Crypto trader Lark Davis highlighted Ethereum (ETH) and two altcoins among the best investment options for 2022.
Davis has revealed to his 475,000 YouTube subscribers cryptocurrencies that could generate massive revenue in the coming year.
Dealing with ETH in the first place, the analyst predicts that the largest altcoin can reach a five-digit value in 2022.
“I believe Ethereum will be a five-digit asset. We may see the asset go up to $20,000 in this cycle.”
Ethereum is trading at $4,083 at the time of writing.
According to Davis, several catalysts can increase the value of Ethereum.
“We have second-tier scaling solutions for Ethereum. We’re moving to proof of stake soon. We are moving from the horribly inefficient proof of work to proof of stake that will completely replace Ethereum.
Ethereum will be deflationary next year. We will be back below 100 million ETH tokens in the next five to ten years.”
Ethereum supply is currently 118.87 million.
Another altcoin that Lark mentioned is the scalable blockchain platform Elrond (EGLD). According to Davis, factors contributing to Elrond’s rise include the launch of Maiar, which is similar to decentralized exchange Uniswap. With the launch of Maiar, the increased activity on the blockchain stands out.
“It is finally coming to life and this is a very exciting moment for Elrond”
Elrond is trading at $ 255.53 at the time of writing.
The trader also has a scaling solution Polygon (MATIC) for Ethereum, another altcoin.
“Polygon will burn some MATIC. This is great for Polygon’s long-term price. Polygon will go towards 10 bucks, the only question in my mind is when will that be.”
Polygon is trading at $2.59 at the time of writing.
