Altcoin Daily host and crypto trader Austin Arnold is calling out three altcoins he believes have the greatest potential for rallying this month.
In a new YouTube video for its 423,000 subscribers, the crypto influencer takes note of the latest Goguen Mary update from Cardano (ADA).
The update is currently being deployed on Cardano’s public test network to monitor performance. Goguen Mary is expected to be launched on the mainnet by the end of the month.
“So this is a great accomplishment. This is a big reason the Cardano price is rising in anticipation this month. For you, it means assets can now be built on the Cardano blockchain.”
Arnold also highlights IOG, the company behind the fourth largest cryptocurrency, plans to bring millions of people in Africa to the Cardano blockchain. Arnold cites a quote from John O’Connor, IOG’s director of African operations, confirming Cardano’s progress in promoting adoption on the continent.
“Unfortunately I can’t show as much as I want. What I can say is that we are in the final stages of a large government contract that would involve several million users for a real blockchain implementation on the platform. This is kind of a 10x improvement in practice from what is currently being done in this area. “
Arnold is also looking into SnowSwap (SNOW), a decentralized exchange that generates returns for liquidity providers, and the recent integration of Chainlink’s fast gas oracle (LINK).
“If this sounds a little confusing, just know that SnowSwap is a new cryptocurrency. They are built into Chainlink for decentralized oracles. The last thing I’m going to say about this is this: since SnowSwap has the Chainlink Fast Oracle built into the mainnet, the stakers can use Chainlink’s decentralized Fast Gas pricing oracle to deposit and withdraw to ensure they are properly considering the Ethereum -Network fees when switching between revenue generation strategies on SnowSwap. That way, they will know they are getting the most accurate and cheapest fees by using many / a decentralized oracle network. Very very interesting. “
The last coin on Arnold’s list is Enjin Coin (ENJ), a crypto-asset that supports the value created on the Enjin platform.
The crypto trader says Enjin is teaming up with blockchain real estate company Labs Group to label real estate investments and allow real estate owners to issue non-fungible tokens (NFTs) for traders on Labs Security Exchange.
Arnold quotes a quote from Enjin’s CEO Maxim Blagov:
“The real estate industry offers a product that is fundamental to our survival, which is why the market is so stable. It is only a matter of time before real estate is tokenized. Together with Labs, we can be among the first to disrupt one of the oldest markets in the world. “
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Featured image: Shutterstock / Tithi Luadthong