In a recent video for his very popular YouTube channel, popular New Zealand-based crypto analyst Lark Davis (@TheCryptoLark on Twitter) talked about five low-cap altcoins that could deliver 100x gains.
The first three are projects that Davis has mentioned in several previous videos, but the last two projects he talks about in this video for the first time.
Ramp Finance (RAMP)
RAMP DEFI “proposes that the staked capital on the non-ERC20 staking blockchains be collateralized into rUSD, a stablecoin which is issued on the Ethereum blockchain.” rUSD “therefore represents collateralized staked liquidity.” rUSD token holders can “borrow, lend or exchange rUSD for other stablecoins such as USDT or USDC freely within the DeFi ecosystem, creating a seamless liquidity ‘on/off ramp’ for users with capital locked into staking arrangements on various blockchains.”
Davis says the development team plans to add support for Etherem-based assets as well as Eth2 staking tokens. He also mentioned that RAMP could in future become “a blue-chip DeFi coin.”
APY.Finance is yield farming robo-advisor that can connect with all the leading DeFi protocols (such as Uniswap, SushiSwap, Aave, Compound, Yearn.Finance, Synthetix, and dYdX).
The team behind this project say that APY.Finance offers the following important features:
- next-generation yield farming (the platform “gives users a single place to deposit their liquidity” and “handles all the heavy lifting of yield farming by pooling user liquidity and distributing the gas cost”)
- risk management (after “every strategy is assigned a risk score”, APY “distributes user liquidity across its portfolio of yield farming strategies, optimizing for risk-adjusted yields”)
- decentralized and fully community-owned (“users are incentivized with the APY governance token to keep strategy models up-to-date with the latest DeFi developments”)
Davis says that the advantages of using APY.Finance is that — like Yearn Finance (YFY) — it kind of “automates” the process of yield farming and you end up paying much less in gas fees. Davis thinks APY’s market cap (currently around $80 million) could reach $1 billion.
Reef Finance (REEF)
Reef is a Polkadot-powered “smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXs and DEXs while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine.”
The REEF token can be used for governance, protocol fees, staking, and yield distribution.
According to Davis, this “DeFi powerhouse” has a lot of potential to run.
Shadows is “a decentralized synthetic asset issuance protocol built on Substrate.” The value of these synthetic assets is “underpinned by DOWS, and as long as DOWS is locked in a smart contract, synthetic assets can be issued.” In other words, this is trying to do what Synthetix is doing but for the Polkadot ecosystem.
Davis says this will be the first project to launch on PAID Network’s Initial DEX Offering (IDO) platform Ignition. He went on to say that sadly it is not cheap to get a guaranteed allocation in the sale, but you should be able to buy at some point after the sale on Uniswap.
Polkamarkets is “a DeFi-powered prediction market built for cross-chain information exchange and trading, where users take positions on outcomes of real world events–in a decentralized and interoperable platform on Polkadot.”
Polkamarkets aims to address the key problems with existing prediction markets, such as “lack of liquidity & markets, lack of traders, and duplicate or confusing markets.” It aims to do by “incentivising liquidity providers and traders to facilitate & take large positions, while a system for curation and resolution ensures efficient and trustworthy markets.” This platform will “also leverage tried and tested DeFi incentives such as liquidity mining and yield farming to incentivise daily active use.”
“Prediction markets have proven to be pretty popular over on Ethereum, but I think the gamification of what they’re doing here at Polkamarkets could really take this to the next level.“
Newly Launched Altcoin Rallies 36% After Gaining Support From Crypto Exchange Binance
Launched in July, Yield Guild Games (YGG) is a play-to-earn decentralized autonomous organization (DAO) designed to allow users to invest in non-fungible tokens (NFT) in virtual worlds.
DAOs are governance systems that rely on computer code to control and execute actions rather than humans.
Yield Guild Games rallied 36% from $6.01 to $8.22 following the announcement, according to CoinGecko.
The platform’s native token allows players to earn liquidity minding rewards, participate in the network’s governance, and pay for the service’s transaction fees, according to Binance.
Users can also stake coins into YGG’s vaults to earn gaming token rewards, or possibly other forms of altcoins.
“Each ‘vault’ represents the token rewards from one or all guild games earning sources.
Users can stake YGG tokens into the YGG vault [and] in return receive token rewards from games in the vault. Depending on how the vault is constructed, token rewards can vary from YGG tokens to Ethereum [ETH] or stablecoins.”
YGG trading on Binance is set to begin September 25th. Its price has stabilized at $6.98 at time of writing.
Peter Schiff: Prices of Altcoins Will Implode Overnight
According to the famous digital assets skeptic, the altcoin market might “pop” in one day
In his recent tweet, chairman of SchiffGold and famous Bitcoin skeptic, Peter Schiff, has expressed his feelings about the current state of the cryptocurrency industry, Bitcoin, and the altcoin market in general. He said that the current supply is significantly higher than the existing demand on the market. Such conditions might lead to the rapid price drop of alternative coins andof the industry as a whole.
Schiff stated that, when supply overwhelms demand, prices might implode almost overnight, referring to the famous one-day 15-20% correction that was presented on the market in May. During the recent correction on the market, both Bitcoin and altcoins faced a major 5-10% correction.
There are now over 12,000 crypto tokens, 84 of which currently have market caps above $1 billion. There is nothing special about #Bitcoin. The supply of altcoins will keep growing until the crypto bubble pops. Supply will overwhelm demand and prices will implode almost overnight.— Peter Schiff (@PeterSchiff) September 21, 2021
Various market analysts and experts noted that the cryptocurrency market’s correction might be tied to the increase of global risks associated with potential default that Chinese developer Evergrande may face.
At press time, Bitcoin is trading in the range of $43,000 after correcting for 8.5% in one day. After the strong plunge down, Bitcoin bounced back from $40,000 and is now not moving in either direction and forming a candlestick pattern known as a “bullish hammer” that usually appears at the bottom of downtrend movement.
In the same thread, Schiff answered one of the commentators talking about Bitcoin’s potential of removing costs and latency from financial systems.
The only thing that Bitcoin will remove is money from the pockets of people foolish enough to buy it.
Previously, Schiff supported the fact that Bitcoin is replacing gold as a hedge asset. According to the CEO of Euro Pacific Capital, if Bitcoin becomes a new popular hedge asset, gold will have less selling pressure, which will lead to a potential rally.
Little-Known Altcoin Erupts 250% After Unexpected Listing on Crypto Exchange Binance
A little-known cryptocurrency has surged by triple-digit percentage points after a surprise listing on a major cryptocurrency exchange.
The utility token of gaming and non-fungible token (NFT) platform Gala Games, GALA, surged by approximately 250% from $0.02 to hit an all-time high of $0.07 in just 24 hours.
GALA boasts a market capitalization of over $379 million and is the 181st-ranked coin, according to CoinGecko.
The GALA altcoin is based on the Ethereum blockchain which is used as a medium of exchange to purchase in-game items and NFTs in the gaming ecosystem. The project is also using GALA to reward the top 100 players in one of the platform’s games.
Gala Games CEO Eric Schiermeyer, who also co-founded games developer Zynga, says blockchain gaming is the next phase of the internet.
“Everything that touches ownership is going to be affected by what’s happening here. Art and music and everything that has a digital life is going to be touched by this. Anything that you thought was digital that you thought you owned but didn’t really own — that’s what’s about to be revolutionized.”
The surge in GALA’s price coincides with the listing of the utility token on global crypto exchange Binance. The crypto asset can now be traded against other cryptocurrencies specifically Bitcoin (BTC), Binance Coin (BNB), and stablecoins BUSD and USDT. Binance says withdrawals will commence 24 hours after the start of trading.
GALA has given up some of its gains after hitting its all-time high. At time of writing, GALA is trading $0.05.
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