- Lark Davis explains that the possible approval of a Bitcoin ETF could send the price of the asset to the moon.
- He mentioned that using the Polygon network is one out of a hundredth of the price of the basic Ethereum transaction.
The crypto market is going through a boring phase. But with a new month comes new opportunity. According to a crypto influencer and Youtuber Lark Davis, four cryptos can still bring massive gains as they have some laid-out catalysts. In a video, the analysts revealed four cryptos that are likely to explode and outlined the different reasons why.
Ethereum, the second-largest cryptocurrency by market cap, has a big catalyst coming in July. Just recently, Ethereum London Upgrade was launched on the testnet. Davis mentioned that the much anticipated EIP 1559 which is part of the London Upgrade could send the price to a new height.
If no major problem is encountered, there will be an upgrade on Ethereum in about two or three weeks.
The upcoming EIP 1559 will make the fee more dependable and make layer 2 integration for Ethereum better. The digital asset will also undergo a massive transformation into a deflationary cryptocurrency. In the video, he explained that the fundamental factors, both technologies, and innovations that caused its price to hit an all-time high are still in place and will propel the asset to new highs again.
According to Davis, Bitcoin could be getting ready for a big move. This will be much influenced by the recent Bitcoin Exchange-Traded Fund (ETF) applications awaiting approval from the SECs. Cathie Woode’s Ark Invest recently joined the Bitcoin ETF race.
He also mentioned that the quality of this application comes from the biggest and multi successful companies that can influence Bitcoin positively.
Even if it takes until the end of July or August or even December, one of these companies will get approval.
When the Bitcoin ETF gets approved, the price will explode with money flooding into Bitcoin before eventually trickling down to other assets.
Cardano has an incredible community behind its project. It recently added 50,000 new staking addresses in just three weeks. This explains that many Cardano holders are coming on board to stake their assets. Cardano is in the Smart Contract era. This means, there will be new additions to its basic “staking ADA for ADA” use case.
The Cardano Smart Contract will see an explosion in NFTs, liquidity aggregators, decentralized finance, borrowing and lending services, and many others. This huge project is currently on the testnet, and the hype before its main launch could bring massive gains to ADA investors.
Davis disclosed that he has been very bullish on Polygon. It has a lot of positives. Speaking to scalability and gas fees he noted “using the Polygon network is one out of a hundredth of the price of basic Ethereum transactions.” This means Polygon has a clear use case.
I did a transaction on Defi yesterday, and it cost me about 35 to 50 bucks, and It was more complicated and interactive with the Defi protocol. If you are going to send some Ether or USDC, it is cheap using the Ethereum network. However, it is going to be brutal if done with defi.
According to Davis, many Ethereum applications are integrating with polygon because it is an Ethereum compatible project.