Crypto Analyst Luke Martin Names Altcoins That Would Outperform Bitcoin (BTC) In 2021
Tobi Loba
3 min read
Luke Martin, a crypto analyst and founder of Venture Coinist, has named a number of digital assets that will outperform the largest cryptocurrency by market cap, Bitcoin (BTC), in 2021.
In a new installment of Profit Maximalist, Martin showcased his bullishness on the nascent and high risk decentralized finance (DeFi) market.
The crypto analyst referenced the quote from Su Zhu, the founder of Three Arrows Capital, while explaining why he opines that capital will not cease from flowing into DeFi.
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Luke Martin noted:
Here’s what he tweeted out, ‘It’s almost as if blue-chip institutional-grade DeFi tokens represent real ownership and participation in emergent peer-to-peer financial networks that may one day be the underpinnings of the global financial system and that they… are starting to wake up and get it, too.’
As in, the masses are starting to get it, not just the early investors, but there’s an entire repricing happening where even the slower-moving crypto investors are starting to realize some of the old projects they supported that are maybe trying to challenge Bitcoin or some of the old platforms they supported that have grand visions but have never actually built anything, that money is going to flow somewhere.
So it either goes back to Bitcoin or if it’s still chasing altcoins, it’s going to go to altcoins with billions of dollars locked up that are actually building things.
The normies are finding it as well, not just the sharp investors. That’s where that additional money comes from and continues to flow into these things.”
Read Also: Crypto Trader Lists the Reasons Why XRP Price Will Never Attain 5 Figures
What Altcoins is Luke Martin Moving money into?
According to Martin, he’s starting to move money into a list of DeFi crypto-assets, as he expects them to outperform Bitcoin (BTC) and to become the best performing digital assets this year.
Below is the list of the DeFi coins as shared by the trader:
- yield aggregator yearn.finance (YFI)
- DeFi trading platform of synthetic assets Synthetix (SNX)
- peer-to-peer leading protocol Aave
- decentralized exchange Uniswap (UNI)
- automated market maker SushiSwap (SUSHI)
- Ethereum-based stablecoin governance token Maker (MKR)
- borrowing and lending protocol Compound (COMP)
- cross-chain liquidity network THORChain (RUNE)
- decentralized exchange Balancer (BAL)
- stablecoin decentralized exchange Curve Finance (CRV)
- Nexus Mutual transferable tokens Wrapped NXM (WNXM)
- inter-blockhain liquidity provider for decentralized applications REN
- decentralized oracle network Chainlink (LINK)
- Chainlink competitor Band Protocol (BAND)
Read Also: Messari Analyst Says Institutional Investors Will Start Buying Ethereum (ETH) in 2021. Here Is Why
DeFi Investors Are Positioning Themselves to Earn a Stake in the Future
According to the crypto trader and investor, those who are currently investing in DeFi are positioning themselves to earn a stake in the future of financial system:
“What’s being built here, in the decentralized world in this DeFi world, is going to be much bigger than the centralized counterparts.
Think about it like Bitcoin versus gold. Which do you think is going to have a higher market cap in 100 years? I think Bitcoin is going to continue to chew into gold’s market cap in the exact same way that DeFi [projects] are going to continue to eat into their centralized counterparts.”
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