Saturday, February 27, 2021

Crypto Trader Lark Davis Says These Six Altcoins Built On Ethereum Are About To Explode

Popular cryptocurrency analyst and trader, Lark Davis, is displaying bullishness on a number of altcoins built on the largest smart contract platform, Ethereum.

In a new video, Davis says he’s highlighting projects that are capable of standing the test of time due to their well-established track records and good cash flow.

Lark Davis noted:

“These so-called decentralized finance (DeFi) bluechips could also be some of the best holds during the bull run in terms of actually giving those higher gains while also being relatively safer plays compared to a lot of the smaller cap cryptocurrencies in the market which might give higher gains but are also higher risk.” 

Read Also: Coinbase CEO Explains Issue behind Apple Restricting Users from Earning Money Using Crypto

First Pick: Aave (AAVE)

The first project on the crypto trader Lark Davis’s list is the lending and borrowing protocol Aave (AAVE). According to Davis, the cryptocurrency already has about $3 billion of total value locked in the platform and likely to keep getting bigger.

“This is just the beginning for Aave, since the technology behind Aave is actually addressing a multi-trillion dollar market. However, Aave goes way beyond just simple lending and borrowing services, it is also the pioneer in technology like flash loans, it has recently introduced a credit delegation, they’ve got lots of other stuff in the pipeline coming

 Aave is even working to crack into the mortgage market, with tokenized mortgages being able to be used as collateral for loans.”

Read Also: Vitalik Buterin Is Playing a Long Game, I’m Constantly Impressed with Him –Michael Novogratz

Second and Third Pick: Uniswap (UNI) and Synthetix (SNX)

The second crypto-asset the trader is bullish on is Uniswap (UNI). The reason he’s bullish on UNI is that the decentralized exchange Uniswap has a higher volume than Coinbase on some days and has been behind projects that launch their tokens without the involvement of centralized exchanges.

The third asset is Synthetix (SNX), the derivatives liquidity protocol that is aiming at the multi-trillion-dollar derivatives market.

According to Davis, some new projects are starting to adopt the use of Synthetix protocol. He also referenced the upcoming upgrades of the project as a bullish catalyst, expecting the project to remain the leader in its chain for the foreseeable future.

Read Also: bZx Loses Over $8 Million of User Deposits In Another Major Hack

Fourth Pick: Yearn.Finance (YFI)

The fourth altcoin on Davis’s list is the decentralized finance platform Yearn.Finance (YFI), which is transforming into multi-purpose lending and insurance platform that makes token holders receive a portion of fees gathered on the platform:

“The YFI governance token is famous for being ridiculously expensive, but the token holders receive a percentage of fees made to the platform… now it’s too early to say how lucrative holding the YFI tokens will be in the long run but the market is currently betting that they will be worth a lot and that the cash flow will be significant.”

Fifth and Sixth Pick: Kyber Network (KNC) and Maker (MKR)

The fifth altcoin on the crypto trader’s list is the liquidity provider Kyber Network (KNC). He said that the platform is helping to connect the dots in DeFi.

Davis further noted that Kyber holders also receive a portion of fees made on the platform. He, however, warns that users must hold a lot of KNC to make the benefit worthwhile, but he thinks that the diminishing supply of the digital asset is a bullish catalyst.

Read Also: A New Crypto That Surged By 10,000% a Few Days After It Launched

The last on the list is Maker (MKR). Davis labeled the project as “OG of DeFi protocols.” According to the trader, Maker is the number one DeFi protocol in terms of total value. He thinks MKR is poised to print an outstanding performance in the current bull cycle, considering lots of features that are currently cooking.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

Related Articles

Latest Articles