Popular crypto influencer and trader Tyler Swope has given his list of top 10 altcoin picks that could benefit from a market hype cycle.
Swope, who runs the YouTube channel Chico Crypto, predicted an altcoin hype season was about to begin in a video published January 8.
According to the trader, the layer-two financial product Matic Network (MATIC) has managed to generate $54 million in trading volume since launching in October 2020, drawing significant attention to the platform.
Swope also highlighted the decentralized platform xDai, which uses a stablecoin to execute payments.
They are decentralized perpetual contracts. Now the mainnet for Perp, it only launched three weeks ago… Just in two days, January 4th and 3rd, it did $29 million alone in volume and the rest of the day since launch about $80 million. That is nearly $110 million as of January 4th.
The Chico Crypto host was high on the outlook for PowerPool (CVP) and prediction market platform Omen, which he said both had the potential to compete with larger products in the future.
Swope tabbed Loopring, Starkware and Matter Labs as three protocols using the zk rollup layer-two solution, which is capable of bundling hundreds of transactions into a single transfer.
He called Matter Labs the furthest along of the three in terms of smart contract execution, but noted the project had gone quiet in recent months.
Swope rounded out his top ten hyped altcoins with ethereum-based Optimism, Arbitrum and mainnet platform Fuel Labs.
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