Crypto influencer and trader Lark Davis is naming five altcoins that he says have the potential to pull off 100x gains in the current bull cycle.
At the top of Davis’ list is a new decentralized finance (DeFi) protocol that is designed to unlock the value of staked assets.
“The reality is keeping your funds locked up to get 5% a year is a big opportunity cost when you consider how big the gains have been and continue to be in DeFi right now. But Ramp is really, really innovational because it allows you to unlock that staked capital and get the rUSD stablecoin in return. You can then take that, swap it for USDC. You can start farming in DeFi. You can even dump it in something like BlockFi and [get] a pretty safe, stable return, basically dramatically increasing the return from your holdings.”
Davis adds that if Ramp can capture a fraction of the value of staked assets, the token’s price would be set to greatly appreciate.
Number two is Oasis Network (ROSE), a platform that aims to bring privacy and scalability to DeFi.
“Oasis, it’s a blockchain focused on allowing you to be able to control your personal data with complete privacy, including very sensitive stuff like identification numbers and health information. The implications of course for being able to properly manage that private data is incredible…
Right now, most of the market is sleeping on Oasis, but if we see this technology start to get used, start to get adopted, and it’s good technology, so it probably will be, then we could really see this take off to a $1 billion market cap during this bull run.”
The crypto influencer is also looking at projects with upcoming token sales, which he says are back in fashion. Davis names three tokens that he is personally investing in right now.
He reveals that he’s looking at Glitch which is a blockchain-agnostic protocol that aims to facilitate trustless money markets.
“[Glitch] is calling itself a DeFi operating system, so they’re offering high speeds, near-zero fees… Glitch has a profit-sharing model built-in for token holders with 20% of all fees and revenue shared with token stakers. They’re going to be using token wrapping to help really build out their ecosystem quickly and to allow for a lot of coins to be able to exist on their chain.”
Another token sale on Davis’ radar is Paid Network, a Polkadot-based protocol with a focus on the legal system.
“The idea is to reduce costly overheads that are currently experienced when doing any kind of legal documents and contracts and stuff by basically cutting out attorney costs, helping to streamline the process, making dispute resolutions much easier. Doing all that stuff on-chain.
This will be done by introducing smart contract-based borderless agreements and a decentralized reputation system… The token will have broad use cases across DeFi including features such as being able to stake it, but also being able to get access to lending, and insurance, and escrow, and all these different things that the Paid Network will enable.”
The final token sale that Davis is keeping tabs on is e-Money, which has the potential to be a big player in the stablecoin market.
“Unlike basically every other stablecoin provider in existence, they’re actually targeting a broad range of currencies, not just USD. Currently, they have available euros, Swiss francs, the national currencies of Sweden, Denmark, and Norway as well.”
Davis notes that e-Money plans to bring in more currencies including the US dollar and the Japanese yen.
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The post 100x Returns Coming to Certain Altcoins, Says Popular Trader – Here’s What Lark Davis Is Adding to His Portfolio appeared first on Crypto new media.