Altcoin Daily founder and crypto trader Austin Arnold is naming six altcoins that he says are some of the best crypto investments of 2021.
In a new video, the trader tells his 413,000 YouTube subscribers that he’s bullish on the indexing protocol The Graph (GRT), which launched its mainnet this past December and is expanding its services to blockchains like Bitcoin and Polkadot.
“So we know that if Ethereum truly turns out to be the world’s global supercomputer, we need something like The Graph to help query all that information on the blockchain, and now it’s not just Ethereum.”
The second project Arnold is bullish on is Ren (REN), a protocol that enables the transfer of crypto assets between blockchains. The trader cites Santiment data that whales are currently accumulating more REN, which can be an indication that further price appreciation is on the horizon for the interoperability protocol.
Next up, Arnold recommends checking out the Manta Network, an upcoming privacy-focused decentralized exchange that will be built on Polkadot. Manta Network recently raised $1.1 million in a seed round led by the blockchain asset investment firm Polychain Capital.
The fourth project on Arnold’s list is the commission-free crypto broker Voyager Token (VGX). He cites Voyager’s announcement that it plans to expand its offerings with features like debit and credit cards, margin products, and a desktop application as a reason for his bullishness.
The trader is also bullish on the smart contract platform Elrond (EGLD), which just launched its highly anticipated Maiar wallet and payments app, which the company hopes will drive user growth and allow them to onboard the next wave of crypto users.
Last on Arnold’s list is yearn.finance (YFI), highlighting the project’s decision to mint $200 million worth of additional YFI tokens. The YFI community, those who own a chunk of the governance token, essentially decided as a whole to print themselves more money, says Arnold. Arnold speculates on what this decision means for the Yearn ecosystem and how it differentiates the project from Bitcoin, an asset it is often compared to.
Explains the analyst,
“My main takeaway on this is Yearn was compared to Bitcoin in the sense that like, ‘Wow, they both have such low circulating supplies, Bitcoin only 21 million, YFI only 30,000.’ Yet this just shows why Bitcoin is fundamentally different, how big it is, how decentralized it is, as opposed to something like Yearn – how much more experimental things like this are.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Chang Lee