Crypto analyst Michael van de Poppe recently highlighted two altcoins that are poised to have a major impact on the Web 3.0 ecosystem.In detail exposition Shared on X (formerly Twitter), Van de Poppe introduced “Modular Blockchain” and “DePin” as new concepts that will redefine the world of cryptocurrencies.
Emphasizing the need for specific use cases, Van de Poppe said: Hence the reason why I don't focus too much on projects within the gaming, metaverse, NFT, or meme space. […] I would rather focus on projects that have real use cases within the financial Web 3.0 ecosystem. ”
Crypto + Web 3.0: Modular Blockchain
According to Van de Poppe, discussions around blockchain scalability and efficiency led to the emergence of modular blockchains. He described modular blockchain as a “solution from the previous cycle” that aims to address the high transaction fees and scalability challenges that have hampered platforms such as Ethereum.
“Remember those high gas fees we were paying during the Ethereum bull market? Yes, that’s where Layer 2 and modular blockchain started to emerge as potential solutions to this problem,” Van said. De Poppe explained. Modular blockchains promise significant increases in the number of transactions per second by breaking up traditional processes handled in a single layer, and aligning with the core scalability trilemma of decentralization, scalability, and security. We deal with it without compromise.
Spotlight on TIA and CQT
Among the projects leading this new era, Celestia (TIA) and Covalent (CQT) have emerged as Van de Poppe's favorites.
According to Van de Poppe, TIA stands out as a frontrunner in the modular blockchain space. “One of my favorites of his is his TIA, which is modular and increases the potential of his blockchain,” said Van de Poppe. This highlights the ambition of the project.
Covalent is particularly praised for its comprehensive toolkits for developers, including a block explorer kit called GoldRush and analytical dashboards like Increment. “Covalent aims to build on the DePIN ecosystem, which means a decentralized physical infrastructure network, essentially building the foundation layer of the entire Financial Web 3.0 ecosystem,” Van de Poppe said.
Delving deeper into Covalent's contributions, Van de Poppe highlighted the project's ambition to secure structured datasets from over 215 blockchains and integrate AI through analysis of 100 billion transactions. This integration aims to accelerate the use of AI, training, and product development.
“By facilitating decentralized indexing, Covalent strengthens network resilience and reduces dependence on central authorities,” he said, highlighting the project's decentralization efforts. Additionally, since February, the activation of a revenue fee switch connected to a premium API signals the maturation of Covalent’s economic model and its efforts to achieve full Ethereum Virtual Machine (EVM) state data retrieval potential. .
price analysis
CQT price broke above the 20-week and 100-week EMA in mid-February, creating bullish momentum. Price is currently targeting the 0.236 Fibonacci retracement level at $0.53 on the 1-week chart. However, it is worth noting that despite the bullish sentiment in the crypto market, the price is still about 80% off its all-time high.
For Celestia (TIA), the situation looks quite different. The price is just 20% below its all-time high and is trading above the 0.236 Fibonacci retracement level on the daily chart.
Featured image from Shutterstock, chart from TradingView.com
