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Next Big Thing In Crypto: Analyst Spotlights Top 2 Altcoins For Web 3.0

Crypto analyst Michaël van de Poppe recently cast a spotlight on two altcoins poised to significantly impact the Web 3.0 ecosystem. In a detailed exposition shared on X (formerly Twitter), Van de Poppe introduced “modular blockchains” and “DePin” as emerging concepts set to redefine the crypto landscape.

Emphasizing the need for tangible use cases, Van de Poppe stated, “I’m advocating for investing into projects that fulfill actual use cases. Hence why I’m not that much focused on projects within the Gaming, Metaverse, NFT or Meme space, […] I’d rather want to focus on projects that have an actual use case within the financial Web 3.0 ecosystem.”

Crypto + Web 3.0: Modular Blockchains

The conversation around scalability and efficiency in blockchain has led to the emergence of modular blockchains, according to Van de Poppe. He described modular blockchains as “a solution from the previous cycle,” aiming to address the high transaction fees and scalability challenges that have hampered platforms like Ethereum.

“Remember the high gas fees we were paying during the bull run on Ethereum? Yes, that’s where Layer 2’s and modular blockchains started to come from as a potential solution for this problem,” Van de Poppe explained. By splitting traditional processes handled by a single layer, modular blockchains promise a substantial improvement in transactions per second, addressing the core scalability trilemma of decentralization, scalability, and security without compromising on any.

Spotlight On TIA And CQT

Among the projects leading the charge in this new era, Celestia (TIA) and Covalent (CQT) emerged as favorites of Van de Poppe.

TIA, according to Van de Poppe, stands out as a frontrunner in the modular blockchain space. “One of my favorites is TIA, which enhances the potential of modular blockchains,” Van de Poppe states, underscoring the project’s ambition to redefine scalability and efficiency in blockchain technology.

Covalent, in particular, is praised for its comprehensive toolkits for developers, which include Block Explorer Kits named GoldRush and analytics dashboards like Increment. “Covalent aims to build on the DePIN ecosystem, which means decentralized physical infrastructure networks, essentially laying the foundational layer of the entire financial Web 3.0 Ecosystem,” Van de Poppe remarked.

Delving deeper into Covalent’s contributions, Van de Poppe highlighted the project’s ambition to secure a structured dataset from over 215 blockchains and integrate AI through the analysis of 100 billion transactions. This integration is aimed at fostering AI consumption, training, and product development.

“Promoting decentralized indexing, Covalent enhances network resilience and reduces reliance on central entities,” he noted, underscoring the project’s commitment to decentralization. Furthermore, the activation of a Revenue Fee Switch connected to the Premium API since February signifies Covalent’s economic model’s maturity and its efforts to achieve complete Ethereum Virtual Machine (EVM) state data retrievability.

Price Analyses

The CQT price rose above the 20- and 100-week EMA in mid-February, generating bullish momentum. The price is now targeting the 0.236 Fibonacci retracement level at $0.53 on the 1-week chart. However, it is worth noting that the price is still around 80% away from its all-time high despite the bullish sentiment in the crypto market.

CQTUSD

For Celestia (TIA), the situation looks quite different. The price is only 20% below its all-time high and is trading above the 0.236 Fibonacci retracement level on the 1-day chart.

TIA price

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Could Legacy Brand RadioShack Redefine Itself Through… DeFi?

RadioShack was a technology hallmark in the late 1990s. Big box stores dominated the emergence of new technological innovations, when personal computers, cell phones, printers, and the like all started to hit the market and were host to a fast race to be a leader in innovation.

However, in recent years, big box presence has dwindled, and RadioShack has been largely seen as a legacy brand that failed to shift to consumer demand – investing in brick and mortar without optimizing their online shopping experience.

Could the century-old consumer goods brand keep it’s heart pumping through… DeFi?

RadioShack Is Now A DeFi Product?

RadioShack’s website is now front and center an announcement for a new DeFi protocol, which will host the RADIO token. A waitlist is available for early notifications, Discord and Telegram communities are established, and yes – there’s a RadioShack DeFi whitepaper on Github. The platform will look to infuse the RADIO token as a ‘hub’ of essentially a hub-and-spoke model that takes a unique approach relative to traditional DEX’s:

Oh, and you can still shop online for your technology hardware needs too.

It’s the latest unique and unexpected twist in crypto, as DeFi continues to have a strong performance to close out the year. Protocols that have a major emphasis on DeFi products, including the likes of Avalanche (AVAX) and Terra (LUNA) have entered the top 10 in crypto market caps recently.

According to the RadioShack whitepaper, Polygon (MATIC) will be a chain that will look to integrate in it’s ‘Starfish Topology’. | Source: MATIC-USD on TradingView.com

Related Reading | Community Voted, Why Uniswap Will Be Deployed On Polygon

Looking Ahead

Yes, brand engagement in crypto (most notably NFTs) has been ramping up immensely in recent months. However, this move admittedly wasn’t on our shortlist when 2021 was getting started. It’s a bizarre brand entry from a company image that was basically on life support.

According to the refreshed RadioShack website, the endeavor is being spearheaded by long-time social media personality Tai Lopez and business partner Alex Mehr. The two will start off the platform with a swapping feature. According to the whitepaper, the platform will look to leverage retail ecommerce ventures (and still lists platform partners in the traditional retail space, including Pier 1, Linens N Things, and Stein Mart) and will bring in DeFi protocol Atlas USV for protocol liquidity.

Can’t say I expected to see a DeFi protocol that had Pier 1 as a listed partner anytime soon, but again – nothing should really surprise us in this space anymore. Who knows, maybe Blockbuster NFTs and Bed Bath ‘N Beyond blockchain loyalty reward programs are on the horizon.

At this point in crypto, anything is possible.

Related Reading | To Ban Or Not To Ban? Russia Concerned About Growing Crypto Transactions

Featured image from Fortune.com, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

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Meet Web3.0: The New Internet, Blockchain Edition?

Web3 (also known as Web 3.0) is the idea of a version of the Internet that is decentralized and based on public blockchains. The concept has gained immense popularity in 2020 and 2021, with interest from cryptocurrency enthusiasts and investments from high-profile technologists and companies.

Now we get to see how things unfold, and what to expect on our journey in the new frontier.

Related Reading \ Refinable Launches Gaming Initiative and Sets Aside $150,000 to Support NFT Gaming

X Out The Middle Man

Web 3.0 has the potential to change how we use the internet. In this new era, navigating the web no longer means logging onto the likes of Facebook, Google or Twitter to connect with people. The web has been seen as a way to democratize access to information, but there weren’t always great ways of navigating it. It was pretty disorganized and overwhelming, and not what it is today with the endless amount of information at our hands.

What we know and describe as Web 2.0 arrived in about the mid-2000s. Platforms like Google, Amazon, Facebook and Twitter started to emerge and laid out a new way for the Internet by making it easy to connect and transact online with anyone at anytime.

Bitcoin: Latest action from the top coin on the blockchain. | BTC-USD on TradingView.com

How Will The Blockchain Play It’s Part

In Web3, data is stored in multiple copies of a P2P network. The management rules are formalized in the protocol and secured by majority consensus of all network participants, who are incentivized with a native network token for their activities. The Blockchain will be the backbone of the Web3, as it redefines the data structures in the backend of the Web. It introduces a governance layer that runs on top of the current Internet, that allows for two people who do not know or trust each other to reach and settle agreements over the Web.

Bitcoin and similar blockchains introduced a method for each participant in a network to hold and transfer value in a digitally native format, without the need for trusted intermediaries. Web 3.0 will likely be at least somewhat decentralized, and built upon a system known as the blockchain, which already undergirds Bitcoin and other cryptocurrencies. Imagine it as a type of bookkeeping where many computers at once host data that’s searchable by anyone. It’s operated by users collectively, rather than a corporation. Instead of platforms, there will be DAOs. People are given “tokens” for participating. The tokens can be used to vote on decisions, and even accrue real value. These are some of the potential traits of Web 3.0 in full form.

This is great for making transactions and holding onto different wallets without having to worry about being tracked. That, on top of personal data constantly going to Google, Facebook and the like, means that Web 3.0 can provide mass potential, and still be the shade needed for transactions to occur with privacy. Until then, we will learn more about Web 3.0 as time goes on.

Related Reading \ El Salvador Announces World’s First Bitcoin City, Backed By $1B Bitcoin Bonds