Watch These 2 Altcoins They Might Explode!

Artem Deev, head of analytics at AMarkets, said, "Watch these 2 altcoins, they might explode."

In the past month and a half, many altcoins have skyrocketed in price as Bitcoin rallied to $50,000. For example, the price of Cardano has increased by 72 percent since the beginning of August. This has made the cryptocurrency third in the list of top cryptocurrencies. Over the same period, the value of the Solana token also increased by more than 300 percent. Crypto experts enumerated cryptocurrencies that could repeat such dynamics in the coming months.

AMarkets Points To 2 Altcoins

Artem Deev, head of analysis at AMarkets, advised crypto investors to pay attention to Ethereum above all else. He underlined that in the last two months, fundamental changes have taken place in the blockchain of the largest altcoin, with the use of which this drop will lead to a significant increase in the price of the asset. Earlier in August, the London update was released on the Ethereum network, which enabled the token burning mechanism. On September 4, the emission of Ethereum's asset turned negative for the first time in its history. More cryptocurrencies were burned that day than any newly minted coins. In fact, the value of Ethereum tokens destroyed as of September 16 exceeded $ 1 billion.

Deev Trusts Cardano

In addition, Deev expressed his confidence that Cardano will show significant growth by the end of this year. According to the analyst, the launch of the Alonzo hard fork, which took place on September 12, will positively affect altcoin prices. The update added support for smart contracts and the ability to create decentralized applications (dApps) to the Cardano Blockchain. Deev said, “The new features will make the Cardano Blockchain a potential competitor to Ethereum.” Alonzo was integrated by Input Output, the core development team working on Cardano, for Plutus scripting for smart contract programmability. Over the last few months, Input Output has been testing Alonzo continuously in preparation for the hard fork. At the time of writing, Ethereum (ETH) is down 3.3 percent to $3,418, while Cardano (ADA) is down 2.1 percent to $2.37.