- Crypto analyst and YouTuber Lark Davis has noted five altcoins he is currently bullish on.
- The new list of coins is entirely different from the altcoins the analyst mentioned in his previous video on altcoins to own.
Less than a month after popular crypto influencer and investor Lark Davis uploaded a video on “Top 5 Crypto Altcoins To Have On Your Rader, the analyst has again noted “hot” altcoins to watch. In his previous video, the altcoins Davis mentioned included Wilder World (WILD) and EPIK Prime. Others were Elrond (EGLD), Covalent (CQT) and Moonbeam.
In his most recent video on top altcoins to watch, Davis said he selected the crypto assets across various blockchains. According to the crypto influencer, the altcoins were picked from blockchain like Ethereum, Solana, Kusama, etc.
Before proceeding to list his top altcoins, Davis warned that investors conduct proper research before putting their money in any kind of crypto asset. Also, he revealed that he owns some of these cryptocurrencies and not all.
Convex Finance (CVX)
Davis explained that the yield aggregating platform gives rewards for staking tokens with them and a separate enhanced reward. The projected breakdown Davis showed placed base APR from curve finance at 0.37 percent, CRV APR at 18.03 percent, and Convex APR at 32.11 percent. In addition, earning CVX tokens, holders can stake the tokens to earn more money.
Speaking further, Davis noted that Moonriver is bullish on Moonbeam- the Polkadot equivalent to Moonriver. The crypto investor is confident that Moonriver is one of the most promising projects currently existing in the Kusama ecosystem. Some of the prominent names backing Moonriver are Binance and Coinbase.
Analyst Davis considers DYDX, the decentralized exchange on layer 2 Ethereum, as one of the altcoins positioned for a boost. DYDX was built with starkware, a decentralized exchange. On the exchange, investors can farm by using their USDC on the platform, and they get rewarded daily with dYdX tokens. In the last 24-hours, the cryptocurrency has climbed over 17 percent in its trading volume. Interested persons can buy DYDX or farm the token.
SushiSwap exist across several blockchains such as Ethereum, xDai, OKEx, Polygon (MATIC), and BSC. With about a $2.5 billion market cap, Davis believes that the crypto is currently under-valued. The crypto fanatic further noted some factors that may fuel an increase in the price of SushiSwap. Davis mentioned the recently released Launchpad- MISO. Also, SushiSwap has announced its yet to launch a non-fungibe token (NFT) platform. The Launchpad and the coming NFT platform, as Davis stated, are the major two reasons he is bullish on SushiSwap.
Port Finance (PORT)
Concluding his hot 5 altcoins to watch, Davis also listed Port Finance, which currently trades at $10.29. The price of PORT has declined more than 14 percent and dropped nearly 48 percent in the last 24 hours.
Billionaire Mark Cuban Identifies Altcoin With ‘Most Upside’ As Bitcoin Blasts Above $60,000
As Bitcoin shoots above $60,000, business magnate Mark Cuban says one altcoin stands above the rest in terms of investment potential.
In a new interview with CNBC Make It, the billionaire says that Ethereum (ETH) is the best crypto prospect on the market.
“As an investment, I think Ethereum has the most upside.”
Cuban, who previously stated that smart contracts on Ethereum’s blockchain have revolutionized the cryptocurrency market, believes that the second-largest crypto by market cap is the digital asset which most resembles legal tender.
“I wish I had bought [Ethereum] sooner. I think it’s the closest thing we have to a true currency.”
Cuban went on to reiterate his position that Bitcoin (BTC) is superior to gold because not only is its supply scarce, but it’s easier to transfer, store, trade, and fractionalize. That sentiment is shared by fellow billionaire CEO Chamath Palihapitiya of Social Capital and Virgin Galactic.
Cuban’s comments come on the heels of him saying that customers prefer making payments in Dogecoin (DOGE) rather than BTC at his venues because Bitcoin tends to be a highly appreciable asset.
Ethereum is exchanging hands at $3,839 at time of writing, an 11% increase from its seven-day low of $3,431, according to CoinGecko.
Altcoin Designed To Enable Bitcoin Smart Contracts Has Surged by More Than 60% This Week
One Bitcoin-native altcoin shot up more than 60% this week as BTC continues its ascent towards $60,000.
The altcoin is Stacks (STX), a blockchain protocol that’s bringing smart contract capability to the Bitcoin network.
A recent update from the Stacks newsletter shares that non-fungible tokens (NFTs) built on Bitcoin have been exploding in the past week and that several NFT projects had successfully launched on Stacks.
In light of Stacks’ growing NFT market, the STX token soared from its sub-$1.40 price tag to a local high of $2.43 in the past week. STX is currently down slightly from its top and trading at $2.16, according to CoinGecko.
With a market cap of $2.2 billion, the token’s ascent moved STX up to the 67th spot among top cryptocurrencies.
In July, crypto intelligence firm Messari reported that Stacks was listed as one of the more popular holdings among crypto hedge funds and venture capital firms, with nine different firms holding the crypto asset.
As for Bitcoin, the top crypto asset is still running hot and currently trading at $57,872, up 31% in October.
Analytics Firm Issues Altcoin Warning, Says Crypto Asset That’s Surged 393,000% Year-to-Date Is Likely Overheated
Blockchain analytics platform Santiment says that a memecoin which has soared by nearly 400% over the past seven days could be due for a correction.
Santiment points out that the number of Shiba Inu’s (SHIB) active deposits is “extremely high,” which suggests a possible reversal in the future.
“Yellow flags starting here. Extremely high active deposits are suggesting that it’s probably a top forming.”
The crypto analytics firm says that even though SHIB inflow to exchanges is “not very high,” it nevertheless hints that a reversal could be imminent.
“It’s not very high, we would expect to see much higher. But still it’s suggesting the same, probably a top forming.”
Santiment also says that profit-taking by SHIB traders is low, an indication that traders are betting on the price of the memecoin surging even higher. The firm warns that markets often “punish” this kind of overconfidence.
“…potential profit-taking from Shiba is still relatively low, not a whole lot… yet.
We would notice that higher price tops are built on lower profit-taking spikes. This could potentially indicate that traders are becoming too confident on price action, like ‘no need to sell, it’s going to pump more.’ Market tends to punish this sort of confidence.”
Shiba Inu is trading at $0.000034 at time of writing, according to CoinGecko. Since the start of the year when the memecoin was priced at $0.000000000077, SHIB has surged by over 440,000%. SHIB is currently ranked 12th by market cap.