Arbitrum, Lido, Ethereum Classic, and These Altcoins May Experience a Price Surge Following ETH’s Momentum

2023-11-10 12:47

As Ethereum gains momentum amid increased institutional adoption, several altcoins tied to its ecosystem appear primed for a rally, according to crypto analyst Layergg.

Layergg notes that the market is currently in a cycle flowing from Bitcoin to Ethereum and then to Ethereum-based altcoins. With BlackRock registering Bitcoin futures and launching an Ethereum ETF in recent weeks, Ethereum now looks poised for a run.

“There has been one round of pumps in the Bitcoin beta coins, and now it’s time to focus on the Ethereum beta,” said Layergg. They highlighted six key narratives that could drive Ethereum ecosystem coins higher:

Layer 2 Scaling Solutions

Optimistic rollups like Arbitrum and zk-rollups like Loopring could benefit as developers encourage use of layer 2 to reduce Ethereum congestion. Total value locked in layer 2 applications has already hit new highs.

Liquid Staking Derivatives

Coins like Lido, Rocket Pool, and Frax Share offer liquid versions of staked Ethereum. Demand for these continues growing as Ethereum transitions to proof-of-stake. An upcoming Ethereum improvement proposal would further reward stakers.

Liquid Staking

DeFi Pendle and Oragon allow users to utilize liquid staked Ethereum as collateral for lending and other DeFi activities. This echoes the “DeFi summer” hype of 2020.

Staking Decentralization Tools

Protocols like StakeWise help mitigate staking centralization risks on Ethereum. Liquid staking adoption makes these solutions essential.

Data Availability Coins

Data Availability Coins like Aleph.im provide data availability functionality that is part of Ethereum’s long-term scaling roadmap. They also offer non-fungible token products.

Other ETH-Adjacent Assets

Ethereum Classic and ENS both maintain close ties to Ethereum. They could also benefit from residual hype.

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With Ethereum’s community gearing up for the DevConnect conference in just two weeks, Layergg cautions crypto investors to brace for impact and pay close attention to Ethereum’s narrative signals. The altcoins fitting into these key themes appear primed should ETH momentum spill over.

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The post Arbitrum, Lido, Ethereum Classic, and These Altcoins May Experience a Price Surge Following ETH’s Momentum appeared first on CaptainAltcoin.

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Ethereum (ETH) на Currencies.ru

$ 3557.85 (-0.53%)
Объем 24H $38.358b
Изменеия 24h: -1.95 %, 7d: 7.15 %
Cегодня L: $3523.8 - H: $3665.21
Капитализация $428.515b Rank 2
Цена в час новости $ 2101.68 (69.29%)

altcoins ethereum momentum layergg notes according rally

Источник: captainaltcoin.com

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