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Cryptocurrencies are rapidly growing and the question now is Which are the next big altcoins? Crypto analyst Lark Davis brings into notice four altcoins with a high potential of reaching new heights in the coming months.
Bridge Mutual (BMI) is a newly established, but prominent DeFi insurance provider. Launched on 30 January with an initial IDO of $0.125 the token went all the way up to $5.46 on February 3. It surged around 540%. Davis explains that insurance is an underrated sector and it’s incredibly important too. BMI arrived as a fresh challenger for Nexus mutual as BMI has several impressive partnerships.
Davis was bullish for Sifchain Finance (ROWAN), an omni-chain DeFi exchange supporting cross-chain transactions.
“The plan here is for Sifchain to support cross-chain transactions for about the top two dozen blockchains. Massive, massive in scale.”
It is also collaborating with Thorchain team whose RUNE token is presently sitting at a market cap of over $2 billion.
Liquid staking platform RAMP is up next on his radar. RAMP price today is $0.485434.
Let’s say you’re staking a coin like Tezos (XTZ). You’re getting your 5% a year reward for doing so but for every $5 of rewards you get, you need to have $100 worth of Tezos locked up… What Ramp allows you to do is to unlock that value, giving you a dollar stable coin in exchange for the total value of your stake. You can then use those dollar coins to go out and do yield farming in DeFi (decentralized exchange) or you can do lending.
Through this platform he speaks about doubling, tripling or even quadrupling the gains.
Launched on the Binance smart chain LINA is the fourth token. It has the ability to lock up tokens to mint liquids, the protocol also allows users to access traditional assets like forex. Due to the cross-chain approach, there is an advantage of a reduced fee.
The idea here is that you use your LINA tokens… it uses collateral at a five to one ratio to create synthetic LUSD tokens. You lock LINA tokens then actually earn 90% APY (annual percentage yield) in staking rewards… With the LUSD synthetic dollars, you can then buy assets like Bitcoin or Japanese yen, or silver, gold, or euros, or whatever else, Cardano (ADA), Polkadot (DOT), all synthetic, of course, using the Linear Finance exchange.