Crypto finance platform Bankless has announced some altcoin projects and crypto sectors that traders can consider for the next bull market. While the cryptocurrency market is currently on the decline, the future is bright, according to Bankless. The platform specifically points to GameFi, Web3, SocialFi and options markets. Here are the details…
Bankless focuses on some altcoin projects
While the cryptocurrency industry may seem “rudderless” at the moment, the future is bright, according to Bankless in a new subscriber update. The platform draws attention to rumors that Arbitrum is potentially launching its own token. That’s why he says he’s keeping a close eye on the layer-2 Ethereum scaling platforms Arbitrum and Optimism (OP). The next crypto on Bankless’s list is the interoperable blockchain project Cosmos (ATOM).
Bankless said ATOM is poised to grow as it has several upgrades and projects in the near future. A switch upgrade scheduled for release in January 2023 will support the security of the network. It will also make transactions on the network easier.
Bankless is also watching the DeFi industry
Bankless also monitors the decentralized finance (DeFi) sector. It marks the beginning of the development of the DeFi field for option protocols and NFTs. He says that by the end of this year or the beginning of next year, these areas will be revived. The platform uses the following expressions:
One of the sectors that seems to be gaining momentum is option protocols. Protocols such as Dopex, Lyra and Premia that take advantage of the capacity provided by Layer-2s; It is becoming a more important part of the options market structure. These protocols are likely to grow in the near future as sophisticated DeFi users manage their risk.
Will Web3, SocialFi and GameFi grow?
The last industries on the list are Web3, social networks, and crypto games (GameFi). Bankless says Web3 social platforms will grow because they are censorship resistant. A few apps and protocols to consider in the coming months, according to Bankless, are gm.xyz and Lens. Attention is also drawn to DeSo, a layer-1 specifically designed to host blockchain-based social applications.
As for GameFi, Bankless noted that the industry could serve as a platform to drive widespread adoption of NFTs. In particular, he says he can voice the success of games won by playing like Axie Infinity, STEPN, and Sweatcoin.
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