To invest we usually have characters that we like to listen to before making decisions. In this case, Aaron Arnold commented on some cryptocurrencies that he thinks could grow in June. Arnold is the host of the popular crypto YouTube channel Altcoin Daily. Among them he mentioned Cardano (ADA).
In a video posted to the channel’s more than 800,000 subscribers, Arnold noted that ADA will benefit from Alonzo’s upcoming hard fork. This update will allow smart contracts to be implemented on the Cardano blockchain.
Why is Cardano (ADA) one of the best cryptocurrencies recommended by the expert?
Likewise, Arnold pointed out that a report from CoinShares shows that institutions have been more interested in ADA than in BTC or ETH. The CoinShares report says that institutional investment managers purchased $ 10 million worth of ADA products recently.
CryptoCompare data appears to show that investors are betting that Cardano anticipates the hard fork as ADA has outperformed ETH and BTC for the past 30 days. For this reason, ADA stands out on the list of cryptocurrencies whose growth is expected in June.
Other cryptocurrencies that could grow
Aaron Arnold also pointed to Ethereum (ETH), stating that the cryptocurrency has the potential to move forward next month. According to him, his domain has grown along with interest in it, thanks to upcoming protocol updates. Google searches have been on the rise, and EIP-1559, which could turn ETH into a deflationary asset, is right around the corner.
Then the expert pointed to Bitcoin (BTC), since the cryptocurrency has «been varying for some time, and I suspect that at some point it will rebound to its next stage, especially when the big money»Shows your support. He specifically named Ray Dalio, who recently revealed that he owns some bitcoins.
The fourth cryptoasset he named was Polygon (MATIC). MATIC has seen its price rise more than 9,000% so far this year, as demand has been increasing. For Arnold, Polygon’s easy-to-use platform for scaling Ethereum helps him stand out.
Next on Aaron Arnold’s list is Uniswap (UNI). According to him, UNI has increasing transaction volumes and lower transaction costs in its favor. The number six is ThorChain (RUNE), which says it is “disrupting centralized encryption.” Finally, the analyst pointed out Chainlink (LINK), which could have explosive price movements in the near future.