Popular crypto analyst and trader Lark Davis shares with his subscribers 5 altcoin projects on his list that have up to 10x solid potential by the end of the year. we too Cryptocoin. com, we have compiled the analyst’s posts for our readers.
The first altcoin project on the list is Trader Joe (JOE)
Trader Joe (JOE) is the largest decentralized exchange in Avalanche. The analyst highlights that Avalanche is an ecosystem with a lot of potential and Trader Joe’s is currently an outstanding AMM DEX project on Avalanche (AVAX):
Despite launching only 4 months ago, Trader Joe’s surpassed Pangolin (PNG) to become the largest TVL-owned AMM DEX in the Avalanche ecosystem when it reached $500 million in TVL in August.
Lark Davis points out that in terms of upside potential, Trader Joe’s is “still a baby” compared to the $13 billion Uniswap or the $4.5 billion PancakeSwap, with a market cap of just $280 million.
Ramp (RAMP) that Ethereum users can interact with
Second on the list is Ramp (RAMP), a decentralized protocol that aims to increase the adoption of DeFi by allowing non-Ethereum users to stake their tokens on ETH platforms. At the same time, Ethereum users can interact with the RAMP protocol and increase their throughput.
With a market cap of just $123 million, the analyst says he believes Ramp will pump 10x more and will have at least a $1 billion market cap altcoin project due to the upcoming Ramp 2.0:
We will see new chain expansions very soon. Ramp will integrate Polkadot as well as Solana. This is a pretty big thing. A new chain means new users, new liquidity, new options, new DeFi integrations. They also enable the minting of the rUSD stablecoin on the Ethereum network.
An optional insurance platform Bridge Mutual (BMI)
Bridge Mutual (BMI) is a decentralized, on-demand insurance platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide insurance coverage, decide on insurance payments and receive compensation for participating in the ecosystem.
At the time of writing, BMI has reached a market cap of $37.3 million, up 33.75% in the last 24 hours, according to CoinMarketCap data. Lark Davis emphasizes that the upcoming price catalyst for BMI and the current market cap imply that the coin is still undervalued:
Bridge Mutual version 2 is coming. One of the most important and biggest things that excites me is their integration with Solana very soon. This is huge because Solana is the fourth or fifth largest cryptocurrency. The DeFi scene in Solana is exploding. We’re seeing all kinds of new protocols coming to Solana. However, we do not currently have any insurance in Solana. One of the reasons I’ve been a little hesitant about investing more money in some of these Solana pools is the lack of insurance. Now Bridge Mutual is expanding to Solana. So there’s a huge potential catalyst out there.
True cross-chain DEX, Portal Defi (PORTAL)
Portal DeFi is a self-hosted Tier-2 wallet and true cross-chain DEX on Bitcoin that performs fast, secure and private atomic exchanges between Bitcoin and other digital assets. The analyst makes the following assessment:
This is Kaman-2 decentralized finance platform for Bitcoin Blockchain which is of course something very unique. You don’t see a lot of DeFi built on Bitcoin. But I think there is a huge demand for Bitcoin-based decentralized finance products.
It is also highlighted that the project recently closed an 8.5 million dollar funding round to build an independent and uncensored DeFi on Bitcoin. Funding round Coinbase Ventures, ArringtonXRP Capital, OKEx, Republic. co, Shima Ventures etc. joined.
Latest altcoin project Ardana (DANA)
Last on the list is Ardana (DANA), a decentralized stablecoin hub that will bring Cardano the DeFi primitives needed to start and sustain any economy.
Ardana offers an on-chain asset-backed stablecoin and a decentralized fixed asset DEX. Regarding the altcoin project, the analyst says:
It will bring borrowing by allowing you to borrow stablecoins in exchange for locked collateral. Let’s say you have 10,000 dollars of Cardano staked but you actually need some money. You can take your Cardano, bring it here, use it as collateral to borrow Ardana stablecoins, which is quite cool, frankly.