Popular crypto trader Lark Davis is naming five altcoins that he thinks can print huge gains amid sustained fundamental developments.
Davis tells his 448,000 YouTube subscribers that he’s looking at EGLD, the native asset for the high throughput blockchain project Elrond. The analyst cites the news that Elrond’s Maiar decentralized exchange (DEX) is launching next month.ADVERTISEMENT
“Elrond is basically Ethereum 2.0. But now, its got all the beautiful technology, and this is a coin that has been just continuing to get attention and grow community, and they are on the verge of launching their technology into the wild and actually having a DeFi (decentralized finance) ecosystem and a token ecosystem and launch pads and all that stuff starting.”
According to Davis, the Maiar DEX signals the beginning of a good DeFi ecosystem for Elrond.
Next on Davis’ list is DOT, the native token for the interoperable blockchain Polkadot. The trader points to the fact that Polkadot’s parachain auctions are scheduled to start on November 11th.
“We’re going to see a lot of money flowing into these parachain auctions.”
The parachain auctions allow participants to place bids on a project they wish to support in order to secure one of Polkadot’s limited number of parachain slots.
Davis is also keeping a close watch on MOVR, the utility token of smart contract protocol Moon River Network. The analyst says there’s an “incredibly big community” behind the project.
He also notes that automated market maker SushiSwap is about to be integrated with Moonriver.
“We’re starting to see a lot of DeFi protocols and stuff like that come on board to Moonriver. So this is basically Ethereum, but on Kusama…. except that it’s not even at a $1 billion market cap yet. Think about how crazy that is.”ADVERTISEMENT
Next on Davis’ list is WILD, the native token for Wilder World, a decentralized metaverse project built on Ethereum (ETH).
Says the trader,
“This thing, I’m telling you – it’s going to have a $1 billion market cap… potentially a multi-billion dollar market cap coin when you actually look into the graphics and the metaverse and what’s being built here. It is very nice looking.”
The last coin on the trader’s radar is LUNA, the native token for the smart contract platform Terra. The analyst predicts LUNA will surge to more than $100, citing reports that more than 160 projects will launch on Terra in the near future.