Recently, crypto analyst and influencer Tyler Swope took a closer at an “undervalued” altcoin that he believes will be a top 10 coin (by market cap) soon.
In a YouTube video released last Tuesday (March 16), the host of the “Chico Crypto” YouTube channel, explained why he is so bullish on Energy Web Chain, which claims to be “the world’s first open-source, enterprise blockchain platform tailored to the energy sector.”
Energy Web Chain was launched in 2019 by Energy Web (EW), which is “a global nonprofit organization accelerating a low-carbon, customer-centric electricity system by unleashing the potential of open-source, decentralized technologies.” EW is focused on “building core infrastructure and shared technology, speeding adoption of commercial solutions, and fostering a community of practice.”
Here is how EW introduces EW Chain:
“The EW Chain is a public blockchain network open to all utilities, users, and devices. With a virtual machine identical to public Ethereum, developers can begin writing smart contracts and dApps with little to no additional learning curve. The enterprise-grade EW Chain boasts high scalability, low transaction costs, and lean energy consumption, thanks to its permissioned Proof-of-Authority consensus.“
The Energy Web Token (EWT) is the native utility token of EW Chain. EW says that EWT “protects the network against misbehavior, compensates validators via transaction fees and block validation awards, and can be used to pay for middleware services that streamline and enhance dApps.”
Back on February 14, when EWT was trading around $13, crypto analyst Austin Arnold, the host of the “Altcoin Daily” YouTube channel, released a video in which he named five cryptoassets with the potential to increase 50x in value, and one of those was EWT.
The Altcoin Daily host said companies would find value in EW Chain as a way to “decarbonize” international supply chains, and mentioned that one of those companies is German manufacturer ASA Automation.
He then added:
“Who is ASA Automation? ‘ASA Automation is a leading global automation and robotics manufacturer that supplies equipment and solutions multi-national companies including Walmart, Nestle, Volkswagen, and Pfizer.”
Currently (as of 19:48 UTC on March 23), EWT is trading around $16.43, has a market of $543.85 million, and is the 119th most valuable cryptoasset by market cap.
According to data by CryptoCompare, in the year-to-date period, EWT is up 182.54% vs USD.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.