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Tuesday, June 4, 2024
HomeCryptoAnalysts share 2 tokens to consider in the next altcoin season

Analysts share 2 tokens to consider in the next altcoin season

As the cryptocurrency market prepares for what many believe is an upcoming altcoin season, investors are eager to identify the top cryptocurrencies with the potential to deliver significant returns.

In one tweet Recently, famous crypto analyst Dan Gambardello shared his top three altcoin picks for the upcoming bull run: Cardano (ADA), Avalanche (AVAX).

Gambardello said he has followed and fundamentally analyzed these two altcoins and he believes that these coins have the potential to grow well in the upcoming altcoin season.

*Note: this article is for reference only and absolutely should not be considered an investment recommendation*

Cardano (ADA)

Gambardello’s first pick is Cardano (ADA), a top-10 cryptocurrency that he considers a “sleeper with crazy fundamentals.” Despite the false narrative that Cardano is useless or centralized, the analyst points out that “Through the Voltaire upgrade, Cardano will have the largest on-chain governance system of all cryptocurrencies entirely run by the community. I believe this is a testament to true decentralization.”

The analyst also highlighted the scaling potential for Cardano, which he believes will shock everyone, along with its excellent security layer. Gambardello has been studying ADA for many years and notes that while the price typically moves quite slowly, he is currently not concerned about ADA’s price action in the short term.

Gambardello said that in the long term Cardano will be able to see sustainable growth, similar to its previous performance.

Avalanche (AVAX)

Gambardello’s second pick is Avalanche (AVAX), another leading altcoin that he believes is currently experiencing positive developments, which could propel the AVAX price to a major recovery.

Besides the proposed ‘reinventing subnets’, the analyst points to the potential to attract institutional investor interest and the hype surrounding the Avalanche ecosystem.

He specifically mentioned John Wu, President of Ava Labs, the development company behind Avalanche, and his optimism about the AVAX ETF. Gambardello sees this as a positive sign and believes that Avalanche has enough energy and momentum to “enjoy” another altcoin bull season.

See more: DEX Velocore announces compensation after hackers took $7 million

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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