Crypto Guru Unveils Best Altcoins To Buy Now

In a recent post video Titled “Best Altcoins to Buy Now,” crypto influencer Lark Davis shared his latest thoughts on promising altcoins with his 546,000 YouTube subscribers. Davis, known for his frank and straightforward approach, emphasized the speculative nature of his recommendations and the risks inherent in cryptocurrency investments.

Davis began by acknowledging Bitcoin's role as the premier digital store of value, noting that while it remains the safest asset in the cryptocurrency space, it is unlikely to achieve the high returns that some altcoins can offer. “If you seek life-changing gains, you have to risk life and limb in the altcoin jungle,” Davis noted, underscoring the ability of altcoins to deliver significant returns, albeit with significant risks. He noted that Bitcoin, while a solid option for wealth preservation, likely will not deliver 100x or even 10x returns in the near future.

The approval of Ethereum ETFs is an important development that Davis believes will draw attention to other altcoin projects, paving the way for a broader “altcoin season.” He acknowledged that while memes often get the most attention during these times, other projects of real utility deserve closer scrutiny. Davis expressed his intention to highlight currencies with real-world use cases, as they have a better chance of surviving market cycles and potentially achieving long-term success.

Best altcoins to buy now

The first altcoin highlighted by Davis is Jupiter (JUP), a decentralized exchange (DEX) aggregator built on the Solana blockchain. Jupiter is able to consistently provide the best premium prices by aggregating data from multiple exchanges. Davis emphasized the importance of Jupiter's user-friendly interface, which simplifies the onboarding process for new users entering the DeFi space. This ease of use, combined with Solana's recent popularity driven by memecoins, positions Jupiter as a prime gateway for traders looking to capitalize on emerging trends.

Davis detailed Jupiter's large trading volumes, noting that it often outperforms Uniswap. In March and April, the buyer generated trading volume of $47 billion and $35 billion, respectively. He highlighted Jupiter's perpetual swap feature, which offers up to 100x leverage, as a big draw for traders looking for big gains. Furthermore, Jupiter's staking rewards model incentivizes participation in project management, providing stakeholders with additional benefits such as incentivized tokens, launchpad fees, and airdrops. Davis pointed to Jupiter's plans to expand into the Forex and stock markets, which could enhance its utility and position in the market.

Related reading

Next on Davis' list is Airport (AERO), a DEX that runs on the Coinbase ecosystem. Davis emphasized the strategic advantage of having Coinbase, with a broad user base of more than 120 million, and the support of the Base ecosystem. This support, combined with the upcoming introduction of smart wallets to simplify the user onboarding process, gives Aerodrome a significant advantage. Although there is no native token for the underlying ecosystem yet, Davis believes the Aerodrome token could serve as a viable alternative, leveraging its role as a major DeFi platform within the ecosystem.

Davis pointed to the airport's impressive total value (TVL) of about $700 million and a market value of about $500 million. He suggested that as more Coinbase users interact with the underlying ecosystem, the Aero token could see significant appreciation. Davis revealed that he has increased his holdings in Aerodrome, confident that the platform's growth potential aligns with his investment strategy.

As discussed by Davis Sub squid (SQD)Describing it as “Google blockchain.” SubSquid is a comprehensive blockchain indexing solution designed to facilitate fast and cost-effective access to on-chain data. Davis explained that SubSquid acts as a decentralized file cabinet, organizing data from multiple blockchains to enable developers to build decentralized applications (dApps) without the burden of slow queries. Supported by over 100 networks and used by over 5,000 dApps, SubSquid provides a powerful infrastructure for blockchain development.

With a total token supply of 1.34 billion and a market cap of about $21 million, SubSquid presents a compelling investment opportunity, according to Davis. He compared SubSquid's market position to that of The Graph (GRT), which has a market cap of $3 billion, suggesting that SubSquid has plenty of room for growth. Davis mentioned his involvement in the private sale of SubSquid and his current retention strategy, monitoring the project's development and market performance.

Related reading

the Oasis Network (ROSE), a layer-one blockchain focused on privacy and scalability, was another recommendation. Davis highlighted its unique two-layer architecture, which separates consensus and smart contract execution to enhance privacy and scalability. This architecture makes Oasis suitable for applications in finance, artificial intelligence (AI), and metaverses. Davis stressed the importance of privacy in blockchain applications, especially to attract institutional users. He likened Oasis' approach to Polkadot's independent umbrella chains and Avalanche's subnet infrastructure.

Davis pointed to Oasis' strong ecosystem fund, which is backed by prominent investors such as Binance Labs, Pantera Capital, and Jump Capital. The network's ongoing rebranding aims to emphasize its focus on decentralized AI, in line with current market narratives. Collaboration with projects like Ocean Protocol and the involvement of leading AI figures enhances Oasis's credibility and potential. The market cap of the original coin, ROSE, is around $600 million and the maximum supply is 10 billion coins. Davis revealed that he received a large amount of ROSE during the bear market and continues to monitor the progress of the project.

Finally, Davis discussed Phantom (FTM), a layer-one blockchain designed to challenge Ethereum's dominance. He highlighted Sonic's upcoming upgrade, which will turn Fantom into a new blockchain, replacing the original. This rebranding, coupled with technical improvements, could attract significant interest and investment in Fantom. Davis praised Sonic's impressive transaction speed of 2,000 transactions per second and sub-second finality, noting that these features position Fantom as a strong competitor in the blockchain space.

Davis revealed that he took a large position in Fantom through an OTC trade and later doubled his holdings by buying more on Binance. He stressed the ability of the Sonic upgrade to attract interest and investment, driven by the participation of famous developer Andre Cronje. With improving on-chain stats and renewed interest in the Fantom ecosystem, Davis remains optimistic about its prospects.

In closing, Davis reminded viewers of the speculative nature of cryptocurrency investments and the importance of conducting thorough research. “Just because I like these coins does not mean their success is guaranteed,” he warned. Davis' insights reflect the dynamic, high-risk environment of the cryptocurrency market, where making informed decisions is crucial.

At press time, JUP was trading at $1.0977.

Jupiter price is hovering above 0.236 Fib, 1-day chart | source: JUPUSD on TradingView.com

Featured image created with DALL·E, chart from TradingView.com

AltcoinsBuycryptoGuruUnveils
Comments (0)
Add Comment