Popular crypto analyst Austin Arnold says that the momentum gained in 2021, starting with the smart contract platform Solana (SOL), will be key for 6 altcoin projects in 2022. Let’s take a look at Arnold’s predictions and the altcoins he listed.
Austin Arnold: I expect the Solana (SOL) momentum to continue
Arnold outlines a few key factors as to why he expects Solana to continue to grow, mostly focusing on the success of the blockchain’s Phantom wallet, which currently has over 10 million users. The analyst also predicts the launch of the interoperable blockchain Polkadot (DOT) in 2022, largely thanks to the project’s parachain auctions:
Assuming companies are trying to acquire Polkadot parachains, the $4 to $44.5 billion worth of DOT by the end of the first auction lot is likely to remain locked for about two years, reducing potential selling pressure and supply circulating in the market.
Looking at the PoS Blockchain Cardano (ADA), Arnold suggests that the altcoin project’s total development activity in 2021 could be indicative of big gains for the cryptocurrency in 2022.
Analyst optimistic on tier 2 altcoin projects
Moving to the Layer 2 scaling solution Polygon (MATIC), Arnold predicts MATIC’s explosive 2021 will translate into continued gains in 2022, citing a tweet from Polygon co-founder Mihailo Bjelic:
I think 2022 will be the start of the second layer (Layer-2) year.
Arnold, whose analysis we share as Somanews, predicts that Chainlink (LINK) is finally ready to explode in 2022, although it did not meet the expectations of many traders in 2021. Arnold points out that LINK’s price has not been able to reach ATH levels anytime soon, while noting that most of Chainlink’s other growth metrics are positive. The analyst awaits the release of LINK’s cross chain interoperability protocol, LINK staking, and an abstraction layer for businesses to continue driving Chainlink’s growth into the future.
Analyst follows an altcoin project more closely
Finally, Arnold cites DeFi altcoin Aave, which has recently announced plans to create a mobile wallet:
All in all, Aave seems to be gaining momentum, especially when it comes to ecosystem-centric developments, with a set of targets for the first quarter of next year.