Ethereum (ETH), Solana (SOL), And Polygon (MATIC) Price To Explode In 2022 | CryptoGazette
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The crypto market has suffered a few corrections lately, but this does not mean that Bitcoin is not struggling to remain above $42k.
Crypto analyst Aaron Arnold thinks Ethereum (ETH), Solana (SOL), and three other altcoins will be “explosive” this year.
The co-host of Altcoin Daily said that surging interest in non-fungible tokens (NFTs) and decentralized finance (DeFi) is driving his bullishness on a handful of crypto assets.
“[I’m] talking about quality L1s and quality L2s. I’m talking about projects that have real activity going on on the protocol. These cryptocurrency projects are going to be explosive this year. Why do I say that? It is because the amount of activity we are seeing in the NFT space, the DeFi space, just continues to go parabolic.”
Leading smart contract platform Ethereum is trading at $3,138.40 at the time of writing. The competing smart contract platform Solana is currently trading at $136.58.
Arnold is also bullish on layer-2 scaling solution Polygon (MATIC), which is trading at $2.02 at the time of writing.
Solana adoption news
Solana (SOL) has been making headlines a lot last year, and the coin continues to see adoption in 2022 as well.
It’s been just revealed that the bearish sentiment among institutional investors in the crypto markets seems to be cooling despite millions of dollars in outflows from digital asset investment products.
The online publication the Daily Hodl notes that according to digital asset manager CoinShares, crypto investment products suffered outflows of $73,000,000 last week. It’s also important to note the fact that this is the fifth week of outflows in a row.
“Digital asset investment products saw outflows totaling a weekly record of US$73m, the 5th week of outflows with this run now totaling US$532m.”
Despite the general downward trend, Solana (SOL) has only had two weeks of outflows in the past three months.
“Solana remains an investor favorite with inflows totaling US$5.4m last week and has only seen two individual weeks of outflows since August 2021.”
Stay tuned for more crypto news.
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