An influential figure in the cryptocurrency market and the famous trader, Lark Davis, named 5 altcoins that will take off in the near future. He suggests that August will be a significant month for these currencies, they will break their maximum and bring incredible profit to their holders. This list includes 5 altcoins:
– Ethereum (ETH);
– Polkadot (DOT);
– Polygon (MATIC);
– Terra (LUNA).
The first place in his list of cryptocurrencies, Lark Davis, gave the world’s second coin in terms of market capitalization, ETH. This cryptocurrency in early August will receive an update to London Hard Fork, which will completely change the models of transfer fees on the Ethereum network. Lark Davis says this update acts as a big catalyst that will spark a more optimistic attitude toward the Ethereum network in August. At the time of the release of the article, Ethereum is trading at $2 606 with its market capitalization $ 289,055,574,731.
The second coin doomed to success, according to Lark Davis, is the Matic project from the Polygon network. This is one of the first platforms that has a good and simple structure for increasing the scale of the Ethereum blockchain with a developed infrastructure. The main component of the platform is the Polygon SDK – it is a flexible and modular system that has support for creating several types of applications. This network is a comprehensive solution for scaling level 2, which is supported on cryptocurrency exchanges Binance and Coinbase.
The main goal of this project is to stimulate the introduction of cryptocurrencies into the masses by solving many problems in most blockchains. At the time of the release of the article, Matic is trading at $1.08 and amounts to $ 6,787,055,086 of market capitalization. Recall that in May of this year, the maximum price of Matic reached the level of $2.45. Lark Davis suggests that Matic can outperform this figure at times:
I think this coin has a huge amount of energy. The next price guidance, regarding this coin, which I see in the future when the market becomes bullish, is $5 and $10.
The third coin from the Lark Davis list is the LUNA cryptocurrency, which is its own decentralized token from the Terra payment network. It uses stablecoins that are tied to fiat currency to enable global payment systems. LUNA serves as a system for stabilizing the zuna from the steeblokin protocol. LUNA holders can create and vote for management proposals. The trader names several key points that will help the LUNA token take a leading position in the near future, including the upcoming update of the Columbus-5. This update will add support for famous technologies such as Solana (SOL) and Cosmos (ATOM). At the moment, LUNA’s market capitalization is $ 4,591,269,796, and the coin is trading at $11.54.
Following the coin from the Lark Davis list is Polkadot Technology (DOT). Open Source Multi-Chain Protocol Token. It simplifies and accelerates the inter-chain transfer of any type of data and any assets, providing the opportunity to combine a wide range of blockchains that are compatible with each other.
The Polkadot DOT token has three tasks:
– accurate network management;
– control of operations taking place in this network;
-Creates parallel chains.
Lark Davis gives an explanation of why this coin has every chance of taking the lead:
We moved into the Polkadot era – parachains have become more than a reality. Parallel chains will appear in the near future in all blockchains, so we will see a lot of interesting things around this project.
The last coin doomed to success at the end of August, according to Lark Davis, is ADA. Cardano is one of the world’s largest blockchains using Proof-of-Stake technology. ADA is the guarantor that the owners themselves participate in the network. This entitles ADA owners to vote for any software changes.
Lark Davis claims that ADA is representative of one of the strong coins for this year, the price of which increased by 60 times. In September, it is planned to implement smart contracts built on this technology, which will serve as a condition for the further success of this coin. At the time of the release of the article, ADA’s market capitalization is $ 42,266,290,785 and traded at $1, 35.
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