Crypto trader and influencer Elliot Wainman names a group of altcoins that he believes have the potential to generate 1,000x profits.
Wainman tells his 218.00 YouTube subscribers that he remains bullish on DeFi as he believes the Total Value (TVL) in the emerging sector will increase from $ 28.6 billion to $ 100 billion.
The analyst anticipates that small-cap DeFi coins will benefit from the growth of the TVL, including the decentralized stablecoin Exchange Snowswap (SNOW), the liquidity tool Unistake, the decentralized Exchange PancakeSwap (SWAP), and the yield farming protocol Bao Finance (BAO).
Another coin on Wainman’s radar is Bridge Mutual (BMI), a protocol that provides insurance against smart contract failure, crypto exchange attacks, stablecoin crashes, and more.
OptionRoom (ROOM), a Polkadot (DOT) -based protocol for oracle and forecasting markets, is also on Wainman’s list.
“You have oracles, you have prediction markets, you have polkadot rolled into one. It’s a lot of sauce and it comes out with a very small market cap … you can see that your fully watered down market cap starts from that $ 5 million. This is FDV. That’s not circulating market capitalization. That’s all of their tokens and all of the value of them …
The point is, they have a bunch of features that a bunch of big projects don’t even combine, and they start off with a tiny market cap. “
On Ethereum, Wainman says the leading smart contract platform has more upside potential even after a new all-time high is pushed as the fundamentals of the second largest crypto asset remain promising.
“Ethereum, with everything going on with the NFTs (non-fungible tokens), DeFi (decentralized finance), it’s really hard to argue that this is anything but undervalued, especially as they figure out how to get it a bit more scaled. For me, ETH is just that amazing, amazing sauce draw and the tip of the spear for all altcoins. “
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