Analyst and trader Austin Arnold is shining a spotlight on several altcoin projects he anticipates will outperform the rest of the crypto market in 2021.
Arnold, who heads the YouTube channel Altcoin Daily, tells his 472,000 subscribers that seven crypto assets are set to moon this year, as altcoin mania appears to be sustaining itself and, his number one pick, Ethereum (ETH) breaches $1,900.
As for why the smart contract platform is his number one pick, Arnold points out that the amount of Ethereum currently held on exchanges is at a 16 month low, a bullish signal. Additionally, Coinbase users can now earn Ethereum 2.0 staking rewards on the exchange, receiving 7.5% APY.
Arnold also believes the rise of non-fungible tokens and their propensity to live on top of the Ethereum platform is bullish for the asset.
“Be prepared for ebbs and flows in the market… euphoric pumps and soul crushing dips but in this case i’d say