According to Altcoin Daily, Bitcoin, Ethereum and some altcoins (Aave, ETH, EGLD and OMI) will have great potential as the crypto markets heat up. Cryptocoin. com
As reports, Altcoin Daily host Aaron Arnold shares why Bitcoin and Ethereum are on the rise as we enter the rest of the year, and also highlights the potential of some altcoins.
Bitcoin and altcoins: Aave, ETH, EGLD and OMI
Arnold told over 900,000 YouTube subscribers that Ethereum is getting a lot of attention in the crypto space with decentralized finance (DeFi) and immutable tokens (NFTs), Bitcoin is still giving on-chain bullish signals and a huge supply. He says he is having trouble.
Bitcoin user network growth has reached an all-time high on a seven-day average. This growth is the fastest in Bitcoin history… On top of that, there is an intense accumulation going on – this is similar to the re-accumulation shown by the ‘Liquid Supply Shock Ratio’ which gave some vibrations in mid-2017, although the current recovery has been much faster so far. So this is Bitcoin held by strong hands and it continues to rise, my friends.
Expert analyst Arnold says that Ethereum is also experiencing a supply shortage with the introduction of the EIP-1559 update, which overhauls the cryptocurrency’s fee mechanism.
[EIP-1559] basically changes Ethereum’s monetary policy for the better and basically for every transaction that takes place… A little bit of Ethereum will burn and this causes less supply especially as demand increases… 10. 55 Ethereum is destroyed, destroyed every 60 seconds… This This is already happening during a supply crisis with Ethereum. Dosdollarsım, Ethereum padollars.
Arnold also says that the DeFi blue chip and Aave lending protocol will likely perform well as Aave’s team prepares to expand Aave’s reach to Solana (SOL) and Avalanche (AVAX) networks. Further, the analyst is looking at scalable blockchain network Elrond (EGLD), which he says has become the first carbon-negative European Blockchain. Elrond strives to ensure that every transaction performed on the EGLD Blockchain has a positive impact on the environment.
Finally, Arnold takes a look at Ecomi (OMI), the token used on the VeVe NFT platform. Arnold says that VeVe is set to launch Marvel NFTs of Spider-Man and Wolverine. Arnold says additional Marvel NFTs will be introduced later in August.