June 6, 2023

SHSU Houstonian Online

Read all latest news headlines from USA, UK and around the world, get today's breaking news and live updates on politics, elections, business, sports, economy,​ …

Analyst says two altcoins besides Ethereum will generate huge returns in 2022

Analyst says two altcoins besides Ethereum will generate huge returns in 2022

Cryptocurrency trader Lark Davis charges Ethereum (ETH) And two cryptocurrencies are among the best investment options for 2022.

Davis Says There are 475,000 YouTube subscribers where Ethereum and two altcoins will generate “good returns for investors” next year.

In the case of Ethereum, a crypto trader and analyst says the second largest digital asset by market capitalization could reach a five-digit price by 2022.

“I think Ethereum will be a five-figure asset and we could see Ethereum at $20,000 before this cycle rolls around and eventually dies.”

Ethereum is trading at $4,083 at the time of writing.

According to Davies, several factors help the bullish case for Ethereum:

“We have Layer 2 scaling solutions exploding in Ethereum… We have proof of stake moving to Ethereum. This is incredibly big. We are moving from Proof of Work, which is terribly inefficient, to Proof of Stake, which is going to fundamentally change the Ethereum economy …

Then we have the triple half. So, as part of the transition to proof of stake, there will be a 90% reduction in annual emissions from newly created Ethereum…

Ethereum is set to become deflationary next year. It will only go down. Within the next few years, maybe five to 10 years, we will be back to below 100 million Ethereum.”

The stock of Ethereum currently stands at 118.87 million.

Next is Elrond (Egypt)The blockchain platform is scalable and suitable for businesses. Factors contributing to Davis’ rise to Elrond include increased activity on the blockchain platform, aided by the launch of products such as the Maiar Decentralized Exchange (DEX), which is similar to the Ethereum-based decentralized exchange Uniswap (UNI).

“It’s finally coming to life, which I think is a very exciting moment and moment for Elrond. So we finally saw them launch the Maiar exchange… a kind of Uniswap from Elrond where you can now trade USDC (the US dollar currency), the Elrond token…

We also have cross-support from centralized exchanges that are starting to roll out for the standard Elrond tokens. “

Elrond is trading at $267.73 at the time of writing.

Next is the polygon (Matic), An Ethereum scale solution designed to enable broad adoption of decentralized applications. Davis says the factors that make him optimistic about Polygon are increased usage and growth-led acquisitions.

“Polygon will now burn a little bit of MATIC. In the long run, that’s pretty great for the price of Polygon. For example, users are rising stronger than ever, there are new acquisitions and more applications. I’m optimistic about Polygon. It goes to $10, Just a matter of time.”

Polygon is trading at $2.61 at the time of writing.

See also  Research: Most companies can hardly afford higher costs | Economie