Crypto analyst and YouTuber Lark Davis is pulling back the curtain on four altcoins that have the potential to erupt in the coming months.
In a new video, Davis tells his 237,000 subscribers that decentralized insurance asset Bridge Mutual Insurance (BMI) is still a widely undervalued project.
“Bridge Mutual… I personally think that insurance is one of the most critical and one of the most underrepresented sectors in the entire cryptocurrency economy. Insurance is not super sexy, but it’s incredibly important.”
Davis highlights that BMI has several impressive partnerships and only holds 1/10th the market cap of its nearest competitor, Nexus Mutual (NXM), leaving a lot of room for the asset to grow.
Up next, Davis spotlights what he says is another underrated gem, Sifchain (ROWAN), which is an omnichain decentralized exchange (DEX) built on top of the Cosmos ecosystem.
“The plan here is for Sifchain to support cross-chain transactions for about the top two dozen blockchains. Massive, massive in scale.”
The up-and-coming DEX is also collaborating with the ThorChain team, whose RUNE token is currently sitting at a market cap of over $2 billion.
Davis notes that if one wants to purchase the token on Uniswap, it’s under the ticker EROWAN.
Third on Davis’ list is liquid staking platform RAMP.
“Let’s say you’re staking a coin like Tezos (XTZ). You’re getting your 5% a year reward for doing so but for every $5 of rewards you get, you need to have $100 worth of Tezos locked up… What Ramp allows you to do is to unlock that value, giving you a dollar stable coin in exchange for the total value of your stake. You can then use those dollar coins to go out and do yield farming in DeFi (decentralized exchange) or you can do lending.
Basically what you’re talking about here is doubling or even tripling or quadrupling your gains.”
Synthetic asset protocol Linear Finance (LINA) is the fourth token on Davis’ radar.
“It’s basically working with the Binance Smart Chain with a bridge over to Ethereum (ETH), thus of course, tapping into two of the hottest freaking blockchains in the business right now. By using Binance Smart Chain, Linear Finance will do all of the awesome things that the much higher valued Synthetics (SNX) platform can do but for a fraction of the freaking cost…
The idea here is that you use your LINA tokens… it uses collateral at a five to one ratio to create synthetic LUSD tokens. You lock LINA tokens then actually earn 90% APY (annual percentage yield) in staking rewards… With the LUSD synthetic dollars, you can then buy assets like Bitcoin or Japanese yen, or silver, gold, or euros, or whatever else, Cardano (ADA), Polkadot (DOT), all synthetic of course, using the Linear Finance exchange.”
IDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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.
Featured Image: Shutterstock/Dotted Yeti