- Projects based on Polkadot (DOT) will face constant buying pressure due to the “locking” model.
- The list of altcoins with the potential for “crazy profits” include Kylin, Polkadex, Fractal and Moonbeam.
Crypto investor and influencer Lark Davis has released a new video in which he readjusts his position on Polkadot (DOT). Followers of his channel know that Davis claimed earlier this year that DOT will be one of the top-performing cryptocurrencies of 2021, targeting $100. However, the investor now believes the price could be $300.
In that regard, Davis presented the best projects in the Polkadot ecosystem that are preparing to embark on a “moon mission.” Among the reasons that have propelled DOT’s price toward its highs is the excitement over its ecosystem and the release of an updated version of its roadmap setting the rollout of its parachains, as Davis stated:
In a few months, Ethereum’s biggest competitor will go live with an incredible ecosystem backing it. A big percentage of DOT supply will be “locked” into that parachain (…).
Davis said Polkadot’s model requires a large portion of its supply to go through such a “locking” process. Thus, it will create a “massive demand” for DOT and the projects in its ecosystem. These will have “constant buying pressure,” he added:
Polkadot will be the area with crazy gains in 2021, there is a lot of excitement and hype around this ecosystem.
Polkadot based projects with potential “crazy profits”
Davis told his audience that they will get higher returns by investing in tokens from the Polkadot ecosystem, among his favorite projects are Kylin, Polka Dex, Fractal, and Moonbeam. These have the potential to climb up to 100x, although they have a higher investment risk than the native token DOT.
The first one on Davis’ list is Kylin (KYL), an oracle platform with cross-chain capabilities that will feed the ecosystem with data and provide a data marketplace. Davis believes that early adopters of this project will become “giants” in the long run. As the influencer puts it, “DeFi doesn’t work without oracles, Kylin could be Polkadot’s Chainlink.”
With 300 transactions per second on its testnet versus Uniswap’s 15 transactions per second, Davis also introduced Polkadex, a decentralized exchange destined to catch the attention of investors. Eventually this DEX could process up to 20,000 transactions per second featuring interoperability with assets on Ethereum, as Davis added:
Polkadex has the opportunity to be one of the largest exchanges on Polkadot because of its advantage as early movers. It even has a web3 grant which is like a certificate of approval from the team behind Polkadot. The mainnet will be launched in the first half of this year. The public sale should happen soon.
Moreover, Fractal is a privacy-oriented standard for the exchange of information between users. The team behind the project has been working on the project since 2017 and Davis believes they have a lot of experience and big cooperations. Among them are the OCEAN protocol and Polka DEX. Fractal will be launching on Polkastarter in a few days.
The last on Davis’ list is Moonbeam that has “features with massive upside potential”. Davis elaborated:
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(…) Moonbeam It’s working on creating the multi-chain future and will be a parachain that’s going to be fully compatible with Ethereum smart contracts. This is massive because making an effective bridge between Polkadot and Ethereum will allow Polkadot to easily tap into Ethereum’s incredibly deep liquidity across the DeFi (decentralized finance) and all that stuff with a lot of ease.
