en

Three Altcoins With Life-Changing Potential Are Blazing Toward Mass Adoption, Says Trader Austin Arnold


dailyhodl.com May 02 2021 17:47, UTC
Reading time: ~3 m

Crypto influencer and trader Austin Arnold is uncovering a list of three altcoins that have life-changing potential as they march toward mass adoption.

In a new video, Arnold first spotlights Ethereum competitor Cardano (ADA), which has just locked in impressive partnerships in Ethiopia and Tanzania.

Arnold notes that in Ethiopia the team behind Cardano, Input Output Hong Kong (IOHK) plans to bring its decentralized identity solution Atala PRISM to 3,500 schools in the country, helping smooth out the identification process for five million students.

In Tanzania, Cardano is also partnering with World Mobile Group to give 100,000 people living in rural areas digital access to mobile internet, digital identity, and financial solutions.

Arnold is impressed with the team’s broad-reaching plans, adding that as the Cardano network expands across the globe, the closer it gets to reaching mass adoption.

Next on the analyst’s list is rebase token Benchmark Protocol (MARK). A rebase token is meant to be an uncorrelated asset with an elastic supply. The MARK token will likely remain at the same price over time, but the quantity of tokens in circulation is constantly fluctuating. Arnold highlights that MARK is an asset that offers stability in periods of high volatility as it functions as an elastic hedging device.

“Benchmark is saying if the world goes to crap, we’re going to need liquidity. And we’re going to need liquidity from something that is truly uncorrelated… The DeFi (decentralized finance) space needs a collateral utility that retains its efficacy and increases inherent baseline liquidity during periods of high volatility.”

Benchmark is officially rolling out its peer-to-peer marketplace on Ethereum and Binance shortly, whitelisting popular assets such as PancakeSwap (CAKE) and Chainlink (LINK). Additionally, Benchmark offers the opportunity for holders to yield form on its The Press platform where users can earn 200% or 300% annual percentage yield (APY).

Benchmark is the lowest market cap asset Arnold mentions, sitting just above a $40 million valuation at time of writing.

The last altcoin that Arnold believes could change lives is Chainlink (LINK), as it locks in a partnership with the UNICEF Innovation Fund to support blockchain applications in emerging markets.

The Chainlink team announced the partnership and details of the initiative in a recent blog post.

“As part of furthering this initiative, we’re excited to award a grant to support the UNICEF Innovation Fund, a pooled fund designed to finance startups building early stage, open-source technology that addresses key global challenges; and the UNICEF CryptoFund, a new financial vehicle allowing UNICEF to receive, hold, and disburse cryptocurrency.”

Chainlink is up 7% at time of writing, breaking above $40 for the first time in the past week.



   Source

Crypto News is the news aggregator about cryptocurrency, ICO, mining and blockchain.