The host of Coin Bureau is pulling back the curtain on his top five altcoins picks for 2021.
In a new video, the pseudonymous analyst tells his 225,000 subscribers that he expects a smaller number of altcoins to experience exponential gains in the year ahead.
“For those that have followed the crypto markets for some time, they’ll know there’s usually a pivot to altcoins once Bitcoin has rallied. However, given how more sophisticated the markets have become, it’s unlikely that this rising tide will lift all boats. Only some altcoins are likely to capture those gains you’re striving for.”
Number one list is the privacy-centric coin Monero (XMR).
The analyst highlights that power powerful enforcement agencies have been scrambling to decode Monero’s cryptography to no avail.
“There are a number of other reasons as to why I’m so bullish on Monero. Firstly, the privacy tech is unrivaled… Secondly, this tech is constantly evolving as the developers work to harden the protocol and secure its privacy. And speaking of those devs, they are some of the most hardcore cypherpunks in the crypto space, a broader collective of idealistic individuals all driven by their goal of preserving financial freedom.”
He adds that Monero has the highest liquidity among other privacy coins, although exchanges face pressure for servicing privacy coins.
Number two on his list is Algorand Network (ALGO), which aims to develop a blockchain that is secure, scalable, and decentralized. He spotlights the recent integration of USD Coin (USDC) into the Algorand Network.
“This means USDC users will be able to send the stablecoin on the Algorand Network cheaper and faster that would be done on Ethereum, for example. It’s also no secret that USDC is becoming the de facto stablecoin globally. For example, you had the recent monumental news that Visa would be offering USDC settlement to all its 60 million merchants. All of this transaction demand will need a super fast and efficient blockchain to be settled on. All of this transaction demand on Algorand will naturally lead to a demand to pay for the transactions which are paid in Algo.”
His third pick is Theta, a project that is aiming to transform streaming and online content delivery into a decentralized and democratic infrastructure.
“Firstly, streaming itself is really hot. You need to look no further than YouTube and Twitch with billions of users. These are all on centralized platforms and use centralized content delivery networks. You can see why Theta is appealing here. Secondly, this is not just pie in the sky. Theta is actually streaming content. They started with esports but have since moved on to poker, cryptocurrency events, and have also partnered with MGM to briefly stream Hollywood classics.”
For his fourth pick, he has chosen the Injective Protocol (INJ), a decentralized derivatives exchange (DEX) built on Cosmos.
“They are trying to create a paradigm shift in the DEX space. Quite simply, it will allow users to trade spot, swaps, and futures in a completely permissionless way. They’ll also be able to structure their own derivatives on the platform and create a market for it. Anything that has a price, users could eventually be able to issue their own decentralized derivative contracts for.”
He says Injective Protocol has an edge over Ethereum-based assets as it is a layer-two Cosmos zone which means the protocol won’t have to deal with network congestion. He also notes that users can trade more assets on the DEX on top of ERC20 tokens.
Number five on his list is BarnBridge (BOND), a project that seeks to tokenize risk.
“Essentially it works by pooling funds on the platform and then allocating these funds to different DeFi protocols. These include the likes of Aave, Compound, dYdX, Synthetix, etc. Then once the funds have been pulled, they will tranche the yield such that it can be tokenized individually. This, therefore means that DeFi investors are able to invest in different risk tranches based on their yield and risk tolerance.”
As the total value locked into DeFi protocols goes parabolic, he says BarnBridge could be well-positioned for massive shifts this year.
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