The global cryptocurrency market capitalization fell 0.12 percent to $2.06 trillion in the last 24 hours, while trading volume fell 27.12 percent to $61.66 billion on January 16.
Guy, the host of the Coin Bureau crypto channel, explains why, despite recent sell-offs, he remains bullish on five key crypto assets.
He informs his 1.87 million YouTube subscribers that the bull market isn’t done and that upcoming crypto milestones could be a spark for a big turnaround.
The sixth-largest blockchain by market cap, Solana (SOL), is still “technically in beta,” according to the Coin Bureau host, and a mainnet launch is in the works.
Solana’s mainnet, according to Guy, might go live “around March of this year.” A mainnet is a blockchain that is ready for use in the real world, as opposed to a testnet, which is a blockchain that is still in the testing or experimenting phase.
The second milestone that Solana plans to fulfil, according to the Coin Bureau host, is implementing on-chain governance.
Then there’s Litecoin (LTC). Guy claims that Litecoin’s impending MimbleWimble privacy-enhancing feature will make LTC the “most accessible cryptocurrency with privacy-preserving characteristics” in the world.
“This will likely create a lot of demand for LTC and lots of positive price action by extension.”
There’s also Dogecoin (DOGE). Two imminent Dogecoin milestones, according to Guy, might generate buzz and help the dog-themed crypto currency gain traction.
The two milestones are the launch of GigaWallet, a backend service aimed at making it easier for businesses to use Dogecoin for payments.
The availability of a software developer kit, which will allow developers to create new Dogecoin-related products, is another significant milestone.
“Even though it’s unlikely that these upgrades will have any direct effect on the price of DOGE in the short term, the hype alone will probably be enough to make prices pump.” he said.
Polygon, the most popular Ethereum (ETH) layer-2 scaling solution, comes next (MATIC). Polygon has invested resources to build further scaling solutions for Ethereum, according to the Coin Bureau host, and he cites two projects that could be positive for MATIC once they go live.
Polygon Miden and Polygon Zero are the two most likely to generate demand for the MATIC token. Polygon’s next scaling solutions are likely to be far more secure. And there’s a good chance that MATIC will moon once they go online.
Axis Infinity (AXS)
Next up is Axie Infinity, a play-to-earn game (AXS). Guy predicts that Axie Infinity’s Ethereum-linked sidechain, Ronin Network, will go public with its utility token RON in early February, boosting connected crypto assets.
He believes that this listing will benefit all play-to-earn crypto initiatives, as well as maybe NFTs [non-fungible tokens].