Analyst Tony Spark reviews the top 5 crypto altcoin picks of 2021
In a recent video, the crypto KOL Tony Spark reveals his top 5 cryptocurrency picks out of the top 20 altcoins and explains the reasons behind his bullish optimism on each coin.
“Cryptocurrencies have been moving up! It is rare for a top 20 cryptocurrency to surge as much as some of these have in the past couple of weeks. Doge is surging 500%, XRP nearly 400% and Binance BNB with a couple of hundred percent”.
Chainlink is the first altcoin on the list. The trader explains his bullish view on this coin due to its recent announcement of new features that aim to redefine the future of the ever-growing DeFi and NFT industries.
“Chainlink is enabling enterprise adoption of its blockchain network by allowing users to build smart contracts in accordance with regulations”.
Spark further says that the oracle networks go far beyond delivering highly validated data, they provide the various decentralized services that are combined with smart contracts to create real-world outcomes. These hybrid smart contracts are already redefining our industry as Defi.
Despite dropping out of the top ten, Chainlink price has managed to climb to a record high, reaching $44.15 at the time of the video. Behavioral analytics firm Santiment revealed data that shows that more retail investors are holding LINK, as the total amount of tokens held by whales dropped to 64.3% from 68.7% six months ago.
Next on the list is Theta. Theta is introducing mainnet 3.0 with TFUEL staking and burning.
“Theta’s mainnet 3.0 will feature fresh additions including Elite Edge nodes and TFUEL staking and burning. Mainnet 3.0 will introduce additional costs for using the Edge network. This fee will serve “as a balancing force against new TFUEL supply. At least 25% of this cost will be burned, leading to reduced supply overtime”.
In addition, Theta also plans to integrate the NFT marketplace with the incoming mainnet 3.0 launch. The marketplace will be cross-platform compatible to enable asset transfers and integration with other blockchains.
Litecoin is the next coin on Spark’s radar.
“Litecoin is now at 328 dollars, it has finally started moving upwards. It is still pretty low in my opinion around a 22 billion dollar market cap for being one of the OG cryptocurrencies next to Bitcoin and Ethereum. So this hasn’t broken its all-time high yet”.
The trader does think this has Litecoin has pretty high potential as it is one of the four cryptocurrencies on Paypal and potentially on every other major platform as well.
Not to mention, the Litecoin Foundation has completed the code for its MimbleWimble Extension Block (MWEB) which will enhance scaling and privacy for the cryptocurrency.
“Once finalized, the code will be incorporated into Litecoin’s main codebase. After this, it will be ready for node operators and miners to signal support for. It will be up to the community to decide how quickly MWEB will activate”.
Coming at fourth is EOS. The price recently hit its highest level since 2018 after protocol upgrades and big-name collaborations attract institutional investors.
EOS initially made headlines during the ICO craze of 2018 when its parent company Block.one raised a record $4 billion in funding to create the EOSIO software and in the past three months, the altcoin has nearly tripled in value.
“Momentum for the EOS token began to pick up in earnest in January as approached reaching consensus on integrating the new EOS PowerUp Model which is designed to improve resource allocation”, Spark says.
Moreover, according to the analyst, EOS got an added boost to price momentum on April 2 when Google Cloud posted an article discussing its collaboration with EOSIO and how it’s helping revolutionize the integration of distributed ledger technology with confidential cloud computing.
Cardano is the last coin on the list. Sparks holds optimism that Cardano will strive to become an Ethereum contender if the upcoming Alonzo update lives up to the expectations of being a game-changer.
“The Alonzo hard fork introduces a more complex coordination problem, as the surrounding ecosystem of service providers will need to prepare for the hard fork and the subsequent Cardano-based tokens and smart contracts altogether”, according to the crypto KOL.
Disclaimer: Opinions expressed at AZCoin News are not investment advice. Investors should do their due diligence before making any high-risk investments in cryptocurrencies. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. AZCoin News does not recommend the buying or selling of any cryptocurrencies.
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