Crypto trader and analyst Lark Davis is spotlighting five altcoins that he believes have the potential to moon this month.
The first crypto asset on his list is the layer-2 Ethereum-scaling solution, Polygon (MATIC), which has survived the latest market correction fairly well in comparison to other assets.
“Holy cow polygon has just been roaring over the last few months… I think the gains train for Polygon has not finished… Right now you’re looking at a situation where we could still see it get up to $10 per MATIC token which is obviously great gains potential.”
Davis points out that Polygon just flipped Binance Smart Chain in terms of daily transactions, and many major decentralized finance (DeFi) platforms are making their way over to Polygon, adding significant value to the chain.
Next on Davis’ list is decentralized video streaming platform Theta Network (THETA), which is rebounding well after the massive market dip.
“We’ve got some very big catalysts coming up for the Theta Network in the month of June. The first one is the ThetaDrop Marketplace coming in June… The ThetaDrop marketplace is a non-fungible token (NFT) marketplace coming to the Theta Network which will be able to integrate with its different products…
NFTs are a massive advancement in digital ownership so Theta bringing in a marketplace for NFTs is big news and potentially a big price catalyst.“
In addition to its new NFT marketplace, Theta 3.0 is nearing mainnet along with Theta Fuel (TFUEL) staking opportunities. TFUEL is the operational token of the Theta Network and Davis notes that investors could make a bet on that token as well as the THETA token.
Next up is Ethereum competitor Cardano (ADA), which is beginning to test its long-awaited smart contract functionality.
“We have been waiting years for smart contracts. It’s been crazy… Better late than never but you have to keep it real that the introduction of smart contracts onto Cardano – that’s going to be a big catalyst for this blockchain. I think in the run up to the launch of those smart contracts, the price is going to continue to rally as people get more and more excited about the launch of Cardano’s full ecosystem finally coming into play.”
Finally, Davis mentions two tokens that will launch in the near future. The first is derivatives trading protocol Vega. The decentralized derivatives network is a huge market, the majority of which will likely exist on the blockchain in a decentralized manner, adds Davis.
The other upcoming launch Davis is eyeing is Formation, a cross-chain risk smart farming protocol. The protocol allows users to stake money to farm rewards in the native Formation currency. Formation spreads out one’s capital in order to earn crypto holders the highest returns across multiple blockchains.
l
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck 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/Tithi Luadthong
