So what are the five best Ethereum-based cryptocurrency coins that are going to be absolutely explosive before this new Ethereum merge, which is going to happen very soon?
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First Altcoin
Ethereum will be your first altcoin. The reason why I think Ethereum is for a few different reasons. First off, we’ve already seen a tremendous amount of growth in the last, I would say a week or two, from a low of $1000 all the way to $1700.
Ethereum, though, if you take a look at the chart here, has gone all the way as high as approximately $5,000. You can see a year ago we were right at $5,000. Our all-time high was $4,878. We’ll run up to $5,000.
So even if you’re a long-term holder, I think that Ethereum was at $9,500 at that time. This is exactly when ETH reached its bottom. I think that it’s going to $10,000. Ethereum dropped 94% in the last bear market. It didn’t go as low yet, but it would have been a very nice move.
What I want to share with you is the fact that what we’re copy trading crypto right now with Ethereum in the Ethereum ecosystem is a narrative in the current moment. This can change on a day-to-day basis. That’s why it’s very important to continue to keep coming back to this channel because I can say Ethereum looks great today, but after the merge in 43 days, I think we could have a buy the rumor, sell the news event. I think people are getting a little bit too smart for that.
What we’re seeing here is we’ve seen a nice pump in Ethereum get everyone kind of excited and I do think that we may see some consolidation or even some downwards action in the short to mid term. Closer to the 43 day mark, I think that we’re going to get another buy the rumor, sell the news event.
When did we see this again? Well, we saw this with another cryptocurrency that did this last year, and I remember this like clockwork because it was literally the exact same situation. Cardano smart contracts came out, and if you take a look at this, that was the ultimate peak again. We saw a nice move and a nice run-up to that. We then saw a cool off. Then we went blasting high right as it happened. Then it was just nothing but bearishness for quite a while.
So, will we see something very similar with Ethereum? I believe, yes, I do think something similar is potentially going to happen with Ethereum. We’re already seeing that first kind of leg up from our lows of right around $950 to a $1,000, so we’ve seen a nice profit.
For literally the last few weeks and months here, I’ve been saying that I believed that right now was the opportunity, and that if you went against the bearish narrative, everyone was calling for $10,000-12,000. If you’d gone against that, you’d be doing very well today. Of course, no one knows exactly where the bottom is going to be. However, what I want to share with you is that, in today’s narrative, Ethereum, I believe, is leading the pack.
So you’re interested in Ethereum and the Ethereum ecosystem, so the top Ethereum ecosystem coins are listed below right now.
Second Altcoin
Your second coin is going to be Ethereum Classic. This one’s already had a very nice move as well. You can see from its lows of $14 all the way up to $40.
And the reason I’m actually a believer in Ethereum Classic now more than ever is because what’s happening with the merge is that mining is really not going to be a thing anymore because we’re moving from proof of work to proof of stake.
So these miners who have all this equipment, they want to have something to do with that. They don’t want to just, you know, have it go to waste. Well, I believe Ethereum Classic is going to give miners a second chance. It’s going to be basically, like Ethereum. That, we know now, is why they think they want to survive and to last. This is why we’re seeing such a nice move in Ethereum Classic.
The market cap is only $5 billion compared to Ethereum’s market cap, which is a lot more than $5 billion. It is literally $200 billion. It’s not a hundred times okay, but it’s literally like 20 or 30 times bigger, so if you’re looking for more volatility, and the key here with these altcoins is volatility, okay. It’s very important to understand high risk, high reward with the altcoins and we’re not necessarily looking to buy here and it’s just going to go to the moon forever. If the ecosystem is moving and the ETH coins are the ones to take a look at right now because 10-50%, maybe even 100% gains are on the table.
In fact, we’re seeing that right now. You can see Ethereum Classic is leading the way with 55%, Lido DAO with 54%. We’re going to get into some more ETH coins right now.
Third Altcoin
Your third is going to be another leader Polygon. This was the ultimate buying situation at $0.40. It went all the way back to the lows. We tested these lows. I think that we’re now moving out of the way, so this was that test that we needed to see to get everyone out who was not long on this, and then off we go to the races.
Could we go back up to $1.40-1.50 before the Ethereum merges, and then roll back over to these lows? Anything can happen. The world is too unpredictable right now, in my opinion, but we can trade a narrative, I think, with a lot of these altcoins. I think that, yes, Polygon did make a move.
If you missed the first half of it, I think there could be another push higher. They just partnered with Disney. Having a Polygon is so essential to having Ethereum go. I think that this one again has a smaller market cap of $7 billion. I think this could double. And I could certainly see this going to $1.52 as one more push higher before we eventually roll back over, so please understand that with Polygon, that is your third option.
Fourth Altcoin
So what is your next altcoin? It’s going to be Optimism. Optimism has made a move. So I will wait for it to cool off for me a little bit. You still have time here before this merge and I’m not recommending anyone buy any of these cryptocurrency coins. Please understand that what I am sharing with you here today is not financial advice. You need to do your research and you should never risk more than you can ever afford to lose. I’m going to share with you different cryptocurrencies that are in the Ethereum ecosystem that I think have the potential to get another leg up.
Optimism is certainly one of those cryptocurrency coins that has been trading sideways for a very long time. It would have been amazing to get this for 50 cents. It’s been made two or three times already, so if you take a look at the market cap, though it’s not even a billion dollars, this is insane ($375 million).
I think there is still an opportunity in Optimism and again, something to take a look at if this breaks its all-time highs here, up, up and away. As you can see, all-time highs were at $2.10. I think that we will see maybe a little cool off. We’ll have a little bit of resistance at all-time highs, but if you break all-time highs, clear skies ahead, Optimism could certainly continue to keep running.
Fifth Altcoin
Your fifth and final altcoin is Uniswap. Why Uniswap? Uniswap is the largest decentralized exchange for Ethereum-based tokens and is absolutely essential to Ethereum and its success. Uniswap has already doubled from the bottom. It went all the way back down to $3. Nice little balance again.
We could copy trade crypto sideways for a little bit, but only being $4 billion dollars is definitely bigger than Optimism and a couple of the other cryptos that we talked about. I could see Uniswap going right around back to these $15 to $20 marks. We got through easily in a nice little push before we potentially roll over again towards the ETH merge. We merge in 43 days. Set your calendars. I will be here paying attention every single day because this market is moving quickly.
[This article is a transcription of a video made by Joe Parys]
[Original video: https://youtu.be/nBd78bYAJYA]
