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Cryptocurrency trader Ben Armstrong says he believes five cheap altcoins could turn some crypto investors into millionaires.
In a new video, the trader kicks off his list with the blockchain-based point-of-sale platform Pundi X (NPXS).
While noting it is yet to return to its all-time high from mid-2018, Armstrong argues that recent developments will propel the altcoin’s price higher.
“NPXS has recently announced staking and a token burn to reduce their supply. For a coin with 236 billion tokens, that should help carry this project through a massive altcoin season.”
Next on the crypto influencer’s list is the native token of distributed applications hosting platform Holochain (HOT). Armstrong says that Holochain’s mission to push technology beyond blockchain is its biggest selling point.
“[Holochain] is one of the few projects that have dared to think beyond blockchain. While blockchain is still an emerging technology, there have certainly been some problems within it. Holochain takes the idea of blockchain and expands upon it, making Holochain faster and more decentralized than anything blockchain itself has to offer.”
While naming peer-to-peer file-sharing platform BitTorrent (BTT) to his list, Armstrong says the altcoin’s growing popularity on TikTok is likely to push the price upwards despite having been relatively obscure previously.
“[BitTorrent] launched with fireworks, only to later out sizzle into obscurity. But a recent price surge has brought new life to BitTorrent. But is there more to this than at first glance? Well, the rumor is that TikTok is now pumping BitTorrent similarly to what we saw with Dogecoin recently.
One thing is for sure, the TikTok crowd loves cheap coins, and BitTorrent is a natural fit.”
The native token of scalable blockchain Harmony (ONE) is Armstrong’s next altcoin. The trader argues that Harmony’s fundamentals are its biggest driving force.
“Harmony is a good project and is in a pretty good niche, especially for the moment. It seeks to solve Ethereum’s scaling issues in the near term well before ETH 2.0 rolls out with sharding. Harmony is a sharding protocol that comes along with a trustless Ethereum bridge.
So while Harmony has pumped hard, there could still be more to go.”
Armstrong finishes his list by naming VeChain (VET) saying it is an altcoin that he believes “you cannot go wrong with” as it’s a leader in supply chain tracking.
“There’s no stronger project in the supply chain tracking space… the fact is VeChain is a solution to a huge problem in the world, has strong fundamentals and strong technicals, and it’s still under a dime.
I’ve been saying 10% of gold since 1983. And now I say 5% of gold, 5% Bitcoin.”
Featured Image: Shutterstock/Guliveris