Guy, the host of Coin Bureau, a Youtube channel that offers crypto analytics, made new statements. While preparing for the new year, the analyst especially drew attention to two altcoin projects. Here are the details…
Coin Bureau draws attention to two altcoin projects
Coin Bureau has released its forecasts for Ethereum (ETH) and Polkadot (DOT) as the markets prepare for a new year. Guy pointed to Ethereum’s major update in a new Q&A update. He says the Shanghai update, which will allow ETH to be unstacked, could make 2023 a big year for the leading smart contract platform. According to the analyst, when traders see billions of dollars worth of ETH unlocked, this may encourage them to stake their crypto without worry.
So when users see that ETH can indeed be staked and easily sold, it may encourage them to actually stake themselves. So the analyst says the result can go either way. “Now, if we see some selling, I wouldn’t be surprised if there’s some downside in the short term,” he says. Then he adds:
But I think the future of ETH is very, very bright, and I think assuming Shanghai will run smoothly, then I think 2023 could be a really big year for Ethereum. Price estimation, I don’t know… I don’t think we’ll see a five-digit ETH in 2023 but I think it’s entirely possible. Sure we can see a change, but I’m not sure. I expect a lot of sideways price action for ETH over the next year.
Coin Bureau pointed to these developments about Polkadot
Looking at Polkadot, the Coin Bureau host pointed to the efforts of its founder, Gavin Wood. cryptocoin.com As we have also reported, DOT is a blockchain that offers inter-operability. He says he sees several strong points with blockchain, including decentralization efforts and a strong developer community. He says two items in particular are special to him in Polkadot. Chief among these is the highest number of active developers, according to the analyst. On the other hand, he says its founder, Gavin Wood, is a very intelligent person. In addition, the analyst uses the following statements:
I think Polkadot has come a long way towards decentralization and has made many strides, and I think that will be really important. Any decent enough decentralized crypto project could have a really tough year next year, and I think Polkadot is heading in that direction. So I guess Polkadot will still be around in the next bull market. However, there are also some obstacles. We definitely need to see more use cases for DOT. We need to see more progress. Obviously, there’s competition from another great project, Cosmos, and all the other tier-1s. But I think Polkadot has some strong fundamentals and I’m optimistic about it in the long run.