Lark Davis cited five cryptocurrencies that he believes will grow in the next month ahead of important events
Crypto trader from New Zealand Lark Davis (257 thousand subscribers on YouTube) named the most promising, in his opinion, cryptocurrencies, which will show growth in April.
Davis recommends paying attention to the Kusama token. The trader claims that by the end of the current growth cycle, its value may reach “several thousand dollars”. As of March 29, according to Coingecko, the token is trading at $ 535. Over the past year, the cryptocurrency has grown by 28,000%. According to the trader, the market's attention to Kusama will be riveted due to the launch of the Polkadot parachain.
“Parachain auctions are going massive, this is one of the biggest events to happen in the crypto industry this year, and it will cause a shortage of Kusama. Most of the tokens will be locked for a period of 6 to 24 months, ”explained Davis.
The Kusama is a "test" seat designed exclusively for experimenting with Polkadot technology. Kusama acts as a decentralized testing ground where blockchain developers can create their own products and test the capabilities of the Polkadot protocol in a real environment.
Throughout April, the Uniswap token will rise in price ahead of UNI v3, which is scheduled for May 5, the crypto trader said. The upgrade will go a long way for the token infrastructure, he said. At 10:30 AM ET, Uniswap is trading at $ 28.23. Since its launch in mid-September 2020, the cryptocurrency has risen by 720%.
"The upcoming update could be a good catalyst for the asset's growth throughout April, as people seem to be raising the price in anticipation of UNI v3," Davis said.
Uniswap is a token of a decentralized cryptocurrency exchange. It allows users to exchange ERC20 tokens without having to use the traditional exchange order book model.
The crypto trader called the RAMP token a promising one. In March, its price rose to $ 1, now it is trading at the level of $ 0.65. Since October last year, RAMP has risen in price by 3511%.
“Liquid staking has a billion dollar marketplace available. Literally every major proof-of-stake chain, including Ethereum (ETH) … Polkadot, Avanlanche (AVAX), will be able to use RAMP. This will provide more opportunities and greater value for the participants in these chains, ”the trader emphasized.
RAMP is a decentralized protocol that is designed to accelerate the adoption of DeFi by allowing non-Ethereum users to deposit tokens on ETH platforms.
According to Davis, the Elrond community is now awaiting the Elrond DeFi 2.0 update, which will improve cryptoasset functionality for new stablecoin standards, non-fungible (NFT) token standards, exchange, lending and other features. At 10:30 Moscow time, the token is trading at $ 143.47. Since September 2020, it has grown by 715%.
“The Elrond DeFi 2.0 module is definitely very ambitious in terms of functionality. The project team is working hard, constantly developing technologies, consistently delivering products and maintaining partnerships,” added the crypto trader.
Elrond is a blockchain platform for building high performance and secure applications (DApps) based on smart contracts. The platform is creating a global digital economy by enabling blockchain interoperability.
Cere Network (CERE)
The last token mentioned by Davis is still in development, but the trader thinks it is worth taking a closer look at. Cere Network in the near future, according to Davis, may enter large cryptocurrency exchanges, since the investor of the token is the largest cryptocurrency exchange Binance.
“CERE will place great emphasis on interoperability, linking with other major networks, so the token can receive support from Polkdadot, Binance, Cosmos, Ethereum and other large projects,” the trader said.
Cere is a decentralized data cloud (DDC) platform powered by Binance Labs. Its cross-chain compatibility with networks such as Binance Smart Chain, Polkadot, Cosmos, Ethereum and others gives Cere a unique opportunity to connect the largest enterprise companies with the fastest growing decentralized ecosystems.