Well-known trader and Crypto Influencer Ben Armstrong in a new video lists out 10 hottest Defi protocols, that are poised to rise high in the forthcoming Defi resurgence.
The analyst tells his 760K subscribers, that the best way to spot the top projects is the list on CoinmarketCap.
First up on that list is Uniswap, the popular crypto Defi platform in the market. Which is believed to be branching out to other smart chains like Binance smart chain.
Armstrong believes it still has the potential to grow and is a very profitable project, he says even though Binance is now the number one Dex Uniswap has the potential to take over.
“Uniswap in my opinion has more current potential than BNB”
His second pick is the Oracle project Chainlink(LINK). currently at #10 on the charts, and #2 Defi project. It has bagged partnerships with various projects and chains including some market giants.
The trader believes it has the potential to make it to the top 3 by the end of 2021. He also mentions even though it has been stagnant lately, it is getting ready to break out soon.
Moving further, he picks Terra LUNA, which shot up last month making a 200% gain for traders.
Armstrong says, it has great potential but a further correction is to watch out for, and not make an investment out of FOMO.
His next pick is the multi-chain Defi ecosystem Avalanche. He thinks it has great potential and will make it to the top 20 soon, and should definitely be kept on the radar.
“Polkadot a multi-chain ecosystem pumped all the way to No 3 at one time. Cosmos, however, has done well but stalled out many times. It’s yet to be seen where Avalanche is going to end up, but it’s one I definitely like adding long-term positions too.”
The next interesting pick is the Defi lending protocol Compound, which is one of the top pure Defi projects.
The analyst points at a recent news update of someone moving $1.3B into Compound and says it has made huge profits for its investors all year.
The last pick is Synthetix SNX which he terms as his Defi pick of the year.
He says, although it has not surged above $20, it has shown recent movement and is set to bounce back.
” I think when you compare the use cases of the top Defi projects and look at their relative Defi ranking, no project has bigger upside to me than SNX, it should be a top 20 project at least.”
Additionally, he mentions Sushiswap, ZRX, and Fantom as potential projects to shoot up soon.