Although tiny sell-offs had temporarily stalled the altcoin market’s resurgence, it was now on the mend. As Bitcoin and Ethereum continue to skim make-or-break support levels, the market is looking for a direction.
Due to a drop in the US dollar, cryptocurrency prices have recovered today. Over the following several days, the dollar’s depreciation is anticipated to boost cryptocurrency prices.
Dogecoin, Chainlink, and three cryptocurrencies, according to popular crypto trader Aaron Arnold, are preparing for big moves powered by excellent fundamental developments.
Decentraland – MANA
This week, Decentraland will stage one of Ethereum’s first music festivals, according to Arnold. Decentraland offers to provide hundreds of exclusive non-fungible tokens (NFTs) to attendees of the live music festival, in addition to a plethora of music.
So Decentraland is a pioneer in blockchain-based virtual worlds and games, and they’re hosting a music festival that a lot of Ethereum enthusiasts are excited about.”
Dogecoin – DOGE
Next on Arnold’s list is Dogecoin (DOGE), a popular parody cryptocurrency that, according to CoinGecko, has grown by over 10,000 percent in a year.
Arnold notices a promotional event for Million Doge Disco, a DOGE-powered mobile game. Users are encouraged to record themselves dancing with an animated Shiba Inu and go treasure hunting in their neighborhood for DOGE coins and various DOGE NFTs as part of the augmented reality game.
Polygon – MATIC
Layer 2 scaling solution Polygon is the third coin (MATIC). After recently unveiling the integration of yield-optimizing vaults on the Maker Network, the trader believes MATIC is destined to soar, starting with an initial liquidity injection of $50 million in MATIC tokens. With the latest merger, the protocol’s scope, vision, and transition to become an Ethereum scaling aggregator have all widened.
Chainlink – LINK
Chainlink, a decentralized oracle network, comes next (LINK). According to the crypto trader, Chainlink’s network now has 618 integrations, the most recent of which is with Nifty Royale, a non-fungible token (NFT) marketplace that leverages LINK to a power blockchain-based battle royale games.
Elrond – EGLD
Elrond (EGLD), a blockchain system intended for extremely quick, safe, low-cost, and highly scalable transactions, is the last coin on Arnold’s radar. He says he’s positive on Elrond for the same reasons he’s bullish on Chainlink.