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Crypto analyst channel Altcoin Daily has pinpointed eight tokens that they insist crypto enthusiasts should include in their portfolios, emphasizing that this may be their final opportunity to acquire them.
The analyst behind the channel first argued that Bitcoin’s trajectory to $100k has been programmed, citing insights from renowned Bitcoin whale Michael Saylor.
The premise hinges on the notion that as capital pours into BTC, surging it to $100k, altcoins stand to capitalize on this rally.
In parallel, he highlighted the eight coins set to benefit from Bitcoin’s impact this year.
8 CRYPTO COINS MAKING BIG NEWS! 🚀$ETH $TET $TOMI $AIT $LINK $HEX
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>> https://t.co/AM1cR5JVT8 pic.twitter.com/sLyYT8zEzz— Altcoin Daily (@AltcoinDailyio) February 14, 2024
Easy to Ignore Ethereum (ETH)
Altcoin Daily highlighted people’s tendency to overlook Ethereum due to its high price. However, he contended that, akin to Bitcoin, ETH can potentially fortify a cryptocurrency portfolio significantly.
The analyst pinpointed specific bullish factors for ETH, such as a remarkable drop in its supply on exchanges. This trend indicates that ETH might face reduced selling pressure as investors transfer ETH tokens from liquid platforms to private custody.
Furthermore, Altcoin Daily highlighted how BTC’s price surged in the final quarter of 2023 primarily due to speculation surrounding the approval of BTC ETFs. He anticipates a comparable situation unfolding for Ethereum.
Specifically, he noted that trillion-dollar asset managers like BlackRock, Fidelity, and Grayscale have all submitted applications for spot Ethereum ETFs.
Overall, the analyst emphasized that ETH is becoming scarcer than ever with ETFs, forecasting that the asset could reach new all-time highs soon.
Solana (SOL), the Crown Jewel of this Cycle?
Altcoin Daily’s second top pick was Solana (SOL). He contended that influential entities position Solana as one of this cycle’s crown jewels.
He concurs with this assessment and underscored that the asset brings substantial value to the crypto ecosystem, boasting favorable metrics.
Interestingly, he referenced an opinion proposing that Solana’s recent network downturn was a bullish indicator rather than a negative one.
The analyst also cited another perspective suggesting that $115 represents the last major resistance for SOL to overcome, and once breached, new highs are expected.
SOL trades at $113 at press time with 18% gains over the past week.
Cardano (ADA) and Polkadot (DOT)
Thirdly, the crypto YouTuber favored Cardano (ADA), asserting that it operates with a unique approach. He noted that ADA merits inclusion in the list due to its noteworthy characteristics.
Meanwhile, he pointed out Cardano utilizes Polkadot’s SDK and those of other chains, such as Cosmos. He highlighted that Cardano is making its presence felt across various aspects of the crypto market.
In parallel, Polkadot secured the fourth spot on Altcoin Daily’s top picks list, with the analyst noting a significant catalyst on the horizon.
Specifically, he highlighted the impending launch of Polkadot 2.0 in approximately two months, coinciding with the Bitcoin halving.
A notable change is the introduction of a flexible block space selling mechanism with revenue being burnt. This adjustment addresses concerns regarding Polkadot’s inflationary tendencies in 2021.
Chainlink (LINK)
Another prominent project the analyst picked was Chainlink (LINK), noting that it possesses numerous strengths and advantages.
One key aspect of Chainlink’s value proposition is its focus on providing services and a platform for scaling the tokenization of real-world assets.
3 Other Projects with Potential
Also, Altcoin Daily selected the growing crypto project Tectum (TET) as one of its picks. Tectum is an L1 smart contract blockchain that offers instant transactions at nearly zero cost.
The analyst highlighted that Tectum conducted a highly successful transaction per second-record test run. In just 4.62 seconds, Tectum reportedly processed six million transactions.
Other highlighted projects include Tomi, a privacy-based crypto project, and AIT Protocol, an AI data infrastructure provider. However, the analyst disclosed that he is an ambassador for these three projects.