The crypto market has gained sideways momentum for a while due to several events fueling uncertainties. However, analyst Lark Davis thinks the 5 altcoins have great potential. Let’s take a look at Davis’ list of 10x-titled altcoins, keeping in mind that the estimates are not precise.
Moonbeam (GLMR), one of the winners of the 5 altcoins
Polkadot auctions, that could make 10x from Lark Davis’ list, is now seeing an increase in DeFi applications and as a result TVL. The platform has managed to attract several top investors. These include Binance Labs, Coinbase Ventures, and Fenbushi Capital. Additionally, a significant number of crypto projects are built on Moonbeam, including the popular Curve Finance. Others are native Moonbeam apps Stella Swap and Solarbeam. Davis says he prefers Moonbeam for staking and holds onto his rewards believing in its potential to increase 10x.
Although relatively unknown, Davis praises the Oasis Network (ROSE) upcoming projects for its increased adoption, privacy technology and growth in market value. Blockchain has great support from Andreessen Horowitz (a16z), Pantera, and Polychain Capital, to name a few. Recently, the altcoin has raised $200 million, which it plans to use to support applications and growth in its ecosystem. For these reasons, Davis says the ROSE price can easily increase its market value by 10 times, just like Moonbeam.
Like Moonbeam, Acala (ACA) has managed a sol on the Polkadot Relay Chain and now plans to become a major DApps player. Acala has launched a local decentralized stablecoin aUSD, which aims to become the main stablecoin of the Polkadot ecosystem. So far, the platform has raised $250 million to fund this goal. Also, Acala can integrate with a wide variety of Ethereum applications. More recently, the network has teamed up with Terra’s largest implementation, Anchor. Arrington Capital and Polychain Capital enjoy strong support among others.
Finally, Avalanche’s largest exchange, Trader Joe’s, now allows users to stake JOE tokens for rewards in USDC. Locked tokens also increase farming rewards. More importantly, Davis reiterates the crypto mantra to “do your own research.” Investing is personal and risky and therefore should be well informed.
Bitcoin (BTC) and Ethereum (ETH)
Lark Davis, whose analysis we share as Kriptokoin.com, regularly buys BTC and ETH despite their prices due to their dominant position in the crypto market. This trend of the analyst is on the long-term banking side over progressive growth.
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