Altcoins
Top Trader Reveals Top 5 Altcoins Amid EthereumcETF Approval
- Leading analyst Michael Van de Pop suggested that Optimism, Arbitrum, Woo Network, Wormhole and Dogecoin could be poised for bullishness given the approval of Ethereum ETFs.
- The approval of Ethereum ETFs shook not only the Ethereum ecosystem but also the entire cryptocurrency world.
Top crypto analyst Michael Van de Pop has given his top 5 altcoin picks. This follows the approval of Ethereum ETFs, which sent shockwaves not only within the Ethereum ecosystem, but also across the entire cryptocurrency world. Van De Pope believes that this significant event will trigger a surge in the Ethereum ecosystem.
Below is a list of altcoins that Van De Pop is monitoring and which he believes are heading into an uptrend.
Optimism (OP)
Leading the pack is Optimism, a Layer 2 scaling solution designed to address Ethereum’s scalability challenges. As the price of Ethereum continues to rise, platforms like Optimism that ensure efficiency are expected to thrive. This layer 2 program uses roll-up technology, batching transactions before sending them to the mainnet, thereby reducing transaction costs and increasing speed.
Van De Pop highlighted the growth of the Optimism ecosystem, highlighting its remarkable Total Value Locked (TVL) ratio. Additionally, Optimism boasts of its low circulating supply, further indicating the potential for a price rise. Combining these notable factors, Van De Pop estimates that OP’s price will increase by 300-800% in BTC value over the course of the semester.
Arbitration (ARB)
Arbitrum, primarily known as the privacy and security guide, is a close second. A Layer 2 scaling solution closely competes with Optimism for dominance that exploits zero-knowledge rollups. Arbitrum uses complex technology ensuring faster and more secure transaction processing.
Although Arbitrum has not mimicked its strong fundamentals, Pop believes ARB is poised for bullish momentum due to its significant TVL and ongoing development activity.
He believes that this factor poses an arbitrage problem for a price rebound in the near future.
Woo Network (WOO)
Boasting high liquidity and low fees decentralized exchange (DEX), the Woo network appears in Van de Pop’s list of altcoins to buy. Woo, as a decentralized exchange, benefits from the increasing regulatory oversight surrounding centralized exchanges. Woo Network appears in Van’s list due to its advanced technology and growing user base, which represents significant growth due to the growth of the Ethereum network. Van de Pop predicts that Woo Network’s value will skyrocket by 500% to 1,500%.
Wormhole (W)
Wormhole offers interoperability asset transfers between different blockchains. As the Defi ecosystem grows, sharing information and data across blockchains becomes essential. Wormhole’s innovative ability to do this gives it a leg up. As a network to invest in. Although a new player, Wormhole’s potential for widespread adoption and integration is undefeated.
Dogecoin (DOGE)
Topping the list is the popular meme-coin Dogecoin. Dogecoin’s strong community and recently observed price increases put it on Van’s shortlist. trade at $0.1611, a 1% rise over the past month positions DOGE as a volatile token. According to Michael Van de Pop, DOGE is a high-risk, high-reward asset. He points out during the recent surge in other meme coins and points out that Dogecoin could potentially see a 4-5x increase.