- Altcoin Daily’s Austin Arnold has listed the top 6 most explosive altcoins on Coinbase exchange, including Uniswap, UMA, Decentraland and Chainlink.
- Coinbase has recently announced that its stock is set to debut on Nasdaq on April 14 in a move that could give the industry great mainstream attention according to experts.
Coinbase has confirmed that it’s set to list on the Nasdaq stock exchange in two weeks’ time. The exchange, which is the largest in the US, will debut on April 14, trading under the ticker symbol COIN. Coinbase is to go public via a direct listing in which it will not raise any new capital. It was valued at $90 billion in its final week of trading on the Nasdaq private market.
The IPO is monumental to the entire cryptocurrency industry, Wall Street titan Tom Lee believes. The Fundstrat Global Advisors founder told CNBC, “I think when people go through the S1 [the SEC filing companies use to go public], they’re going to realize Coinbase is probably one of the top five most profitable exchanges in the world. They might make more money than Nasdaq.”
The top 6 most explosive altcoins on Coinbase
In light of the announcement, Altcoin Daily looked at the top six most explosive cryptocurrencies trading on Coinbase. The first is Chainlink (LINK), a blockchain oracles network that has become one of the most valuable cryptocurrencies. The project announced recently that it will release its Chainlink Price Feeds as a module for the Substrate blockchain framework. In essence, this means that projects building on Polkadot or Kusama parachains can integrate Chainlink oracles in a simplified way.
“I can see the integrations to the Chainlink ecosystems get a whole lot bigger as this year progresses,” Austin Arnold, the founder of Altcoins Daily told his 619,000 subscribers.
Arnold also touted Cardano as one of the cryptocurrencies with the most potential. Cardano is working to enable developers to use a vast array of programming languages to build on its network. Its direct rival, Ethereum, only allows developers to build with its Solidity programming language.
You will be able to write smart contracts on #cardano in the following languages in 6 MONTHS:
Languages marked with asterisks will also be available on #ethereum.
— 🌍₳DA Ape🌍 (@TheADAApe) April 1, 2021
Third on his list is the universal market access (UMA) cryptocurrency. UMA allows users to create custom synthetic assets that can track the price of anything. “It’s automating and decentralizing something the traditional market already has. Only now, there will be no gate-keeping. Think about this as very similar to Synthetix,” Arnold stated.
Altcoin Daily is also keeping an eye on Decentraland, a token that powers a decentralized digital real estate marketplace. As per Janine Yorio, the head of the project, current Decentraland investors are similar to landowners in 18th century Manhattan.
Top DeFi coins
No list of explosive cryptocurrencies is complete without including the DeFi ecosystem. According to Altcoin Daily, one of the DeFi tokens with the most explosive potential is Yearn Finance (YFI).
To answer the question ‘are people actually using/finding value in the protocol,’ – the answer is yes. Actually, value locked in Yearn by vault type is at an all-time high, even higher than what we saw at the end of 2020. However, the value of the YFI token hasn’t yet returned to all-time highs yet.
Additionally, Yearn Finance has continued to partner with other players in the ecosystem to further increase the yields for their users.
12/ To further enhance yield, you can use Yearn ecosystem partner @picklefinance to automatically harvest and compound the 🍣 rewards with additional pickle 🥒on top. The Pickle farm is earning 39.32% APY. 🍣 🥒🦙 pic.twitter.com/geAl6ZI2cv
— yearn.finance (@iearnfinance) March 30, 2021
The second DeFi token on Altcoin Daily’s list is Uniswap. As CNF reported, Uniswap announced UNI-V3 recently, seeking to cement its position at the top. The most remarkable upgrade is the 4,000x capital efficiency. In addition, it will have flexible fees and advanced oracles.