Bitcoin, Ethereum (ETH), and Cardano (ADA) are the top three crypto-assets for 2021, according to the renowned YouTube crypto channel Altcoin Daily. As the crypto market continues to recover from its late-May fall, Altcoin Daily host Aaron Arnold discusses why he’s positive on top cryptocurrency Bitcoin, top smart contract platform Ethereum, and Ethereum’s close challenger Cardano in a new video.
Though many projects, including the three highlighted in the video, have seen large increases in value over the past year, the trader points out that there are still plenty of opportunities for investors to improve their wealth with the correct crypto picks.
Cryptocurrency offers so much potential right now. If you missed out on the early days of the internet, now is the time to appreciate Bitcoin, decentralised finance (DeFi), and crypto. This chance, like the early days of the internet, will not exist indefinitely, he said.
Arnold is bullish on Bitcoin, despite the fact that it is still struggling to reclaim the $40,000 price level and the Bitcoin fear and greed index remains in the “fear” zone. Arnold goes on to say that the present mood in the crypto markets is nothing like it was after the 2017 crash when everyone expected a brief pause before another leg up that never materialized.
The Bitcoin taproot upgrade is also approaching, which will help keep Bitcoin in the news. According to Arnold, the improvement will improve Bitcoin’s anonymity, speed up transaction rates, and decrease the amount of data kept and exchanged on the blockchain.
Ethereum will also receive an upgrade in 2022, according to Arnold, which will keep the asset in the spotlight. As individuals stake their Ethereum on ETH 2.0, the new version will not only capture a large portion of the ETH supply, but it will also improve the efficiency of the blockchain by switching from proof-of-work to proof-of-stake consensus.
Furthermore, according to Arnold, much of the supply of ETH is locked up in popular DeFi platforms, generating a further supply crunch for the asset. Arnold will be keeping a watch on Cardano throughout the remainder of the year, as the platform prepares to launch fully functional smart contracts in the coming months. The Alonzo testnet was just deployed successfully, indicating a strong case for the Ethereum competitor led by Charles Hoskinson.