Traders are looking at three altcoins that will mirror the recent rise of Solana.
The token, Solana (SOL) is now the sixth-ranked cryptocurrency, according to FTX exchange data. Its trading price is up nearly 600% from its July low of $23.47, where it was trading at $175.
After SOL’s breakout to a new all-time high, crypto trader, Micheal van de Poppe has shifted his focus to decentralized blockchain platforms Tezos (XTZ), Polkadot (DOT), and Cosmos (ATOM).
Essentially, Tezos relies on smart contracts in a way that’s similar to Ethereum. In the end, Tezos has a big advantage: an advanced platform that can improve and evolve over time, with no danger of hard forking.
Holders of XTZ have the ability to vote on proposed protocol upgrades put forward by Tezos developers.
At the time of writing Tezos traded at $6.16 with a daily trading volume of $943 million.
Polkadot is a multichain sharding protocol that facilitates the transfer of almost any data type, not just tokens. This allows multiple blockchains to interact, thereby improving interoperability.
Interoperability would enable the creation of a private and transparent web that is completely decentralized and controlled by its users.
Through the Polkadot relay chain, this protocol connects public and private blockchains, permissioned networks, oracles and future technologies, allowing these blockchains to securely share information and transactions.
Michael van de Poppe told his 123,000 YouTube subscribers that Cosmos (ATOM) looks ready to run based on its underlying market structure.
It’s either Tezos, Polkadot, or Cosmos as a layer-one solution to follow Solana, given its incredible structure.
“As for the future outlook for ATOM, Van de Poppe notes two significant price levels. It has retested off of the ($17.47) level, and I think we’re going to break the highs soon and then the next target zone for Cosmos is $47 and $72,” Poppe added.