Crypto analyst Lark Davis says a new smart contract platform could be the sleeper of the current crypto bull cycle.
Watch out for 5 crypto assets
In a new video, Davis points out five crypto assets that he believes will make huge gains in 2021. All of his top four choices are among the top ten assets by market value, but the analyst’s final choice may surprise some.
The smart contract platform Elrond (EGLD), ranked 49th in overall market value, is Davis’ unicorn pick for this season.
Highlighting Elrond’s strong tokens and numerous partnerships, Davis says he believes the latest hype surrounding the platform is well deserved.
“Elrond has more partners than most chains that have existed for three or four years. Incredible, the ecosystem they already built is amazing. Elrond was able to really create this incredible external system only behind Ethereum or Polkadot.
The Elrond team also developed crypto wallets of the past with the Maiar digital wallet.
Now this is a big leap forward in terms of crypto wallet technology. So what Maiar wallet does is create a unique and secure account since you are actually registered on the blockchain and do so using the encryption power of the user’s phone number. So this move is an interesting extra layer of security and technology for your crypto wallet. ”
Except for Elrond, Davis highlights the four biggest players in the field as projects that will emerge during this bull cycle. Of great value, Ethereum (ETH) is the most well-known smart contract platform.
“Now that Ethereum 2.0 Genesis is launched in December, I feel that nothing can stop Ethereum’s rise to continue to definitely dominate the smart contract platform space. Let’s accept the fact that DeFi is the undisputed home of most of the major protocols built on Ethereum. In addition, the chain gained more value than Bitcoin in 2020. He will probably do this again in 2021. ”
Its rise in smart contract platforms does not end there: Cardano (ADA) is also optimistic, especially after the launch of staking rewards in 2020, giving investors a lot of confidence in the “slow-shining cryptocurrency”.
“If Cardano finally fulfills his grand vision, then it will be a force to be reckoned with. Smart contracts are currently planned to be fully available on the chain in the 1st quarter of 2021. This is going to be really big. It will eventually enable Cardano to really just build a strong ecosystem. ”
It is none other than Polkadot (DOT), the other smart contract platform where Davis is on the rise. While he predicts that many assets built on Polkadot will be good investments, he recommends buying DOT, a “slower, safer game” that acts as a broad index of the entire ecosystem. The analyst says Polkadot could reach $ 100.
Davis is also feeling optimistic about Chainlink’s best oracle network.
“With so many new DeFi players entering the industry, I hope the number of applications using Chainlink will at least double, if not more, in 2021. A $ 100 Chainlink? It doesn’t really look all that crazy at this point. Honestly, during this bull run, I think it will probably be worth a few hundred dollars, considering the community, considering the technology, considering the excitement. ”