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Popular Crypto researcher Lark Davis aka ‘The Crypto Lark’ thinks a number of decentralized finance (DeFi) projects that are not built on Ethereum have significant growth potential to outperform Bitcoin (BTC) as well as ETH in 2020.
He specifically highlights the upside of four little-known crypto assets that he believes could see big growth in the short term.
“I believe that DeFi outside of Ethereum is likely to be a big growth area in the coming months even if we still have great DeFi projects launching on Ethereum.”
Davis calls out Kava (KAVA), Band Protocol (BAND), Switcheo (SWTH) and Nash (NEX) as his top picks.
Kava is a cross-chain, DeFi lending platform.
Its token is trading at about $1.97 at the time of writing, and it has seen 4x gains since mid-May.
Despite its already-skyrocketing value, Davis says the token still has “massive potential for long-term price appreciation.”
“The team and the backers of Kava are very, very strong as well. In my opinion, this has all the makings to be as big as Ethereum’s MakerDao, which at its height had a market cap over $1 billion.”
Band Protocol is a Cosmos blockchain native and cross-chain data oracle network that competes with Chainlink.
Its token is currently trading at about $2.42 at time of writing and has increased about 120% in price since the beginning of July.
Says Davis, “BAND already has a big, growing list of high-profile partners, people like Binance and Wanchain and Elrond and Fantom and Kava, of course.”
SWTH and NEX are both decentralized exchange tokens.
Davis says they have upside potential because Switcheo is launching a new derivatives exchange and upgrading their token model, and Nash just launched a zero-fee fiat on-ramp for users in the European Union.
Davis does warn, however, that both are competing with tons of other decentralized exchanges, which could impact their growth.
In other trending Bitcoin News today:
Bitcoin Price Must Now ‘Reclaim $9,400 Quick’ to Stop Bears – Trader
Bitcoin (BTC) must reclaim $9,400 as soon as possible in order to change its bearish course, says Cointelegraph Markets analyst filbfilb.
In an update on social media on July 16, the popular trader warned that the situation facing Bitcoin was fast becoming make or break.
“BTC Bulls need to reclaim $9400 quick sharp,” he wrote in comments on a long-term price chart.
Attention focused on BTC/USD being stuck in a compression cycle which has lasted for multiple weeks.
Compression refers to a pattern of higher lows and lower highs, with a trading corridor narrowing before a breakout.
For Bitcoin, the danger lies in a potential climax occurring in bearish territory as denoted by the Bollinger Bands volatility indicator.
Bollinger Bands consist of an upper and lower band surrounding a middle band and have historically captured both bullish and bearish moves by Bitcoin.
“Coming to the end of consolidation/compression now.. doing so below the middle of the bbands is not typically a good sign,” filbfilb continued. Should $9,400 reappear, he added, the outlook would be open to reinterpretation: “Reclaim that level and happy to reconsider bearish bias.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/bitcoin-price-must-reclaim-9-400-quick-sharp-to-stop-bears-trader
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