High-profile crypto trader Lark Davis shares with his subscribers 5 crypto assets that have solid potential to 10x by the end of the year.
Trader Joe (JOE)
First on the list is Trader Joe (JOE), the biggest decentralized exchange on Avalanche. The trader highlights that Avalanche is an ecosystem with a lot of potential and Trader Joe is currently an outstanding AMM DEX project on Avalanche (AVAX).
“Although it has only recently come into operation of 4 months, Trader Joe has surpassed Pangolin (PNG) to become the AMM DEX with the largest TVL in the Avalanche ecosystem when hitting 500 million dollars in TVL in August.”
In terms of its upside potential, Davis points out that with a market cap of just $280 million at the time of the recording, Trader Joe is “still a baby” compared to the 13 billion dollars of Uniswap or 4.5 billion dollars of PancakeSwap.
Ramp (RAMP)
Next on the list is Ramp (RAMP), a decentralized protocol that intends to boost DeFi adoption by allowing non-Ethereum users to stake tokens on ETH platforms; at the same time, Ethereum users can interact with the RAMP protocol and increase their yields.
With just a $123M market cap, the trader shares his belief that Ramp would pump 10x and become at least $1B market cap altcoin because of the upcoming Ramp 2.0.
“We’re going to see new chain expansions so pretty soon. Ramp is going to integrate Solana as well as Polkadot. That is pretty damn big… A new chain means new users, new liquidity, new options, new DeFi integrations. They’re also enabling the minting of the rUSD stablecoin on the Ethereum network,”
Bridge Mutual (BMI)
Bridge Mutual (BMI) is a decentralized, discretionary insurance platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide insurance coverage, decide on insurance payouts, and get compensated for taking part in the ecosystem.
At the time of the recording, BMI is having a $30M market cap. Davis highlights that with the upcoming price catalyst for BMI, the current market cap implies that the coin is still undervalued.
“Bridge Mutual version 2 is coming. One of the most important and biggest things that gets me excited is that they’re integrating with Solana very soon. That is very big because Solana is the fourth or fifth biggest cryptocurrency. The Defi scene on Solana is exploding. We’re seeing all kinds of new protocols coming into Solana. However, we don’t have any insurance on Solana right now. One of the reasons I have been a bit hesitant to put more money into some of these Solana pools is the lack of insurance. Now Bridge Mutual is expanding to Solana so that is a massive potential catalyst right there.”
Portal Defi (PORTAL)
Portal DeFi is a self-hosted Layer 2 wallet and true cross-chain DEX on Bitcoin that makes atomic swaps between Bitcoin and other digital assets fast, secure, and private.
“This is a layer 2 decentralized finance platform for the Bitcoin blockchain which of course is something very unique. You don’t see a lot of DeFi being built out on top of bitcoin but I think there’s a massive demand for bitcoin-based decentralized finance products.”
Besides, it is highlighted that the project has recently closing of an $8.5 million funding round to build a self-sovereign and uncensorable DeFi on Bitcoin. The funding round saw participation from Coinbase Ventures, ArringtonXRP Capital, OKEx, Republic.co, Shima Ventures, etc.
Ardana (DANA)
Last on the list is Ardana (DANA), a decentralized stablecoin hub that will bring the necessary DeFi primitives needed to bootstrap and maintain any economy to Cardano. Ardana offers an on-chain asset-backed stablecoin and a decentralized stable-asset DEX.
“It’s going to bring in borrowing, allowing you to borrow stablecoins against locked collateral. Let’s say you have $10,000 Cardano that you’re staking but you actually need some cash. You can take your Cardano, bring them over here, use them as collateral to borrow some Ardana stablecoins, which is obviously very cool,”
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