Aaron Arnold, an experienced crypto trader, picks his top altcoins for November.
According to the host of Altcoin Daily’s latest YouTube video, Polygon (MATIC) has surged as companies like Twitter work on projects that require Ethereum layer-2 scaling solutions,
“Polygon is on the verge of breaking out and setting new records. This aligns with what we see on-chain as MATIC looks ready to set new all-time highs.
“Within a limited time, frame, Polygon has processed over 1 billion transactions on its proof-of-stake chain. That is an incredible accomplishment.
“It could not have been a better time for Ethereum layer-2 scaling solutions. With all the adoption we see, there is a demand for this,” he said.
Ampleforth (AMPL), one of the original rebasing tokens, has also been launched on Avalanche (AVAX), the smart contract platform.
Several different DeFi [decentralized finance] protocols are coming onto the Avalanche blockchain thanks to Avalanche’s incentives.
Avalanche’s numbers are growing both in terms of addresses and transactions, and the network’s daily active addresses just surpassed 70,000, which represents a weekly increase of over 100 percent.
Arnold believes Filecoin (FIL) and Chainlink (LINK) are also promising decentralized databases and peer-to-peer storage protocols.
“I have included them just because they interoperate with many of the industry’s leaders. In the future, there will be multiple chains, there will be interoperation,” he said.
THORchain (RUNE), an open-source decentralized asset liquidity protocol, also makes Arnold’s list.
This platform is now viewed as a popular place to trade Bitcoin (BTC) for Ethereum (ETH) and ERC-20 tokens for which KYC-less (know your customer) is not required. According to Arnold, the Uniswap exchange will have more real Bitcoin than Wrapped Bitcoin (WBTC) by the end of next January.