Lark Davis, a cryptocurrency analyst and trader, has stated the reason why Cardano (ADA) and Ethereum (ETH) are the biggest players to watch in the altcoins’ market in 2021.
In a new video, the trader mentioned a new smart contract platform he referred to as “dark horse”, which he thinks could print a surprising performance in the current crypto bull cycle.
Cardano’s Launch of Staking Rewards In 2020 Is Significant
One of the top smart contract platforms Lark Davis is bullish on is Cardano (ADA). He said the official launch of staking rewards on the Cardano network in 2020 has given a lot of investors confidence in the cryptocurrency:
“If Cardano finally delivers on its big vision, then it will be a force to be reckoned with. Smart contracts are currently on schedule to be rolled out fully on the chain in Q1 of 2021. This is going to be really big. It’s finally going to enable Cardano to build really just a strong ecosystem.”
The Rise of Ethereum As a Smart Contract Platform Could Be Unstoppable
According to Davis, the big cap cryptocurrency, Ethereum (ETH), known as the most popular smart contract platform, is one of the top players to watch in the bull cycle expected to extend further into 2021:
“Now that we have Ethereum 2.0 Genesis launched in December, I just feel like nothing can stop the rise of Ethereum to just continue to absolutely dominate the smart contract platform space. It is the undisputed home of DeFi with the majority of major protocols built on Ethereum. It also settled more value on chain than Bitcoin in 2020. It’ll probably do that again in 2021.”
Elrond (EGLD), the ‘Dark Horse’ of 2021
According to the crypto trader, smart contract platform Elrond (EGLD), which currently sits at 50th position in the market, is the ‘dark horse’ for this altseason.
In the video, Davis highlights Elrond’s strong tokenomics and several partnerships he thinks are the reasons behind the hype surrounding the smart contract platform:
“Elrond is basically everything ETH 2.0 wants to be, but today. They even had a massive shakeup to the tokenomics with a push for Bitcoin-like scarcity and Ethereum-like functionality… I think this is going to be an absolute star of the bull run so make sure to have this one on your radar…
“Elrond has more partners than a lot of these chains that have been around for three or four years have. It’s incredible, the ecosystem they’ve already built out… Elrond has been able to create this unbelievable exosystem really only behind Ethereum or Polkadot.
“Now this is a big step in terms of crypto wallet technology. So what the Maiar wallet is doing is they’re actually creating a unique and secure account for you registered on teh blockchain and they do that using a cryptographic hash of the user’s phone number. So this is an interesting extra layer of security and technology for your crypto wallet.”