After a sharp sell-off yesterday, the crypto market has revived as coins trade in green at the time of writing. Although BTC hasn’t moved up $60K, it has bounced back from $55,821 to $58656 today. Also, most altcoins are trading in the green today as they reclaim gains.
Aaron Arnold, a crypto trader and co-host of Altcoin Daily, has identified five crypto assets that he believes are poised to make significant gains.
CRO, the native token of digital asset marketplace Crypto.com, is the trader’s top option, he informs his 1.12 million YouTube viewers. Arnold believes CRO is poised for long-term success as the exchange begins a large global sports marketing push.
He notes that Staples Center In a $700 million deal, the venue was renamed Crypto.com Arena. The Los Angeles Lakers and Los Angeles Kings will also become official partners of the bitcoin exchange as part of the agreement.
” It is undeniable the reach that Crypto.com is gaining in America and around the world. It is crazy watching Crypto.com execute a $1 billion dollar sports marketing campaign.”
He goes on to say that The Paris Saint-Germain soccer team, the UFC, Formula One racing, the Philadelphia 76ers NBA basketball team, the Montreal Canadiens NHL hockey team, and the Italian soccer league Serie A are among the other famous partners.
“This is huge,” Arnold says as he wraps up his thoughts on Crypto.com.
CRO is presently trading at $0.55 a share, down 5% for the day.
Following that, Altcoin Daily looks at Injective Protocol (INJ), a decentralized exchange (DEX) protocol with complex capabilities like cross-chain margin trading, derivatives, and futures trading.
Noting the positives of the protocol he says, the mainnet of Injective Protocol has been launched. Injective is also launching a $120 million liquidity provisioning and trading incentive program to go along with it. People are being enticed to use their platform. The cash will be distributed based on the activity of market makers and traders who use the protocol.
Arnold also mentions that this is the Cosmos ecosystem’s largest incentive scheme.
“I’m bullish on Injective Protocol.”
INJ is currently trading at $11.50, up by 5.8% in the last 24 hours. Resistance on the upside is at $11.55. The support is at $10.51.
The analyst goes on to describe The Sandbox (SAND), an Ethereum-based virtual environment whose forthcoming launch he believes will be a really huge deal.
He mentions that after four years of work, the Sandbox Metaverse Alpha will be released on November 29th. The Sandbox, a virtual property and gaming company owned by Animoca Brands, is launching a multi-week play-to-earn [P2E] Alpha event that will open up a portion of its metaverse to players for the first time.
Also, they’re launching the Alpha, then the Beta, and then the full-fledged launch in the near future. This project has taken four years to complete. This is a significant event, he mentions.
At the time of writing, the price of SAND has risen by over 22% to $4.30.
Finally, the YouTube host speaks about Chainlink, a smart contract network and decentralized pricing feed service (LINK). Despite the recent price drop, he believes the enterprise is still capable of “exponential growth.”
Chainlink, in his perspective, is not going away very soon, especially when considering the ecology. In the third quarter of 2021, it has set a new milestone for ecosystem momentum. Chainlink is at the top of the list when it comes to momentum ecosystem expansion.
Chainlink Oracles have a total value secured (TVS) of $76 billion. According to Forbes, “If Ethereum leads the blockchain race, It is in pole position among Oracle’s various criteria.” Total value secured is at an all-time high.
Price is rising up over a long enough time frame, but several internal measures are also trending up. For these reasons, It is synonymous with exponential development, and he believes it is currently undervalued, he adds.
At the time of writing, LINK is trading at $28.75 up by 6.2% in the last 24 hours.