Coin Edition - Crypto pundit Ben Armstrong has recently spotlighted five cryptocurrencies he believes are worth considering for investment in the growing bull market. Armstrong got inspiration from a list curated by the crypto YouTube channel Altcoin Daily.
Topping the list of recommended tokens was Ethereum (ETH), Bitcoin’s primary contender. ETH made the listing amid projections from Standard Chartered analysts who have forecasted Ethereum’s peak for this cycle to be $14,000. Notably, Standard Chartered analysts considered the likelihood of an ETH-based spot ETF approval by next month.
However, recent developments have sparked arguments about the SEC’s unlikely approval of the ETH ETF by May. This involves the SEC potentially classifying Ethereum as a security.
Meanwhile, the Altcoin Daily presenter emphasized that such developments would only have temporary impacts. Armstrong agrees with this perspective, noting that Ethereum represents a good buy regardless. At press time, ETH trades at $3,556.79, with 3.8% gains.
The second token the Altcoin Daily analyst mentioned was Chainlink (LINK), particularly given the project’s recent recognition as one of the most innovative companies of 2024. The recognition comes amid Chainlink’s CCIP solution to blockchain networks’ interoperability issues and its platform accelerating real-world asset tokenization.
The third pick was Polkadot (DOT), which featured the list amid a proposed overhaul of its tokenomics via Polkadot 2.0. The upgrade introduces a burn mechanism for the blockchain’s DOT, among other value propositions. DOT trades at $9.27 with no positive gain over the past 30 days.
Avalanche (AVAX) emerged as the fourth pick. The Avalanche team plans to buy out community tokens with $100 million to potentially rival the meme coin frenzy in the Solana ecosystem.
Meanwhile, the analysts cited potential in the COTI token, a low-cap crypto project ranked 261. COTI broke a yearly high of $0.27 last month with an explosive 121% rally.
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