Friday, September 24, 2021

Analyst: Ethereum (ETH), Cardano (ADA), Binance Coin (BNB) Have Capability for Bullish Momentum

Aaron Arnold, a crypto analyst and trader, has named Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), and few other altcoins with potential for bullish momentum once the bull market returns.

According to the Altcoins Daily analyst in a new video, the attraction gained by the second-largest cryptocurrency by market cap from Senator Pat Toomey is significant to its potential. He also referenced the 5 million unique addresses attained by the Ethereum network in the past 30 days as a sign of consistent development.

Aaron Arnold noted:

“Numbers like this, charts like this, cannot be ignored, my friend. The proof is in the data. And finally on ETH, Ethereum gas prices dropped to the lowest rates since March 2020. You can attribute this since the price dropped. However, Coinmetrics says Ethereum gas prices actually began declining before the price of ETH did because ETH has been doing some scaling this year.”

Cardano’s Consistent Growth

According to Arnold, another major altcoin to watch is the Ethereum (ETH) stern competitor, Cardano (ADA). In the last couple of months and past 30 days, Cardano has been outperforming other crypto projects in terms of average daily development on GitHub, which is an indication that work is vehemently in progress to improve the performance of the network.

Uniswap (UNI) and SushiSwap (SUSHI) Bullish Capability

Another altcoin on Arnold’s radar is Uniswap (UNI). According to the Analyst, Uniswap V3 is currently dominating the decentralized exchange market.

Similarly, the analyst is bullish on Uniswap’s competitor, SushiSwap (SUSHI), stating that the crypto asset is poised for notable growth and development before the end of the year.

Arnold on Sandbox (SAND) and Binance Coin (BNB)

The Altcoin Daily analyst is also bullish on Sandbox (SAND). Arnold is of the opinion that Sandbox is capable of competing with the virtual decentralized marketplace, Decentraland (MANA).

In conclusion, Arnold pointed out that non-fungible tokens (NFTs) will continue to gain popularity, referencing Binance’s move to have headway in the fast-growing market. He thereby opined to see the success of Binance Coin (BNB) in the coming months.

Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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