Austin Arnold, a cryptocurrency trader and host of the popular program Altcoin Daily, describes four mid-size altcoins that he thinks have great long-term potential.
First on Arnold’s list is Compound (COMP), a decentralized finance (DeFi) lending protocol. The analyst cites the news that Compound Labs, the creator of Compound, has implemented a new project called Compound Treasury.
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The project is designed so that businesses and financial institutions unfamiliar with the cryptocurrency space can access the Compound protocol.
The next altcoin on Arnold’s list is Ethereum scaling solution Polygon (MATIC). Polygon recently announced the launch of a new general purpose blockchain called Avail:
Ethereum-based indexing protocol The Graph (GRT) is the next altcoin on Arnold’s list. He points to news that The Graph is partnering with Optimism, an Ethereum scalability solution:
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Last on the analyst’s list is Decentraland (MANA), the decentralized virtual reality world project.
Arnold cites the news that a digital plot of land in Decentraland was recently sold for approximately $1 million worth of MANA. He says this is a sign that big players are buying the virtual ecosystem: