Cryptocurrency analyst Jack Niewold made interesting predictions in his latest analysis. He suggested that a trending altcoin would surpass market giants like Aptos, ETC, AVAX and XRP.
“This altcoin will surpass Aptos, ICP, ETC, AVAX and XRP”
According to Jack Niewold’s analysis, Arbitrum (ARB), which attracted a lot of attention with the airdrop in April, can radically change the market capitalization ranking. The crypto analyst claims that Arbitrum will surpass Hedera, Aptos, Stellar, ICP, LEO, Avalanche and XRP:
ARB will inevitably surpass Hedera, Aptos, Stellar, ICP, ETC, LEO Token, Avalanche, and XRP while providing access to the non-liquidable leveraged ETH beta.
$ARB will inevitably flip Hedera, Aptos, Stellar, ICP, ETC, LEO Token, Avalanche, and XRP, all while providing exposure to unliquidatable leveraged ETH beta
but you sold the airdrop
— Jack Niewold 🫡 (@JackNiewold) April 24, 2023
The catalyst behind Arbitrum is based on Vertex beta testing, which began on March 8. Crypto trading protocol Vertex has announced that it has implemented contracts on its Arbitrum network to attract institutional investors. On March 8, the protocol began beta testing with a select group of institutional investors for spot and derivatives trading.
1/ Vertex Launches API-only Beta on Mainnet ⚡
Vertex’s contracts are now deployed on @arbitrum mainnet! The API-only Beta marks the first phase of the launch sequence – enabling automated traders to trade on Vertex.
It will run for several weeks before the mainnet launch.
— Vertex 🏔 (@vertex_protocol) March 8, 2023
According to Niewold, ARB provides a more economical price than other coins in recent days when Ethereum transaction fees have increased. It also started offering leveraged ETH transactions with Vertex on March 8. With this functionality, Niewold stated that ARB will be on the rise in the cryptocurrency market.
How strong is Arbitrum against its competitors?
The crypto community continues to debate whether Arbitrum (ARB) can surpass XRP and Aptos. Some commentators argue that Arbitrum does not offer significant value to investors. Others argue that Arbitrum will outperform in the shadow of higher fees on the Ethereum network.
Arbitrum is a Layer 2 solution running on the Ethereum network. It improves the performance of the Ethereum network by offering faster, more economical and more scalable transactions. The platform uses Optimistic Rollups technology that allows off-chain computing and storage while keeping Ethereum secure.
However, altcoins like XRP and Aptos are trying to differentiate themselves by offering unique value propositions. XRP in particular is the industry leader in instant, low-cost and secure cross-border payments. On the other hand, Aptos provides the most efficient infrastructure for Web 3.0 applications.
It is already clear that Arbitrum is gaining momentum and easing congestion on the Ethereum network. But it is not yet certain whether it will be able to surpass XRP and Aptos. It is thought that Arbitrum could perform better especially in the shadow of the high fees available on the Ethereum network.
NFT2.0 is coming to Arbitrum
NFT 2.0 are NFTs that have additional features in addition to the standard features (identity and metadata). Users can also select the required features of the NFT during the mint. Arbitrum’s adoption of this technology was realized with the Envelop integration.
Finally, let’s mention that Arbitrum’s developer activity is dropping rapidly. cryptocoin.comAccording to the reports we have cited, the number of active developers of the project remains stagnant.
