Analyst: Ethereum and these four coins to explode in december

  • Analyst Lark Davis predicts, that Ethereum, XRP, AAVE, AXS and Polkadot will rise in december.
  • The DeFi market and all protocols could see a strong growing adoption in the next months.

With the crypto market looking to recapture the momentum it lost towards the end of last week, investors are on the prowl for profit opportunities to pounce on. Lark Davis, a crypto influencer and analyst, has revealed some top digital assets for investors to watch as 2020 comes to a close. In a recent YouTube video published last weekend, Davis highlighted some attractive digital assets for investors to consider in December.

Davis started with popular digital assets XRP and Ethereum. He believes ETH 2.0 could be a game-changer for Ethereum and the crypto ecosystem as a whole. Davis also touched on XRP and the effect the Spark token airdrop in December would have on its price. Besides these large-cap cryptocurrencies, the analyst also spoke on three hot newcomers that are making quiet moves.

The Aave v2 hype should push AAVE

First on Davis’ list is decentralized finance (DeFi) lending token Aave. This is currently the third-ranked lending protocol on DeFi Pulse, behind Maker and Compound. However, as Davis pointed out, the project has launched v2 on testnet, which could attract an influx of users when it moves to mainnet.

Davis also highlighted some of the benefits that Aave v2 will provide. These include optimized transactions, a reduced number of transactions required to interact with the protocol, reduced gas fees, fixed rates for deposits, and more.

The protocol also announced an update that now sees governance transferred to token holders. The move comes following a vote in favor of the Aave Improvement Proposal (API), which launched a migration functionality from the LEND utility token to the new AAVE governance token at a 100:1 rate.

Davis believes that Aave could lock into some lucrative markets with so much development to come and provide insane returns to users.

AXS and the growing blockchain gaming space

Second on Davis’ rank is Axie Infinity (AXS), a non-fungible token that powers the Axie blockchain-based game. The Axie game combines NFT and blockchain gaming – two emerging blockchain fields. With Axie Infinity powering it, an increase in adoption should see the token grow in value as well. Comparing Axie to Pokemon, Davis explained:

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If you think that rare Pokemon-like game ideas is a silly idea, then take into account that actual Pokemon cards have been exploding in price recently. Gaming is super hot. If this game catches on, then it could be really big.

Davis added that the game also has some big-name backers, including game developer Ubisoft, tech giant Samsung, HTC, Binance, and MakerDAO. The analyst also highlighted that Axie Infinity is in its early days of adoption. Its price is relatively low, which means investors could get in on the action and hodl. At press time, Axie Infinity is currently trading at $0.44.

Polkadot and Parachain incorporation makes KSM attractive

Davis’ third pick is Kusama – an experimental version of the top blockchain interoperability protocol Polkadot. Kusama launched in July 2019, with Polkadot claiming that the asset will be useful for developers looking to build and use parachains.

Kusama also allows developers to test several of Polkadot’s functions – including staking and governance – in a real environment. The project’s native asset, KSM, saw some significant gains this year, after it rallied from about $10 to an all-time high of $35 in August 2020. KSM has since broken the record and is now trading at $51.70 – up 8 percent in the last 24 hours.

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Considering that the asset came into the year trading at $1.5, its performance in 2020 has been rather impressive. Davis also highlighted that Kusama has fed on the Polkadot hype, with the latter becoming a more reliable blockchain for DeFi projects.

Kusama is also set for an upgrade that should see it host 100 parachains as of January 2021. Davis notes that this process should happen slowly, and it will see competing parachains trying to get on Kusama. This should start a significant bidding war that will drive KSM prices up and benefit investors.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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