Crypto influencer and investor Lark Davis shared three cryptocurrencies that he believes have the potential to rise 100 times and can challenge the dominance of the rapidly growing Chainlink (LINK) in the oracle field.
Attention To These 3 Cryptocurrencies!
Number one among the cryptocurrencies that Davis expects to rise 100 times is Band Protocol (BAND), the first decentralized oracle to hit a sharp drop this month. Davis states that BAND’s market value of about $ 150 million is preparing it for a parabolic rise that it thinks will take it to new heights. According to the famous investor, Chainlik’s (LINK) biggest competitor is BAND.
Number two of the list shared by Davis is Tellor (TRB), an Ethereum-based oracle that uses the PoW algorithm. According to him, Tellor stands out with its different approach. A simple example of its different approach is that it allows miners to compile data before transferring it on-chain and powering smart contracts. The crypto currency influencer adds that Tellor has made a big change recently. He explains that TRB with a market value of 33 million dollars must grow by more than 100x in order to reach the current market value of Chainlik:
The Tellor v2 upgrade has just been released and the new version offers a major performance upgrade in terms of speed of placing data on the chain. More data points are also added per block. In addition to better security parameters, we also have token fee burning, which is important for Tellor’s price to rise in the long run.
The last oracle on the list of cryptocurrency investors is DAI. He expresses his expectations for DAI in the following words:
DAI is an open source oracle platform that enables market actors to share source, procurement and reliable data or to promote themselves like the Wikipedia of oracles. This was created specifically for the DeFi ecosystem. DAI token holders manage, acquire and validate data internally through crypto-economic incentives and staking of governance tokens.
Davis points out that DAI can provide APIs for traditional finance and connect real-world data to the blockchain world. With a market value of 37 million dollars, DAI points out that Chainlink must rise 100 times in order to reach its market value of 3.8 billion dollars.