The market is in the red these days and some analysts are citing bullish altcoin projects. As Somanews, we will be sharing the altcoins that Lark Davis, a crypto money investor, thinks you should put on your radar. However, it is worth noting that this is only the analyst’s opinion.
Lark Davis thinks these altcoin projects will rise
Terra (LUNA): The first altcoin on the analyst’s radar is Terra (LUNA). This blockchain protocol uses fiat-pegged stablecoins to power price stable global payment systems. According to the analyst, there is a lot of interest in the Terra ecosystem. But the most important thing is that the stablecoin gains acceptance across DeFi. He points out that when stablecoins rise, there will be more adoption and the price of LUNA will rise.
Chainlink (LINK): The second altcoin to mention is Chainlink (LINK). Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information complex smart contracts need to become the dominant digital contract format. It currently supports more than a thousand projects, with over 700 oracle networks. According to the analyst, we will likely see this doubled.
Solice (SLC): The third coin is Solice (SLC). Solice is a VR metaverse on the Solana Blockchain. Solice supports multiple platforms, unblocking different hardware, software and operating systems. As a result, people can invite and interact with their friends and family, increasing the potential for the user base to grow exponentially, according to Davis.
Curve (CRV): The next altcoin to be mentioned is Curve (CRV). Launched in January 2020, Curve is now synonymous with the DeFi phenomenon and saw significant growth in the second half of 2020, according to the analyst. “There is a huge demand for this token. We will begin to receive these tokens as reserve assets in our broader portfolios.”
Acala (ACA): The last altcoin on the list is Acala (ACA). ACA is the utility token that powers Polkadot’s DeFi hub. It encourages network nodes to monitor and forward messages to Polkadot. ACA is coming soon. Acala has launched a token on the Kusama network, its version of Acala Kusama is called Karura (KAR). According to the analyst, this will also increase the price of the ACA.