Venture Coinist founder and crypto analyst Luke Martin is revealing the names of 10 coins to keep an eye on as the crypto market develops a bigger appetite for risk.
In a new Profit Maximalist episode, Martin identifies a select group of altcoins in the decentralized finance (DeFi) space that he says offers significant upside potential.
“Mid-cap DeFi projects [are] starting to do well versus blue chips that are slowly grinding higher. It might be because those valuations of blue chips, those things have been discovered… Once they’re worth billions and billions of dollars, how much more upside is there versus a new project that could eventually reach that size?”
The mid-cap DeFi altcoins in Martin’s list are decentralized exchange protocol THORChain (RUNE), peer-to-peer exchange platform 0x (ZRX), decentralized derivative protocol Mirror Protocol (MIR), and decentralized perpetual contract protocol Perpetual Protocol (PERP).
Martin also highlights that he’s keeping a close watch on another group of altcoins that he says are poised to make big moves.
“Coins that have not moved in forever… a lot of them which are still near their all-time lows in Bitcoin terms. These things have a ton of room to run if it’s actually altseason for large-cap alts. That’s another trend that I don’t think a lot of people are paying attention to, but I think you should. As we started this week, XRP, Tezos (XTZ), XLM (Stellar Lumens), Litecoin (LTC), EOS, ETH (Ethereum), names that you would not expect to be leading the market, actually are leading the markets.”
The crypto trader adds that his bullishness in large-cap cryptocurrencies stems from the growing risk appetite of traders in the digital asset space.
“Generally when large caps pump, it’s a sign of people’s risk tolerance going up or willingness to take risks in crypto, [which is] generally a positive sign for alts.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong/Dario Lo Presti