Crypto analyst Lark Davis says he’s tracking five low-cap altcoin projects that could witness huge rallies in the near future.
The first, Injective Protocol (INJ), is a universal decentralized exchanging protocol that offers cross-chain derivative trading of spot markets and futures markets, according to Davis. The analyst says it is going to be “super fast” and “super cheap” to make trades on Injective, unlike other decentralized exchanges with large fees. Injective is backed by Binance and has teamed up with Chainlink for price feeds.
UniLend (UFT) is a decentralized protocol that combines spot trading and money markets with lending/borrowing services. Davis says it can list any Ethereum-based token, “opening up billions in liquidity.”
“UniLend has a $2 million market cap. This is super low cap stuff here, guys. The most similar competitor to UniLend is probably Aave, which has about a $400 million market cap, so that would be a 200x move if UniLend ever got such a high market cap. That’s a lot of upside.”
Rarible (RARI) is a decentralized and community-owned marketplace for non-fungible tokens (NFTs). Davis says the rise in popularity of NFTs has been the second-biggest trend of 2020 after decentralized finance (DeFi). Traders can earn RARI for using the Rarible marketplace – and Davis says they should be looking to earn them rather than buy them. However, he says there is still potentially a good case to be made for buying RARI.
PowerTrade (PTF) is an upcoming Bitcoin options trading platform with a focus on the mobile retail trader. The product hasn’t launched yet but it has the backing of major players like Pantera as well as the founders of CoinGecko, Kyber and Synthetix, according to Davis. Currently, the platform is scheduled to go live in Q4 of this year, and when it does, Davis predicts the PowerTrade Fuel token will see a nice bump in price.
“The Bitcoin options markets are massive – billions and billions of dollars. Really big markets. But most of the options markets today cater to big institutional players. The small traders – they’re not catered for and they remain a largely untapped market.”
Wootrade is an upcoming trading platform that will be offering zero fees and deep liquidity for big money traders. It’s being launched by Kronos, which is one of the largest quant trading firms in Asia. The platform is currently in closed beta but a dozen institutions involved in the beta are already providing it with good volume, Davis notes.
The WOO token will enable zero-fee trading and functions as a governance token. It’s not yet listed on any exchange but Wootrade will have a token sale on October 29th.
The popular YouTuber cautions that all low-cap projects are risky and could tumble to zero, but he says he does like the chances of these five.
“I think that these five low-cap cryptocurrencies stand a pretty gosh darn good chance to make some big returns for investors as they’re tapping into some hot niches. They have big backers and massive upside potential.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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