Popular crypto trader and analyst Lark Davis has updated his followers with a method for discovering altcoin gems that have the potential to generate 100x gains.
In a recent video, Davis outlined his method of looking for decentralized finance (DeFi) protocols operating on blockchains besides ethereum. He said typical Ethereum-based DeFi projects were struggling under rising gas fees, creating a void for other products to introduce competition.
He said,
The high fees are creating a big opportunity for DeFi on other chains right now. For example, Cosmos (ATOM) SDK-based DeFi is probably one of the most underrated things happening right now in crypto.
Davis highlighted KAVA, HARD and INJ as several projects that were chasing reduced fees for users, offering a substantial discount over Ethereum-based products.
The popular trader also claimed to be keeping a close eye on projects being launched on Polkadot (DOT). He noted DOT’s ability to provide interoperability between cryptoassets as a feature with substantial upside.
He said,
The highest market cap DeFi coin on Ethereum? It’s around $6 billion, meaning that if any of these DeFi protocols coming to Polkadot can reach similar levels in the future, it’s a 60x gain for the most expensive current Polkadot-based DeFi protocol.
Davis told followers to focus on token sales in order to find undiscovered gems, saying they provide big returns for investors with gains of “50x or more.”
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
