A widely followed crypto analyst is identifying five altcoin projects that he believes have the potential for massive growth.
In a new video update, Coin Bureau host Guy Turner says he is bullish on the decentralized finance (DeFi) protocol of Aave lending and lending (AAVE).
“The fact that Aave has been around for a while now is one of the reasons why I am optimistic about the project. DeFi is a highly competitive niche and Aave is one of the biggest and most successful protocols out there.
Now, I’m bullish on Aave for other reasons as well. For starters, he is currently working on his own decentralized stablecoin, GHO. The need for a truly decentralized stablecoin that actually works is growing and I think Aave has a good chance of achieving it.”
Aave is trading at $70.88 at the time of writing.
Next, Turner sets his sights on the Arweave (AR) decentralized data storage protocol.
“Arweave has one of the strongest use cases in cryptography. It’s hard to think of a more appropriate use for a blockchain than immutably and permanently storing data, especially in an era where censorship is on the rise, free speech is threatened in many, many countries, and deeply bogus technology means that soon we will have to question every damn thing we see on the Internet.
Turner cites some concerns about Arweave, including competition from Filecoin (FIL).
Arweave is worth $8.08 at the time of writing.
Turner’s third pick is Axelar (AXL), a cross-chain communication protocol.
“I am a big fan of blockchain interoperability and the idea of a multi-chain future…Axelar naturally has me interested…I am impressed by the use case and ongoing development…The token also has a surprisingly good exchange support.”
Axelar is trading at $0.64 at the time of writing.
Turner’s penultimate pick is Lido Finance (LDO), a liquid staking service, which he says is currently being used to stake around 30% of all Ethereum (ETH) staked.
“I think there is potential here for Lido in the long run because staking on Ethereum is going to be big business, especially for institutions. Liquid staking offers a whole new angle on this. And Lido is obviously the market leader here.”
Lido is worth $2.36 at the time of writing.
Lastly, Turner chooses the decentralized cross-chain liquidity protocol THORChain (RUNE).
“Over half of RUNE’s supply is now in circulation… Its trade support has improved a lot since I last covered it…
I think it could play a central role in the crypto economy of the future, but only if regulations are crafted that allow this and other DeFi projects to flourish.”
At the time of writing, THORChain is changing hands at $1.44.
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