Thursday, January 21, 2021

Altcoin Daily Host Says Cardano (ADA) Is Poised For Huge Gains As It Gears Up For Major Announcements

The host of Altcoin Daily, who is also a crypto analyst, Austin Arnold, has stated that Cardano (ADA), the sixth-largest cryptocurrency by market capitalization, is poised for a huge gain in the coming month, as the project prepares for major announcements.

Arnold told his over 388,000 viewers on YouTube that he’s bullish on the smart contract platform and Ethereum’s major competitor, as it plans and prepares to provide support for native tokens.

Read Also: Charles Hoskinson Hints At When to Expect the First Decentralized Voting System on Cardano Network

Arnold noted:

“Similar to how ERC20 tokens can be issued on Ethereum, assets are coming to Cardano. When? Well, that date is approaching closer and closer and while much of the Cardano community is thinking that we’re probably ramping up for a late January event slash support of native assets, from my research, it seems like the current plan is for [it] to be released in the middle of February.” 

Additionally, Arnold pointed out that Cardano (ADA) will soon transition from Shelley to Goguen, which is expected to allow the platform to issue native tokens that will leverage the security behind the digital token ADA without requiring smart contracts.

Arnold Is Also Bullish On Sushiswap (SUSHI)

As he’s bullish on Cardano (ADA), the host of Altcoin Daily, Austin Arnold, also showcased his bullishness on Sushiswap (SUSHI), a decentralized exchange (DEX).

According to Arnold, SUSHI will make a big splash next month after Sushi released an ambitious roadmap for 2021:

“Here are the highlights of this new roadmap: a cross-chain DEX that will be enabled by RUNE and Moonbeam, and implementation on the Polkadot chain, as well as a fully decentralized governance structure by the end of 2021.

Read Also: Cardano Development Fund Expands with $500,000 Round, Surpasses Dash and Ethereum’s DAOs Combined

That means they’re trending towards more decentralized, which to me is bullish. Also bullish, implementing a cross-chain DEX with the help of Polkadot. That’s huge. That means they’ll be able to work with everybody.”

The crypto trader also referenced the launch of BentoBox, a lending solution. The analyst added that the launch indicates a move to become a decentralized finance (DeFi) lending and borrowing protocol, rather than an automated market maker.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

Related Articles

Latest Articles