According to crypto analyst Lark Davis, a new smart contract platform could be the sleeper hit of the current crypto-bull cycle.
In a new video, Davis sheds light on five crypto assets he believes will generate massive profits in 2021. His first four picks end up in the top ten assets by market cap, but the analyst’s final pick might surprise some.
The intelligent contract platform Elrond (EGLD), which ranks 49th in total market capitalization, is Davis’ “dark horse” pick for this off-season.
Highlighting Elrond’s strong tokenomics and numerous partnerships, Davis believes the recent hype surrounding the platform is well deserved.
“Elrond is basically everything that ETH 2.0 wants to be, but today. They even had a massive shake in tokenomics with an urge for Bitcoin-like scarcity and Ethereum-like functionality … I think this is going to be an all-time bull run star so make sure you have this one on your radar …
Elrond has more partners than many of these chains that have been around for three or four years. It’s incredible what ecosystem they have already built … Elrond really only created this incredible exosystem behind Ethereum or Polkadot. “
The Elrond team has also improved crypto wallets of the past with the Maiar digital wallet.
“This is a big step in terms of crypto wallet technology. So the Maiar wallet actually creates a unique and secure account for you that is registered on the blockchain using a cryptographic hash of the user’s phone number. So this is an interesting additional layer of security and technology to add to your crypto wallet. “
In addition to Elrond, Davis highlights four of the greatest players in space as projects that will become the moon during this bull cycle. The first big-cap game is Ethereum (ETH), the best-known smart contract platform.
“Now that we launched Ethereum 2.0 Genesis in December, nothing can stop the rise of Ethereum to continue to absolutely dominate the smart contract platform space. It is the undisputed home of DeFi with most of the major protocols based on Ethereum. It also put more emphasis on the chain than Bitcoin in 2020. It will likely do so again in 2021. ”
His upward trend in smart contract platforms doesn’t stop there: he’s also optimistic about Cardano (ADA), especially after the stake premiums started in 2020, which gave investors great confidence in the “slow-burn coin” .
“When Cardano finally realizes its great vision, this will be a force to be reckoned with. Smart contracts are currently planned and will be fully rolled out in the chain in the first quarter of 2021. This will be very big. It will finally allow Cardano to really just build a strong ecosystem. “
The other smart contract platform Davis is bullish on is Polkadot (DOT). He predicts that lots of assets built on Polkadot will be good investments, but recommends buying DOT, a “slower, safer game” that acts like a broad index of the entire ecosystem. The analyst says it could hit $ 100 on this bull run, more than ten times its value at the time of writing.
Davis is also bullish about the top Oracle network by market cap, Chainlink.
“Given the huge number of new DeFi players in the industry, I would expect the number of applications using Chainlink to at least double, if not more, in 2021 …
A $ 100 chainlink? It doesn’t even seem that crazy at this point. To be honest, it’s probably worth a few hundred dollars during this bull run given the excitement, community, and technology. “
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Featured image: Shutterstock / Tithi Luadthong