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Cryptocurrency market made a strong start to September. The overall crypto market cap rallied as high as $2.26 trillion with a rally in the Bitcoin (BTC) and altcoin space. Analyst Bhushan Akolkar is promoting cryptocurrencies this month that he thinks have the potential to outperform, Cryptocoin. com, we share it with you.

1. Bitcoin (BTC)

According to the analyst, BTC is facing strong resistance at the $50,000 levels, which retests these levels for the second time in just 10 days. Recently, the Coinbase crypto exchange has recorded huge outflows. Bitcoin balance on Coinbase is now at its lowest level in four years. Glassnode’s post on Twitter is as follows:

After a period of moderate BTC inflows following the May Sale, Coinbase has seen a massive crypto outflow. This brings the total balance to just over 700k BTC. The last time the Bitcoin balance was at this level was December 2017, Coinbase said.

https://twitter. com/glassnode/status/1432969353322852352

Also, Bitcoin address activity has seen a strong increase in the market. According to Santiment reports, there are 1,000,000 addresses interacting on the Bitcoin Blockchain for the first time in the past two months. Therefore, according to Analyst Bhushan Akolkar, Bitcoin remains the best option for the majority of investors.

2. Cardano (ADA) second in the altcoin league

Cardano reached its ATH of $3 on Thursday, September 2nd. Cardano has had a steady bull run this year. Cardano Blockchain will go through the Alonzo Hard Fork upgrade next week. This will bring the much anticipated smart contract functionality to the network. According to Analisdollarser, this enthusiasm could raise the ADA price even higher.

3. Strong rallying altcoin Polkadot (DOT)

Polkadot has also recently been in a strong rally above $30. The last price rally took place just before the second round of parachain auctions. Canary network Kusama recorded a similar rally recently. Parachains are the main USPs of Polkadot Blockchain as they allow for user customizations based on use cases while being fed from the main Blockchain later on. In addition, DeFi lending platform CREAM Finance recently announced that they will integrate with the Polkadot Blockchain network through Moonbeam.

This will enable CREAM Finance to bring its series of lending and borrowing services to Moonbeam, a smart contract platform on Polkadot Blockchain. Thus, Polkadot and Kusama users will be able to access CREAM’s services and join the crypto lending ecosystem. Analisdollarser certainly sees this as a promising project to watch this month.

4. Ethereum killer altcoin Solana (SOL)

Solana (SOL) is up another 24% on the day to trade at its ATH of $145. At the time of writing, it was at the level of 142 dollars. With this, Solana became the new largest cryptocurrency by market cap, which knocked out Dogecoin. Called the Ethereum killer, Solana has a Proof of Stake (PoS) consensus model that offers high scalability. The platform has gained immense popularity recently.

According to data from DeFi Llama, the total value of kilidollarsi (TVL) in Solana has reached $4 billion. The creators of Solana Blockchain claim that their system is the fastest in the world. Also, the native stablecoin UXD has recently raised a massive $3 million.

5. Polygon (MATIC) with strong development activity

Amid strong development activity, the Polygon Blockchain network has been in the news throughout 2021. The Polygon protocol serves as a Layer-2 solution that provides a framework for building and connecting multiple Ethereum compatible Blockchain networks on Ethereum.

The most important news is that the world’s largest publicly traded Coinbase exchange has integrated Polygon into its platform. Coinbase will integrate Polygon into the Coinbase Wallet App as well as the Coinbase Wallet Extension. The latest Polygon integration will also help Coinbase users gain easy access to DeFi and NFTs. Polygon’s native cryptocurrency MATIC was trading around $1.47 at the time of writing. The MATIC price has increased 150 times since the beginning of 2021.

6. Altcoin Arbitrum (ARB) making solid moves in the DeFi space

Another Etheruem scaling solution that has made solid moves in the DeFi space, the Arbitrum network has exceeded $20 million in total in a very short time. With its recent public release, tons of money is flowing into Arbitrum.

As a result, Arbitrum (ARB) recorded a hockey stick growth with the ARB price skyrocketing 300 percent last week. Arbitrum is a product of Offchain Labs, created using optimistic aggregation technology to bring scalability to the Ethereum Blockchain network.

7. VeChain (VET)

The Thor mainnet on the VeChain Blockchain has reached an important milestone of 10 million blocks without any major disruption. The following announcement was made by the VeChain Foundation on Twitter:

Today, the VeChainThor mainnet has just reached 10,000,000 blocks without interruption. This is an important milestone that is proof of the scalability, security, and rock-solid stability of our public blockchain.

https://twitter. com/vechainofficial/status/1433104365137522697

VeChain is seeing consistent institutional use by some of the trading giants like Walmart. In June 2020 last year, Vechain partnered with a Walmart subsidiary in China. It also enjoys strong government acceptance from countries like China and San Marino. VeChain has some important infrastructure updates on its roadmap. This includes the introduction of Proof-of-Authority (PoF) 2.0 along with more partnerships, use cases, community DApps and much more.

8. Latest altcoin Ripple (XRP)

According to analyst Bhushan Akolkar, Ripple’s XRP continues its bull run despite being late in the game. The XRP price is up 15 percent from last week and is currently trading at $1.30.


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Michael Lewis

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