Cryptocurrency Analyst and Trader Ivan Liljeqvist unveiled the five altcoins he believes will explode in the next crypto cycle.
Popularly know as Ivan On Tech in his latest video says that, Even though Binance Smart Chain has taken over the market in the month of February, Ethereum is not going to back down. Ethereum based layer 2 scaling solutions could achieve a strong foot in the next bull run phase of the market.
“Ethereum is not just going to stand behind and that’s what we’re witnessing right now with layer twos…I do think that right now, the next step will project moving from layer one on ethereum to layer 2”.
The problem with Ethereum currently is fragmentation. Layer 2 will be the solution to this, it will reduce the network congestion on Ethereum by processing some operations off of the main chain. This will enable the platform to process a high volume of transactions quicker and cheaper.
Moving further he talks about the potential of Matic and Quickswap. He compares quickswap to uniswap and believes it would witness a great performance. On the sidelines, he even mentions that his prediction on pancake swap did turn out to be true.
“It’s very important to study and analyze the different layer two alternatives because we’re going to concentrate on one of them. It can either be Matic(Polygon). Matic right now is probably leading the way if you look at different projects that are launching on Matic. On Matic, you do have Quickswap and they do have a way to trade all kinds of assets on Matic through Quickswap, kind of like Uniswap”.
He urges his viewers to check and keep an eye on other promising layer 2 solutions such as Honeyswap and Starkware.
“ On xDAI, you guys have to try Honeyswap(HNY), And also. Look out for dYdX, dYdX is going to do on Starkware, So you see three different solutions on Ethereum: xDAI with Honeyswap, Matic with Quickswap, and dYdX, they’re doing on Starkware”.