Crypto analyst and influencer Elliot Wainman points to a handful of altcoin projects he believes are poised to paddle in the coming weeks as the entire crypto market continues to recover and Bitcoin floats in the $46,000 range. Let’s take a look at Elliot Wainman’s predictions together…
Elliot Wainman: ETH prepares for a rally to overtake Bitcoin
In his new analysis, veteran analyst Elliot Wainman told 347,000 YouTube subscribers that Ethereum (ETH) will likely continue to rise as it is nowhere near the previous peak it reached before the May crash.
Elliot Wainman points out that Ethereum will experience a major supply shock as it gets closer to acquiring a PoS mechanism and continues to implement the EIP-1559 upgrade. Elliot Wainman comments on the subject:
ETH is literally on fire. The move to Proof of Stake will make this even more dramatic and it is important to understand that EIP-1559 is not yet supported by MetaMask, while large DApps (decentralized applications) are not yet supported. While this has been an incredible supply shock so far, we haven’t seen anything yet… Ethereum market shares for institutional investment products are skyrocketing… As we have been saying since the beginning of 2020, Ethereum is an institutional-backed, where Ethereum will begin to challenge the true market value of Bitcoin. preparing for the rally.
Elliot Wainman: Among the altcoin projects that will paddle in ADA!
As we previously reported , the EIP-1159 update, launched on August 5, brings to the Ethereum network a fee burn mechanism that permanently removes a certain amount of ETH from the circulating supply each time a transaction is processed. The PoS upgrade, which is expected to be released in the coming months, will mark the transition from mining to staking on the network, if some analystsdollarserine said that it could significantly reduce the annual inflation rate of Ethereum.
Elliot Wainman also expects Cardano (ADA) to continue building on the official announcement of the September 12 launch date for full smart contract functionality on Blockchain. Elliot Wainman comments on the subject:
Charles Hoskinson dropped the bomb that they actually have a fixed date for the activation of smart contracts in Cardano… Now people will start using ADA to access the wild universe that exists on top of Cardano.
Elliot Wainman: You should check out these altcoin projects too!
The analyst adds that investors should also keep an eye out for assets running on Cardano that he says will likely perform well as smart contracts take off. Elliot Wainman discusses decentralized finance (DeFi) protocol and decentralized exchange platform SushiSwap (SUSHI). The analyst states that SushiSwap has launched an unchangeable token (NFT) market. Elliot Wainman continues to feature Terra (LUNA), a stablecoin-focused borrowing and lending platform.
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