Top analyst predicts 6 altcoins with potential to rise 10x this year amid the current volatility
In a recent video, widely followed crypto strategist Lark Davis reveals 6 altcoins with the potential to rise 10x in 2021 amid the turbulence in the cryptocurrency market over the last few days.
Injective Protocol (INJ)
The first coin listed on Davis’s radar is Injective Protocol. According to the trader, Injective Protocol project is a revolutionary idea that aims to make currency exchanges completely decentralized, public-operated networks.
“What this means is the exchange is solely operated by people who hold INJ tokens. There is no centralized governing body that enforces control over the development of the project”.
In addition, the crypto KOL explains why INJ is a good investment for this year:
“’m bringing this coin up because it is at a bit of a discount right now. It’s down by about a third in its price from its all-time high. But also Injective Protocol is going to be going on their mainnet soon…It is where the project will be going big”.
Next on the list is QuickSwap (QUICK). QuickSwap is a fork of the originator of Automated Market Makers on Polygon Network in the now rapidly expanding DeFi sector of the Cryptocurrency industry, Uniswap.
“Both, of course, are magical. Only, rather than settling for the magic of unicorns, they’ve opted for the magic of dragons. It’s a much faster kind of magic, currently only available in a land far far away, known by the locals as Layer 2″.
At the time of writing, the market cap of QuickSwap is just around 119 million USD, which is extremely undervalued, based on Davis’s analysis.
“I think it’s actually an undervalued cryptocurrency right now because the polygon network itself has been going crazy”.
Linear Finance (LINA)
Third on the list is Linear Finance (LINA). Linear Finance is a fairly new blockchain project that is trying to fix some major issues in the DeFi ecosystem. These issues are front-running liquidity and expensive gas fees.
“Linear is a decentralized delta-one asset protocol capable of instantly creating synthetic assets with unlimited liquidity. The project opens traditional assets like commodities, forex, market indices and other thematic sectors to cryptocurrency users”.
Similar to QuickSwap, Davis also points out that the altcoin is currently selling at a bargain.
“Its price is actually down around 77% from its all-time high, which is a pretty dramatic fall in price for something that has been delivering on technology, has users, has been actually you know surviving and building and doing things. It is an irrationally oversold asset right now”.
The next altcoin is Bancor (BNT) with the huge potential to appreciate 10 times. Bancor consists of a series of smart contracts that manage the on-chain conversion of tokens.
“The protocol makes it effortless and quick to convert tokens without having to go through an exchange. The protocol’s smart contracts manage the liquidity pools that connect various tokens available in the network”.
“The product that they’ve delivered is really really cool. So what they’ve been able to solve is the impermanent loss problems. So they allow you to do single-sided liquidity provision with no impermanent loss”.
Epik (EPK) is the next crypto asset on Davis’s radar. As the analyst says, the protocol will conduct its token sale sale soon and it is definitely a high potential investment due to the niche market it is targeting which is gaming.
“Through decentralized storage technology (IPFS), decentralized autonomous organization (DAO) and token economy model (Token Economy), EpiK organizes and inspires global community members to transform knowledge in various fields into a knowledge graph”.
According the the crypto KOL, the thing that is interesting about EpiK is that there is not really any direct competitors in the crypto space to what they are trying to do.
“They’re tapping specifically into the gaming market working with these massive brands. They’re tapping into a userbase here of a hundred million potential users and gamers”.
Last on the list is Mercurial (MER). The project is currently going through its token sale phase and it will be listing very soon.
“Mercury is an open source communication protocol designed on a blockchain network to provide enhanced user privacy and security of their data at a nominal cost”.
Mercury uses the Ethereum blockchain network to store all data on a decentralized system that is public and transparent but also anonymous. It makes use of the smart contracts feature. This way, users can maintain their privacy and keep the data stored safely on an immutable network.
“So if you’re looking to get exposure to an early mover in the Solana ecosystem the Mercurial Finance is definitely one to be checking out”, Davis says.
Disclaimer: Opinions expressed at AZCoin News are not investment advice. Investors should do their due diligence before making any high-risk investments in cryptocurrencies. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. AZCoin News does not recommend the buying or selling of any cryptocurrencies.
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