Prominent crypto trader and analyst Lark Davis shares with his subscribers the top 5 altcoin projects with strong fundamentals and expects them to launch their rally soon. we too cryptocoin.com We have compiled the altcoins in the trader’s list for you.
Convex Finance (CVX), a revenue collection platform ranks first
Convex allows Curve.fi (CRV) liquidity providers to earn transaction fees and claim increased CRV without locking up CRV. Liquidity providers can receive increased CRV and liquidity mining rewards with minimal effort. According to traders, the altcoin project has no withdrawal fees and no minimum performance fees, which are used to pay for gas and are distributed to CVX shareholders.
At the time of writing, he owns $7.29 billion of shares in the Convex Finance platform. However, its market cap is only around $222 million. The crypto analyst says the following about the altcoin:
There is potentially a lot more room to grow here. If this can make itself some sort of household name, a DeFi bluechip, then we expect it to hit a billion-dollar market cap.
Moonriver (MOVR), one of the promising altcoin projects in the Kusama ecosystem, ranks second
Moonriver is a smart contract Parachain that provides compatibility with the Ethereum developer toolchain and network available in Kusama. It is intended to be a companion network to Moonbeam, where it will provide a permanently promoted canary network.
Renowned analyst Lark Davis makes the following assessment:
This is one of those opportunities that is potentially very interesting to consider and is still undervalued at current market value. Although basically gone 100 percent last week, Kusama in Polkadot is ready for takeoff as an entire ecosystem. I think Moonriver is one of the most promising projects in the Kusama ecosystem right now.
Third on the analyst’s radar is dYdX (DYDX)
DYDX is a decentralized margin trading protocol built on the Ethereum Blockchain. The protocol allows users to lend, borrow and bet on the future price of crypto assets via the decentralized exchange.
The ultimate goal of the altcoin project is to bring trading tools normally found in traditional markets such as forex and stocks to the blockchain environment. Meanwhile, it should be noted that dYdx is among the top 20 derivatives exchanges worldwide. The crypto trader’s views on DYDX are as follows:
With its in-house Tier-2 scaling solution, DYX enables platform users to trade with zero gas cost, lower trade fees and reduced minimum trade sizes. This represents a major advance in the continued will of DEX and will certainly accompany dYdX on its journey to become the #1 decentralized trading protocol in the space.
An example of an automated market maker (AMM) altcoin project Sushiswap (SUSHI) ranks fourth
An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges that use smart contracts to create a market for any token pair.
Sushiswap has a market capitalization of $1.3 billion. Lark Davis says there is an upcoming price catalyst for SUSHI, and he believes this coin is extremely undervalued. According to traders, Sushiswap brings an NFT platform that works on a dozen different chains.
Port Finance (PORT), a DeFi money market protocol on Solana, is in last place
Transactions such as variable rate lending, fixed rate lending and interest rate swaps can be performed on the Port Finance platform. But rather than being limited to these, it aims to provide a complete suite of lending products. At the time of writing, PORT was trading at $9.96 with a market cap of just $20 million.
Crypto analyst Lark Davis has this to say for Port Finance (PORT):
It provides a full suite of money market products, starting with variable rate lending. Taking advantage of Solana’s high throughput and low latency, users will be able to borrow more with the same amount of collateral compared to Ethereum alternatives, as the platform can liquidate users much faster.
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