Renowned crypto trader and analyst Lark Davis explains his strategies for how to find altcoin projects with the potential to generate 100x returns. In addition, the analyst points to some altcoin projects.
How to find altcoin projects with 100x return potential?
In his new analysis, successful crypto trader Lark Davis explains how to find altcoin projects with the potential to generate 100x returns. The analyst says the way around this is to audit decentralized finance (DeFi) protocols that run on blockchains other than Ethereum (ETH). Lark Davis adds to his comments on the bet:
Currently, DeFi is working on Ethereum. The average user pays a lot of GAS prices… The high prices present a huge opportunity for DeFi on other chains right now. For example; DeFi based on the Cosmos (ATOM) SDK is probably one of the most underrated things happening in crypto right now. We have things like KAVA and HARD Protocol (HARD) and Injective Protocol (INJ)… They’re after smaller prices out there… You can pay a fraction of the price you’d pay for Ethereum.
Lark Davis: I’m keeping a close eye on DeFi coming to Polkadot (DOT)
Lark Davis, crypto in interoperability protocol believes coins have so much potential. The analyst adds that he is closely following DeFi’s arrival at Polkadot (DOT), in particular. Lark Davis adds to his comments on the subject:
Think about it. There is currently no single Polkadot DeFi protocol in the top 100. The highest market price for Polkadot DeFi cryptocurrencies at this point is like 120 million dollars for Polkastarter (POLS). That’s 60x profit for the most valuable Polkadot-based DeFi protocol available.
Lark Davis: Also looking at second layer scaling solutions for Ethereum
Crypto influencer is also looking at second layer scaling solutions for Ethereum to find the next big winner. The analyst says that the blockchain scalability protocol Matic Network (MATIC) is a clear leader in this space, as the protocol already has a working artifact and a growing ecosystem. Lark Davis adds to his comments on the bet:
Matic and the analytics built on it can be a decent area to watch.
Lark Davis: Watch for token sales! There are those who do 100x
The last area Lark Davis is tracking is token sales. The analyst says the number of investors participating in token sales is relatively low. Lark Davis adds:
Token sales provide great returns for investors. This year alone, there have been a dozen or so token sales that have probably made 50x or more. That’s disgusting… It even made a couple 100x.
Lark Davis: Watching Umbrella and DAO Ventures
Crypto influencer says Umbrella is watching token sale as it is a second layer oracle solution. Lark Davis adds the following to his explanations on the subject:
They can provide data that other oracles can’t provide, or prices that other oracles can’t compete with. This makes the project very, very different.
Another token sale on Lark Davis’ radar is DAO Ventures. The DAO Ventures project is a DeFi robo advisor and automated money manager that will work on Polkadot and Ethereum (ETH). As Kriptokoin.com we have previously reported, for other altcoin projects that Lark Davis believes will explode, “ Master Trader Announces the Top 5 Altcoins to Explode in February!” You can review our article .