours to $ 42,144.
BTC / USDT. Source: Tradingview
Next on Arnold’s list is the leading smart contract platform Ethereum.
“The ETH has had a supply shock. The value of the deposit contract with Ethereum 2.0 exceeds the 30 billion dollar mark. After the owners have included ETH in the deposit agreement, they cannot withdraw until the blockchain has been fully converted. “
ETH is down 3.88% on the day and is trading at $ 3,224 at press time.
ETH / USDT. Source: Tradingview
The host also mentioned the Uniswap (UNI) decentralized financial protocol. This protocol was recently implemented on the Layer 2 scaling solution Polygon (MATIC).
“The year 2022 could be the year of shift 2.”
UNI is currently valued at $ 15.39 while MATIC is priced at $ 2.23.
Another Layer 2 that Austin Arnold is interested in is Immutable X (IMX) – a scaling solution for NFT that enables near-instant transaction processing with no gas fees.
This altcoin is down 1.52% over the day and costs $ 3.54.
IMX / USDT. Source: Tradingview
Next on Arnold’s list is the open source platform Tezos (XTZ), which recently strengthened the company’s partnerships. The latest milestone is the release of the Tezos platform-based NFT collections from clothing giant The Gap.
“Tezos is definitely an altcoin that does great things.”
XTZ also fell slightly today to $ 4.16.
XTZ / USDT. Source: Tradingview
Looking at the field of the Internet of Things, the moderator of Altcoin Daily emphasized that the open source blockchain Helium Network (HNT) recently passed the milestone of 450,000 hotspots.
“This is a project that is supported by high quality venture capital.”
This altcoin is currently priced at $ 31.6, down 4% from the day.
HNT / USDT. Source: Tradingview
The scalable blockchain platform Elrond (EGLD) of the enterprise class is also included in the list of cryptocurrencies to be considered after the Web3 payment service provider UTRUST (UTK) was acquired and EGLD was integrated as a means of payment.
“Big win for EGLD”.
EGLD continues its broad downtrend on the daily chart and is down 5.99% to $ 196.2.
EGLD / USDT. Source: Tradingview
Finally, the decentralized exchange platform dYdX (DYDX). Austin aims to be fully decentralized by the end of the year.
Currently, dYdX is up 2.81% and is trading at $ 7.95.
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