- Polkadot is one of Davis’ favourite coins and once again it has made the shortlist after setting a date for its Parachain auction.
- Terra has recently confirmed that there will be over 160 projects launching on its network.
A majority of analysts and investors backed the crypto market ending 2021 on a record high and so far the market has not disappointed. In the last few days, with top coins like Bitcoin setting a new all-time high, the total market cap has also surpassed $2.6 trillion marking its new all-time high. Although much attention has been focused on the top two coins and the up and coming meme coins which have been posting astronomical returns, a few more coins that are under traders radar hold much promise for investors in the coming weeks.
Market analyst Lark Davis has on his YouTube channel shared his top five picks for November. Here are market analyst Lark Davis’ top picks;
Lark Davis has defined the project as the next Ethereum 2.0. The analyst adds that the project has been steadily building and getting attention from the wider community. The platform is on the verge of launching a number of protocols including its DeFi ecosystem and a launchpad. Founder and CEO of Elrond, Beniamin Mincu has recently revealed that in November, the platform is set to launch the Maiar DEX. According to Davis, this is basically UniSwap but for the Elrond ecosystem.
The Maiar DEX is launching in November. 🌕
— Beniamin Mincu ⚡ (@beniaminmincu) October 22, 2021
On top of the DEX which is guaranteed to get investors interacting with the platform, the Elrond standard token is set for launch in the coming weeks. One of the protocols ready to move forward with this is Audi-backed holoride which is building on Elrond.
Polkadot is one of Davis’ favourite coins and once again it has made the shortlist. For starters, because it has finally set November 11 for its Parachain auctions. For some time now all the excitement has been on the Kusama parachain auctions. Davis notes that Polkadot excitement will be on an even higher level as it welcomes even more money. Moonbeam, Enjin, and Parallel Finance are some of the projects going for the first five slots and the competition is set to be fierce.
We are delighted to announce Parallel’s partnership with Astar on the upcoming Polkadot parachain auctions. Through Parallel’s platform-Auction loan, the community can contribute to Astar’s crowdloan and earn up to 6% additional bonus in $ASTR tokens on top of the base rewards. pic.twitter.com/ayNPEn5CGd
— Parallel Finance (@ParallelFi) October 28, 2021
With the excitement around this launch, Polkadot (DOT) has nearly doubled its price in the last month. Starting around, $27, the coin recently topped at $46 before experiencing a pullback.
Lark Davis notes that the Parachain on Kusama is the “baby brother of Moonbeam.” He adds that the project has gathered a lot of attention from its community, technology and backers. He defines the project as basically Ethereum on Kusama. Under a billion market cap, he says that this offers a unique entry point for investors. Late in October the project has integrated Etherscan and partnered with Sushiswap.
🔥 The Moonriver ecosystem is on fire!🔥 @Etherscan integrates with Moonbeam to create Moonscan.
Now, users & devs will have access to developer tools & network statistics that provide granular insights into the EVM of Moonriver and Moonbeam.
— Moonriver Network (@MoonriverNW) October 26, 2021
Another catalyst according to Davis is the $400 million up for grabs to bootstrap liquidity on the Moonriver network. This will incentivize investors to bring liquidity to the network.
They are going to begin bringing liquidity to Moonriver, they’re going to start liquidity providing, and Sushi swapping and other DeFi protocols…I expect the total value locked in DeFi on Moonriver to skyrocket and prices to move along
This is a metaverse built on Ethereum. According to the analyst, the project is very appealing and is dabbling with NFTs. The coin has a market cap of less than $200 million with nearly 5,000 holders. Davis notes that the coin came to his radar while it was around 20 cents and has since climbed as high as $2.6. The analyst believes that the coin has the potential to hit a billion-dollar market cap.
Davis is confident that this token will climb above $100. He cites the over 160 projects that will launch on Terra early next year. These projects will need the UST stablecoin and to be released, the protocol demands that an equivalent amount of LUNA is burnt. This not only brings more economic activity, but it will also trigger great demand for UST which is powered by LUNA, in turn pushing LUNA demand and price up.