Crypto analyst Lark Davis sheds light on a handful of altcoins that he believes have great potential.
The trader tells its 191,000 YouTube subscribers that it is keeping an eye on five little-known crypto projects as the sector continues to grow rapidly.
The first on Davis’ radar is SeaScape Network, a project that Davis says is positioning itself well in the decentralized financial (DeFi) ecosystem, tapping into the gaming industry and its crypto-friendly community.
“This is a gaming ecosystem platform for DeFi and non-fungible tokens (NFTs). So basically we see here that they are currently taking advantage of the hottest trends in cryptocurrency …
Now the game industry is incredibly big. [And] The gaming community fits in perfectly with the blockchain world. “
Davis notes that SeaScape’s Crowns (CWS) token is on Uniswap, but warns that the price has increased significantly because it just had its ICO.
Next up on Davis’ list is another token, Bridge Mutual (BMI). Bridge Mutual is a decentralized insurance project on Polkadot that Davis has a long-term interest in.
Notes that the project is in an underserved sector of the DeFi market, Davis explains that insurance projects will be an integral part of the crypto ecosystem.
“This is probably one of the most important emerging and underrepresented niches in cryptography right now. Insurance is such a big deal and such a necessary service. Basically, this will be critical to building trust in DeFi, as the risk of hacks and exploits is one of the biggest fears that keep DeFi participation on the low side right now. “
The third project on Davis’ radar is Sifchain Finance (ROWAN), a decentralized omni-chain exchange that supports cross-chain transactions. Although registration is currently closed for token sales, the coin will be launched soon and Davis says he will likely double his position on the project once it hits the exchanges.
Fourth on Davis’ list is Paralink Network (PARA), a multi-chain oracle platform. The reason this project stands out for Davis is because of its unique Paralink query language, which enables faster transaction speeds and allows individuals to search for verifiable data in databases, websites and APIs.
Davis also points out that Paralink is based on Polkadot and that many projects within the ecosystem are currently doing very well.
The last project Davis highlights is DAOventures, a crypto robo advisor and automated money manager that seeks to make DeFi easier for the average person.
“They’re basically trying to make DeFi super easy for the average person to target the same market as something like yearn.finance (YFI), but it’s going to be a really easy way to do that. A nice easy to use dashboard to access DeFi where you can do income farming, use a DeFi manager, lend and borrow, market make and all of those things while assigning your risk preference. “
Don’t Miss A Beat – Subscribe to send crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Check out the latest headlines
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are at your own risk and that any losses incurred are your responsibility. The Daily Hodl does not recommend buying or selling 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