The host of the Coin Bureau channel on YouTube has released his five best altcoins for this year in a video posted to his 225,000 subscribers and expects a smaller number of altcoins to benefit from the bull market.
In the video, which was first spotted by Daily Hodl, the pseudonymous analyst noted that those who have followed the cryptocurrency space know that altcoins are usually pumping after the price of BTC rose in what is known as the old season, but warned that The markets of increasing complexity “it is unlikely that this tide will lift all boats. “
He then outlined his top altcoin picks for the year. First up was the privacy-focused Monero (XMR) coin, which analysts have tried unsuccessfully to decipher for enforcement purposes, and indicated that its trading volume exceeds that of any other privacy coin.
The developers working on XMR are helping the security and privacy of the cryptocurrency, and ensuring that those who use it can remain anonymous. However, the exchanges have faced regulatory pressure to delist these currencies.
Crypto exchange Bittrex announced earlier this year that XMR, ZEC and DASH had been delisted. While the exchange didn’t specify why it delisted the tokens, it is widely believed that the move was an attempt to comply with increasingly stringent regulations.
The second choice was Algorand (ALGO), pointed out by the analyst, to develop a scalable, secure and decentralized blockchain, and which has a higher transaction throughput than the Ethereum network.
Recently, the center’s USDC stablecoin was launched on Algorand. For the analyst, this means that the demand for ALGO will increase as the transaction fees are paid in the Cryptoasset.
This means that USDC users can send the stablecoin on the Algorand network cheaper and faster than would be the case with Ethereum, for example.
He pointed out that Visa recently partnered with Circle, one of the companies behind USDC, which connects its network of 60 million merchants with the stablecoin. When Circle completes Visa’s Fast Track program, a credit card may be introduced that businesses can use to send and receive USDC.
His third choice was Theta, a decentralized streaming and content delivery network that he says rivals YouTube and Twitch, which have millions of users. The company, he said, has grown by only streaming eSports to add poker, crypto events, and more to their portfolio.
In fourth place was the Injective Protocol (I_NJ), a decentralized futures exchange based on the Cosmos network. He said:
You are trying to create a paradigm shift in DEX space. Quite simply, it allows users to trade spot, swaps and futures in a completely permissionless manner.
The analyst added that the exchange will also structure a derivatives market for “anything that has a price.”
In fifth place came BarnBridge (BOND), which, according to YouTuber, is trying to identify risk by pooling funds and assigning them to various decentralized protocols. He added:
Once the funds have been withdrawn, they will tranche the return so that they can be tokened individually. This therefore means that DeFi investors can invest in different risk tranches depending on their return and risk tolerance.
BarnBridge is well positioned to attract more users as the overall value of the DeFi space grows.
Selected image via Pixabay.
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