Crypto trader Lark Davis is pulling back the curtain on five altcoins that he believes are set to erupt in April.
In a new video, the popular influencer starts his list with Kusama (KSM), a sandbox for Polkadot (DOT) projects. At the time of writing, Kusama is trading at $493, but Davis says it will “probably be worth a couple thousand dollars” by the end of the boom cycle, partially because of the launch of Polkadot’s parachain.
“The parachain auctions are going to be massive, one of the biggest events probably happening in crypto this year because it’s going to introduce a supply shock for Kusama since we’re going to see big percentages of the supply of KSM getting locked up in bonds for six to 24 month periods. Now you combine that in with staking… There’s not really going to be a lot of Kusama available on exchanges for those wanting to get it either to do bonds or to do staking… and of course when there’s a scarcity of supply the price tends to go up as demand is rising.”
The next coin that Davis says should be on your radar for April is Uniswap (UNI), the native token for the biggest decentralized crypto exchange. He believes that the anticipation of UNI’s v3 update on May 5th could push the price up throughout the entire month.
“This massive upgrade will likely serve as a good price catalyst during the coming month as people kind of buy the rumor and then of course sell the news after May 5th.”
The analyst names capital efficiency tool Ramp as the third coin to watch for April. Ramp is a decentralized finance (DeFi) project with a suite of products that allows staked capital to generate yield by collateralizing them into a stablecoin.
“Liquid staking has an addressable market worth billions. Literally, every major proof-of-stake chain including Ethereum (ETH)… Polkadot, Avanlanche (AVAX) will be able to use RAMP. This will provide more options and more value to stakers on those chains and will also be useful for RAMP because it’s going the be at the epicenter of all of that value.”
Ramp went from $0.01 in October of 2020 to $1.00 this month, and Davis has a target of $5 for this year.
Next up is the internet-scale blockchain Elrond (EGLD). According to the trader, the upcoming Elrond DeFi 2.0 module update will improve the crypto asset’s functionality for new stablecoin standards, non-fungible (NFT) token standards, swapping, lending, and other features.
“The team’s out there consistently putting in the hard work, consistently delivering on technology, consistently delivering on products and of course consistently delivering on partnerships and wow have they just continued to nail out useful and interesting partnerships.”
The last altcoin to track is Cere Network (CERE), a decentralized data and finance cloud for enterprise solutions. Davis speculates that since Binance is an investor in the project, Cere Network could end up listing on the world’s biggest crypto exchange in the near future.
“CERE will have a big focus on interoperability, linking in with other major chains so we’re going to be having support here for Polkdadot, Binance, Cosmos, Ethereum, the biggest players when it comes to DeFi, users and data. CERE will be seeking a Polkadot parachain as well.”
iDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
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/GrandeDuc