Connect with us

Cryptocurrency

Crypto Trader Lark Davis Lists Top Six Altcoins To Buy in March

Published

on

Crypto trader and influencer Lark Davis is naming six altcoins that he says have the potential to be big movers in March.

In a new video, Davis tells his 224,000 YouTube subscribers that he’s keeping a close watch on Cardano (ADA) as the third-largest crypto asset is poised to continue its meteoric ascent.

“The big news for Cardano is the Mary hard fork will be rolled out to the mainnet on March 1st. Now this hard fork will help Cardano take the next steps [to] becoming a fully functional ecosystem. We’re going to see tokens finally being implemented. We’re going to see smart contracts on the main chain. This is the first step towards making that happen.”

Advertisement

The next coin on Davis’ list is Kusama (KSM), which the crypto trader refers to as “Polkadot’s (DOT) little brother.”

“Parachain auctions are coming soon to the Polkadot ecosystem and the first stop is Kusama… We do know that they’re coming very soon and that parachains will be happening first on Kusama and then happening on Polkadot after that. Kusama has been rallying super hard for the last few months now. I fully expect it to continue to rally much harder in anticipation of the first parachain auctions.”

The third coin to keep an eye on, says Davis, is Litecoin (LTC) as it gears up to launch the MimbleWimble privacy upgrade.

Advertisement

“MimbleWimble is a pretty big deal since it’s going to bring privacy to Litecoin. It will be the biggest update for crypto’s silver in the last few years.”

Coming in at number four is blockchain scaling solution Polygon (MATIC).

“With Ethereum 2.0 basically nowhere in sight, it will really come down to layer-two scaling solutions to pick up the slack from here on out and there’s no bigger and no more important layer-two scaling solution than Polygon.”

Advertisement

At number five is decentralized derivatives exchange Injective Protocol (INJ).

“It’s a fully decentralized layer-two exchange, low fees, high speed, all the stuff you want in a decentralized exchange. Allowing you to trade any markets in and out of crypto, Injective has absolutely been smashing it with big partnerships left, right and center, teaming up with Avalanche (AVAX), Marlin (POND), Ocean, Unilend (UFT)… It’s also introduced in the last few weeks, forex markets as well as stock trading, so bringing in those derivatives markets.”

The last coin on Davis’ radar is decentralized exchange (DEX) Uniswap (UNI).

Advertisement

“Uniswap has been cooking up v3 in the development kitchen for a long time now… It’s getting more and more likely by the day that we’re going to get an announcement about Uniswap v3 coming out, which will mean two very, very key things for the UNI token. One is that fees will be shared with token holders, which at the current daily volume of like a billion dollars a day in volume on Uniswap, that could be a pretty lucrative token to hold.

And the second thing that it means for Uniswap and perhaps the most important part of Uniswap v3 is that it’s going to include layer-two scaling… Layer-two scaling should bring the fees to use Uniswap from the current $50, $60 per trade which is like ludicrous, to like a cent per trade in gas fees. It will be game changing.”

Advertisement

News Source

Cryptocurrency

Crypto Traders Most Bullish on Polkadot, Solana, Polygon and 10 Additional Altcoins: Digital Asset Survey

Published

on

A new survey unveils that crypto traders are most bullish on 13 altcoins including Polkadot, Solana and Polygon.

The Real Vision Exchange Crypto Survey is designed to track sentiment among investors by allowing participants to scan 30 tokens and choose if they want to have an overweight or underweight allocation for each one. The survey was conducted by Real Vision Bot, which was created by two independent developers and boosted by macro guru Raoul Pal.

Results from voting that happened on the first two days of this week indicate traders prefer an overweight portfolio consisting of smart contract platforms Polkadot (DOT) and Solana (SOL), as well as Ethereum-scaling solution Polygon (MATIC).

Advertisement

The scalable and interoperable ecosystem Cosmos (ATOM) is fourth on the list, and smart contract platforms Terra (LUNA) and Cardano (ADA) appear tied for fifth. Traders also have overweight allocations for decentralized oracle network Chainlink (LINK), Ethereum competitor Avalanche (AVAX), Ethereum-based token Enjin Coin (ENJ) and decentralized exchange Uniswap (UNI) for the sixth, seventh and eighth places, respectively.

Tied in ninth place are cross-border payment solutions Stellar (XLM) and XRP, as well as decentralized storage network (FIL).

Image
Source: RealVisionBot/Twitter

Real Vision Bot clarifies that the participants are not necessarily holding the cryptocurrencies that they voted for.

“They can of course vote according to their own positions, but also just based on their sentiment or forward looking. There are many reasons why the own book might not be 1:1 the preferred allocation.”

Advertisement

Bitcoin (BTC) is conspicuously absent from the list. Pal highlights that the community is responsible for that absence.

“It’s not us – it’s the community who makes the allocation… You guys, to be exact.

News Source

Advertisement
Continue Reading

Cryptocurrency

Morgan Stanley CEO: Crypto Won’t Go Away

Published

on

Morgan Stanley’s boss is bullish on cryptocurrency but says that demand is scanty so far

Morgan Stanley CEO James Gorman sounded upbeat about cryptocurrencies during the bank’s third-quarter earnings call, claiming that the industry will not go away:

I don’t think crypto’s a fad. I don’t think it’s going to go away.

Morgan Stanley was the first major U.S. bank to grant its wealthy clients access to Bitcoin funds in March.

So far, Gorman does not see a lot of client demand for Bitcoin, but he does not rule out that crypto may start playing a bigger role in its business:

Advertisement

For us, honestly, it’s just not a huge part of the business demand for our clients. That may evolve and will evolve with it, but certainly it’s not what’s driving our economics one way or the other.

Shares of Morgan Stanley (MS) are up 44% since the start of 2021.

The bank’s investment revenue crushed analysts’ estimations in the third quarter of 2021, reaching $2.85 billion.

Not siding with Dimon

Gorman’s views on Bitcoin diverge from those of JPMorgan CEO Jamie Dimon. While the Morgan Stanley head refrained from making specific price predictions, he opined that the largest cryptocurrency would be here to stay:

I don’t know what the value of Bitcoin should or shouldn’t be. These things aren’t going away.

As reported by U.Today, Dimon caused quite a stir by claiming that Bitcoin is worthless.

While the Bitcoin price is already immune to Dimon’s oft-repeated critiques, his caustic comment certainly did not go unnoticed by the crypto community and market observers.

Advertisement

A divisive comment

There are some powerful Wall Streeters who share Dimon’s sentiment. Larry Fink, CEO of asset management juggernaut BlackRock, recently said that he was more in the Dimon camp.

Gorman is not the only banker who disagrees with Dimon on Bitcoin. Bill Winters, CEO of Standard Chartered, recently opined that cryptocurrency assets could serve as a hedge against inflation:

There’s a role for non-fiat currencies, especially when parts of the market are concerned about inflation—and there’s good reasons to be concerned about inflation.

News Source

Advertisement
Continue Reading

Cryptocurrency

China Crypto Ban: World’s largest Bitcoin mining pool to block IP access from mainland China

Published

on


The latest update in the Chinese crypto ban saw the world’s largest Bitcoin mining pool, Ant Pool give in to the regulatory crackdown and announced blocking IP access in mainland China, effective from 15th October. Additionally, amid a global crypto takedown, Ant Pool has also revealed the upcoming launch of its exclusive KYC verification system to further comply with crypto regulations of various countries.

Since the reveal about the Chinese government’s tracking of IP addresses to filter out illicit crypto mining activities in the country, there have been several shutdowns of unregistered mining farms along with registered giants taking steps to comply with the authorities. Earlier this week, the largest Bitcoin mining equipment manufacturer in China, Bitmain announced that it will stop shipping any more Antimers to the country from October 11, in lieu of the ongoing crypto crackdown, that is specially focused on Bitcoin mining.

Advertisement

“Actively responding to the local government policies of the company’s entities has been Bitmain’s business strategy all along…Strictly abide by the laws and regulations of the locations of the company’s entities is the operating principle that Bitmain has always adhered to. From October 11, 2021, Antminer will stop shipping to mainland China (excluding Hong Kong and Taiwan). For customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.”, stated the Press Release.

China Crypto Ban nears end as government succeeds shutdown of crypto businesses

However, the Chinese government has no plans to stop unless the crypto industry has completely vanished from the face of China. According to CoinGape’s recent coverage, China’s authoritarian government is now planning to add crypto mining to the “Negative List” of industries. This would mean that the crypto mining industry will be banned or restricted from any investment from both, mainland China investors as well as foreign investors.

The Chinese crypto ban appears to be near the end as more than 20 crypto firms and exchanges announced the suspension of crypto services in the country. Furthermore, foreign crypto exchange giants including Huobi, OKEx, and Binance have also announced the closure of all services by December.

News Source

Advertisement
Continue Reading