Trader Jay Freed unveils 2 altcoins to invest in during this dip
High-profile trader Jay Freed from A Chain of Blocks unveils with his subscribers the 2 altcoins that he is stockpiling into his portfolio during the current dip.
Trader Joe (JOE)
First on the list is Trader Joe (JOE), a decentralized trading platform native to the Avalanche blockchain and is rapidly expanding its ecosystem. At the time of the recording, JOE was trading at $2.95, almost 15% down in the last 24-hour. The current market cap sits only at $357 million dollars.
“This is just like PancakeSwap or UniSwap. So you can imagine if something like Trader Joe with a market cap right now of just $300 million dollars to run up into that billion-dollar range like UniSwap, it would get into the top 50 or top 30.”
Recently, DEX Trader Joe has announced the launch of Banker Joe, new lending and borrowing platform powered by Chainlink price feeds.
“With that integration, users can leverage Banker Joe to earn interest on their assets by loaning them to others via non-custodial pools, or by depositing their own assets as collateral to borrow more assets.”
Another altcoin on the trader’s list is Polygon (MATIC). At the time of the recording, MATIC was trading at $1.54, almost 20% down from the last 14 days.
“This is bulls will eventually be waiting for the right moment to pick up MATIC price action at an attractive discount.”
Besides, as Web3 is growing on the horizon, Polygon emerged as the go-to scaling solution that’s enabling Ethereum to become the most definitive, fundamental settlement layer of the growing Web3 ecosystem.
According to the crypto KOL, one reason Polygon is the destination for some many projects is its complete compatibility with the Ethereum Virtual Machine (EVM). This allows Polygon to tap into the established community of developers who can easily migrate their work to and from the Ether network leveraging their existing tools.
“Polygon hosts some of the biggest Web3 platforms and developers in the industry, from decentralized finance protocols such as lending platform Aave to luxury brands company Dolce & Gabbana, and even NFT marketplaces including OpenSea and Mark Cuban’s Lazy.com. Some of the DApps that have already integrated Polygon are Sushi, Aavegotchi, and Arc8.”