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Altcoin Daily shares their Top 3 Cryptocurrency Picks to Become Millionaire

In the recent video, the widely-followed crypto channel Altcoin Daily shares with their followers the best cryptocurrencies to invest in now amid the bearish crypto cycle to become millionaires.

“This opportunity will not last forever”, the crypto channel says.

Bitcoin (BTC)

Bitcoin (BTC) is inevitably the first cryptocurrency on the list.

While the coin is currently trading at dip levels for weeks, the analyst points out one of the famous Wyckoff Market Cycle rules, saying that the longer the accumulation bottom, the more explosive and powerful the breakout pump.

altcoin-daily-shares-the-top-3-cryptocurrency-picks-to-become-millionnaire

The trader also mentions the recent Bitcoin Taproot upgrade which achieved 90% critical consensus mark among mining nodes, meaning that everything is now set for Bitcoin soft fork activation later in November.

“It’s the first consensus change since Segwit activated in august 2017. It extends Bitcoin’s script capabilities in ways that make certain things cheaper, especially more complex applications like multisig and layer 2 things, and somewhat more private by often hiding what the exact spending rules were”.

In brief, the benefits of Taproot include the reduction in the amount of data to be transferred and stored on the blockchain, more transactions per block (higher TPS rate), lower transaction fees, and better privacy.

“In other words, bullish”.

Cardano (ADA)

Next on the list is Cardano (ADA). Its public testnet, Alonzo, has first smart contract successfully executed.

“The first smart contract has been executed on Alonzo, Cardano’s public testnet. Smart contracts on Alonzo will be completely functional by September, according to Cardano’s founder, Charles Hoskinson”.

The crypto channel further says that on the Ethereum blockchain, smart contracts had already begun. Alonzo Blue was the company’s first testing network, and it was followed by Alonzo White, Alonzo Purple, Alonzo Red, Alonzo Black, and eventually the Alonzo Mainnet.

Ethereum (ETH)

Last on the list is Etheruem (ETH). According to the trader, Etherum is the cryptocurrency that has the most compelling bull cases in the industry.

“Ethereum has been resilient, which has been a constant feature of its performance in the past year. Additionally, it has multiple growth catalysts, particularly its ETH 2.0 upgrade, which should play a major role in expanding decentralized finance”.

Ethereum 2.0, or ETH2, is a major upgrade to the Ethereum network, expected to be rolled out in full by 2022. It essentially marks the transition of the platform from a proof-of-work model to a proof-of-stake model. The primary goals of the update are to ensure that the network is more robust, more efficient, and more scalable.

Moreover, they also add that Ethereum is the most in-demand platform in the DeFi realm.

“Several Ethereum-based DeFi protocols, including Uniswap, MakerDAO, and others, have become incredibly popular”.

At the end of the video, Altcoin Daily concludes:

“Between Taproot for Bitcoin, EIP 1559 for Ethereum, smart contracts on ADA things are quite bullish for later part of the year”.

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