Crypto Guru Unveils Best Altcoins To Buy Now
June 03 2024 - 8:00AM
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In a recently published video titled “Best Altcoins To Buy Now,”
crypto influencer Lark Davis shared his latest insights on
promising altcoins with his 546,000 YouTube subscribers. Known for
his candid and straightforward approach, Davis emphasized the
speculative nature of his recommendations and the inherent risks of
crypto investments. Davis began by acknowledging Bitcoin’s role as
the premier digital store of value, noting that while it remains
the most secure asset in the crypto space, it is unlikely to
deliver the high returns that some altcoins can offer. “If you’re
after life-changing gains, then you have to risk life and limb in
the altcoin jungle,” Davis remarked, underscoring the potential of
altcoins to yield substantial returns, albeit with significant
risks. He pointed out that Bitcoin, while being a solid choice for
wealth preservation, probably won’t deliver 100x or even 10x
returns in the near future. The approval of spot Ethereum ETFs is a
significant development that Davis believes will bring attention to
other altcoin projects, setting the stage for a broader “altcoin
season.” He acknowledged that while memecoins often gain the most
attention during these times, other projects with real utility
deserve closer scrutiny. Davis expressed his intent to highlight
coins with actual use cases, as these have better chances of
surviving market cycles and potentially achieving long-term
success. Best Altcoins To Buy Now The first altcoin Davis
highlighted is Jupiter (JUP), a decentralized exchange (DEX)
aggregator built on the Solana blockchain. Jupiter stands out due
to its ability to consistently offer the best token prices by
aggregating data from multiple exchanges. Davis emphasized the
importance of Jupiter’s user-friendly interface, which simplifies
the onboarding process for new users entering the DeFi space. This
ease of use, combined with Solana’s recent popularity driven by
memecoins, positions Jupiter as a key gateway for traders looking
to capitalize on emerging trends. Davis detailed Jupiter’s
significant trading volumes, noting that it frequently surpasses
Uniswap. In March and April, Jupiter achieved $47 billion and $35
billion in trading volume, respectively. He highlighted Jupiter’s
perpetual exchange feature, which offers up to 100x leverage, as a
significant attraction for traders seeking substantial gains.
Moreover, Jupiter’s staking rewards model incentivizes
participation in project governance, providing stakeholders with
additional benefits such as incentivized tokens, launchpad fees,
and airdrops. Davis mentioned Jupiter’s plans to expand into the
forex and stock markets, which could further enhance its utility
and market position. Related Reading: Dogecoin Whales Buy $112
Million Worth Of DOGE As Crypto Investors Turn Their Attention To
Meme Coins Next on Davis’s list is Aerodrome (AERO), a DEX
operating on Coinbase’s Base ecosystem. Davis underscored the
strategic advantage of having Coinbase, with its extensive user
base of over 120 million, backing the Base ecosystem. This support,
combined with the upcoming introduction of smart wallets to
simplify user onboarding, gives Aerodrome a significant edge.
Although there is no native token for the Base ecosystem yet, Davis
believes Aerodrome’s token could serve as a viable alternative,
benefiting from its role as a major DeFi platform within the
ecosystem. Davis pointed out Aerodrome’s impressive total value
locked (TVL) of around $700 million and a market cap of
approximately $500 million. He suggested that as more Coinbase
users engage with the Base ecosystem, the Aero token could see
substantial appreciation. Davis revealed that he has increased his
holdings in Aerodrome, confident that the platform’s growth
potential aligns with his investment strategy. Davis also discussed
SubSquid (SQD), describing it as the “Google of blockchains.”
SubSquid is a comprehensive blockchain indexing solution designed
to facilitate quick and cost-effective access to on-chain data.
Davis explained that SubSquid acts like a decentralized filing
cabinet, organizing data from multiple blockchains to enable
developers to build decentralized applications (dApps) without the
burden of slow queries. Supporting over 100 networks and utilized
by more than 5,000 dApps, SubSquid offers a robust infrastructure
for blockchain development. With a total token supply of 1.34
billion and a market cap of around $21 million, SubSquid presents a
compelling investment opportunity, according to Davis. He compared
SubSquid’s market position to that of The Graph (GRT), which boasts
a market cap of $3 billion, suggesting that SubSquid has
significant room for growth. Davis mentioned his participation in
SubSquid’s private sale and his current holding strategy, watching
for the project’s development and market performance. Related
Reading: Market Analysis: How Will Mt. Gox’s Bitcoin Distribution
Affect Crypto Prices? The Oasis Network (ROSE), a layer-1
blockchain focused on privacy and scalability, was another
recommendation. Davis highlighted its unique two-layer
architecture, which separates consensus and smart contract
execution to enhance privacy and scalability. This structure makes
Oasis suitable for applications in finance, artificial intelligence
(AI), and the metaverse. Davis emphasized the importance of privacy
in blockchain applications, especially for attracting institutional
users. He likened Oasis’s approach to Polkadot’s independent
parachains and Avalanche’s subnet infrastructure. Davis pointed out
Oasis’s robust ecosystem fund, supported by prominent investors
such as Binance Labs, Pantera Capital, and Jump Capital. The
network’s ongoing rebrand aims to emphasize its focus on
decentralized AI, aligning with current market narratives.
Collaborations with projects like the Ocean Protocol and the
involvement of notable figures in AI further bolster Oasis’s
credibility and potential. The native token, ROSE, has a market cap
of around $600 million and a maximum supply of 10 billion coins.
Davis disclosed that he acquired a significant amount of ROSE
during the bear market and continues to monitor the project’s
progress. Finally, Davis discussed Fantom (FTM), a layer-1
blockchain designed to challenge Ethereum’s dominance. He
highlighted the upcoming Sonic upgrade, which will transform Fantom
into a new blockchain, replacing the original. This rebrand,
accompanied by technical enhancements, could drive significant
interest and investment in Fantom. Davis praised Sonic’s impressive
transaction speed of 2,000 transactions per second and sub-second
finality, noting that these features position Fantom as a strong
contender in the blockchain space. Davis revealed that he secured a
substantial position in Fantom through an OTC deal and later
doubled his holdings by purchasing more on Binance. He emphasized
the potential of the Sonic upgrade to attract attention and
investment, driven by the involvement of popular developer Andre
Cronje. With on-chain statistics improving and renewed interest in
the Fantom ecosystem, Davis remains optimistic about its prospects.
In closing, Davis reminded viewers of the speculative nature of
crypto investments and the importance of conducting thorough
research. “Just because I like these coins doesn’t mean they’re
guaranteed to succeed,” he cautioned. Davis’s insights reflect the
dynamic and high-risk environment of the cryptocurrency market,
where informed decision-making is crucial. At press time, JUP
traded at $1.0977. Featured image created with DALL·E, chart from
TradingView.com
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