Altcoin Daily Says Fundamental Factors Will Fuel The Ethereum Explosion And Is Investigating Metaverse Altcoins
A crypto-focused YouTube channel with over 1 million followers is predicting an Ethereum (ETH) explosion this weekend.
In a new video, Altcoin Daily co-host Austin sets out two fundamental factors that he says will drive the price of the leading smart contract platform even higher.
First up, Austin notes that large film studios are entering the non-fungible token (NFT) market, particularly via the Ethereum blockchain.
“Huge green flag if you are an ETH-Hodler” [long-time holder].
Warner Bros is releasing Red Pill NFT avatars for their new movie “The Matrix Resurrections”.
Think about it: this is the first time in history that we have large film studios encouraging their audiences to download an Ethereum wallet [and] get a bit of ETH, all thanks to NFTs. “
Even more urgent than movie-themed NFTs, Austin explains a primary reason Ethereum could skyrocket in the next 24 hours.
“On Friday, Ethereum option contracts worth over $ 540 million expire. Well, luckily, these contracts favor traders with ETH targets at $ 5,000.
In general, when options contracts expire, in particular [at] With these large amounts, it is always wise to expect volatility in both directions.
The good news is that the cops seem to be winning on this one. “
The host continues:
“What that means is that while many, many people seemed to have bet against the Ethereum price because the price has shown such strength in the past few weeks, such a rally, the bears look like they’re about to be wiped out. “.”
Ethereum is trading at $ 4,496 at the time of writing, according to CoinGecko.
Next, Altcoin Daily sets out specific reasons for the enthusiasm of the owners of the decentralized video streaming platform Theta Network (THETA).
“Theta Network welcomes Fuse.TV as a new media partner.
How that affects you is that [actress and singer Amara La Negra] Now joins the list of other notable celebrities who choose Theta.
If you hold theta this is a big news day for you. ”
At the time of writing, THETA is trading at $ 7.92 per CoinGecko.
Finally, Austin looks at Enjin Coin (ENJ), the cryptocurrency of the Enjin metaver. Enjin recently announced a fund designed to encourage developers to take advantage of their Metaverse blockchain, which he believes will only help the platform grow.
“Enjin wants to decentralize its Metaverse with its new $ 100 million fund.
The Efinity Metaverse Fund will focus on seed capital investments for projects building on Efinity.
Efinity in Enjin’s much more scalable, but much more centralized blockchain for metaverse / crypto games. “
ENJ is trading at $ 2.98 at the time of writing.
Check price promotion
Don’t Miss A Beat – Subscribe to crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Surf the daily Hodl mix
Check the latest headlines
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and that you are responsible for any losses. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Selected image: Shutterstock / Color4260