The host of the popular YouTube channel Altcoin Daily is naming six cryptocurrencies that he believes are set to surge next month.
Aaron Arnold kicks off the list with Cardano (ADA), which he argues will have its price driven higher by the upcoming Alonzo hardfork that will deliver long-awaited smart contract capabilities.
Arnold highlights a report from CoinShares showing that in the past week, Cardano has outpaced Bitcoin and Ethereum in institutional inflows.
“Institutional investment managers bought $10 million worth of ADA products for the week ending on Monday.
By comparison, Bitcoin funds saw an outflow of $110.9 million during the same week. Ether outflows totaled $12.6 million.”
The second digital asset in Arnold’s list is Ethereum whose rally, he argues, will also be driven by protocol updates. Additionally, Ether’s dominance is growing as interest in the cryptocurrency spikes.
“Number one, Ethereum’s dominance continues to trend up. Number two, interest in Ethereum, verifiable interest, continues to trend up. People are seeking out information on Ethereum, trying to learn about it and basically awareness is increasing in a big way.”
The cryptocurrency influencer places Bitcoin third on the list of digital assets expected to rally in June.
“Bitcoin has been ranging for some time, and I suspect that at some point it is going to rally to its next leg up especially as big money, and notable people like [hedge fund billionaire] Ray Dalio, come out in showing support.”
The fourth crypto asset on Arnold’s list is the Ethereum scaling and infrastructure development platform Polygon (MATIC). He cites Polygon’s build quality and user-friendliness as key reasons for his bullishness.
“Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.”
Decentralized exchange Uniswap (UNI) comes in fifth on Arnold’s list. Per the cryptocurrency analyst, key features of the leading decentralized exchange are increased volumes and lower transaction costs.
At number six is ThorChain (RUNE) which Arnold says is ‘disrupting crypto centralization’ while oracle service Chainlink (LINK) comes in last. Arnold likens Chainlink to online search engine Google when it initially launched and predicts that it is likely to have an explosive June.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/tunnelmotions/Dario Lo Presti
This news is republished from another source. You can check the original article here