Crypto trader and analyst Ivan Liljeqvist has made a statement for three altcoins that he believes have the potential to explode next month.
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The trader, also known as Ivan on Tech, says he personally holds the PancakeSwap (CAKE), a decentralized exchange (DEX) running on Binance Chain, in a new episode of The Moon with Carl Martin.
“I think soon PancakeSwap will have more volume than Uniswap (UNI). Why will it be like this? Because you currently have very high fees on ETH (Ethereum). This is because people using ETH normally make large transactions. If you have done 10x in your trade on Uniswap, you don’t care if the fee is $ 10 or $ 100. Even $ 500 is ok because you made 10x …
Now they’re doing great work with Binance Chain. You may have lower fees. People know it’s even more centralized but they don’t care. Why is that? Because there is the same functionality but lower fees. ”
In the last 24 hours, PancakeSwap’s transaction volume is US $ 1.04 billion compared to Uniswap’s US $ 905 million.
The second coin on Liljeqvist’s radar is the 1inch DEX adder. According to Ivan on Tech, 1inch has witnessed a lot of growth as it is among the three most used in decentralized finance (DeFi) application.
The last coin on Liljeqvist’s list is Matic, a two-tier blockchain scalability platform, now rebranded as Polygon.
“The second layer is now being adopted. Many projects I know of, Polygon is expanding into old Matic. The second tier is the next frontier for this entire Ethereum space. Because the wages are too high. For example, it is good that we are solving this problem with Matic or Polygon now. ”
The crypto trader also emphasizes that Polygon is one of the two-layer solutions that has experienced real adoption.