Here are the top 6 most explosive altcoins on Coinbase, according to analyst Austin Arnold
In the recent video, analyst Austin Arnold from Altcoin Daily reveals the top 6 most explosive altcoins on the Coinbase exchange as it is approaching the listing on Nasdaq in 2 weeks’ time.
Coinbase listing date has been declared and most likely is going to be April 14. Coinbase Global, Inc., has announced that its registration statement on Form S-1, as filed with the Securities and Exchange Commission (SEC), relating to a proposed public direct listing of its Class A common stock was declared effective by the SEC on April 1, 2021. Coinbase anticipates that its Class A common stock will begin trading on the Nasdaq Global Select Market under the ticker symbol COIN on April 14, 2021.
The first altcoin on the list is Chainlink (LINK), a platform that aims to bridge the gap between blockchain technology-based smart contracts (made widespread by Ethereum), and real-world applications.
The project announced recently that it will release its Chainlink Price Feeds as a module for the Substrate blockchain framework.
“In essence, this means that projects building on Polkadot or Kusama parachains can integrate Chainlink oracles in a simplified way”, the trader says.
“I can see the integrations to the Chainlink ecosystems get a whole lot bigger as this year progresses”.
Cardano (ADA) is the next potential altcoin that recently being added on Coinbase.
Cardano team is working to enable developers to use 6 programming languages to write smart contracts on their network within 6 months. Meanwhile, its direct rival, Ethereum, only allows developers to build with its Solidity programming language.
The Universal Market Access (UMA) cryptocurrency is also on Arnold’s radar. This is s a protocol for the creation of synthetic assets based on the Ethereum (ETH) blockchain.
UMA allows counterparties to digitize and automate any real-world financial derivatives, such as futures, contracts for differences (CFDs) or total return swaps. It also enables the creation of self-fulfilling derivative contracts based on digital assets, like other cryptocurrencies.
“It’s automating and decentralizing something the traditional market already has. Only now, there will be no gate-keeping. Think about this as very similar to Synthetix”, Arnold explains.
Coming at the fourth is Decentraland (MANA).
Decentraland has become a hotbed for NFT art because it allows artists to set up their own virtual art galleries where people can browse, buy, and even talk directly with the artist in-game via voice chat.
“Decentraland’s direction is driven by its community, though it has yet to hammer out the details related to its governance process, and has also not cracked open the massive community treasury”.
Yearn Finance (YFI)
Yearn Finance (YFI), a DeFi token with the most explosive potential, is also listed. Yearn.finance is an aggregator service for decentralized finance investors, using automation to allow them to maximize profits from yield farming.
“To answer the question ‘are people actually using or finding value in the protocol,’ – the answer is yes. Actually, the value locked in Yearn by vault type is at an all-time high, even higher than what we saw at the end of 2020. However, the value of the YFI token hasn’t yet returned to all-time highs yet”, the crypto KOL says.
In addition, Yearn Finance has continued to partner with other players in the ecosystem to further increase the yields for their users.
The last altcoin on the list is Uniswap (UNI). According to the analyst, the coin will has 4000x more capital efficiency with the upgrade of Uni v3.
“Uniswap v3 provides the only possible “solution” to impermanent loss and price impact It also lets you reduce total price risk while increasing your impermanent loss (relative to v2) with concentrated liquidity”, Arnold says.
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