Popular crypto trader and analyst Elliot Wainman says a group of relatively obscure altcoins have the potential to moon this January.
In a new YouTube video, Wainmain, also known as EllioTrades, picks 14 crypto assets that could provide traders with major gains in the next few weeks.
First, Wainman predicts big things are in store for decentralized liquidity network THORChain (RUNE), which is currently trading at $1.76 with about a $278.28 million market cap at time of writing, according to CoinMarketCap.
The altcoin analyst predicts THORChain will reach a $1 billion market cap and potentially even higher.
“I’ve always been a fan of THORChain, I’ve always been a fan of RUNE, because it allows for yield to be extracted by locking up Bitcoin, and anything that’s DeFi and Bitcoin related to me is set to go absolutely bananas as Bitcoin also grows. So in my mind, a project like RUNE was and always is set to do really well on the back of Bitcoin and DeFi growing together.”
Another crypto Wainman says is set to grow with Bitcoin and Defi is REN, a protocol that enables the transfer of crypto assets between blockchains. The trader says he’s “betting big” on REN, which is trading around $0.42 with $369 million market cap at time of writing.
Wainman is also bullish on AllianceBlock (ALBT), a “decentralized, blockchain-agnostic layer 2 that bridges traditional and decentralized finance” with only a $46 million market cap. The trader highlights AllianceBlock’s new partnership with data storage project Ocean Protocol as a bullish sign of things to come.
Next up, the crypto trader mentions two related projects that help miners extract the greatest possible value from confirming transactions. Wainman says KeeperDAO (ROOK) and Archer DAO (ARCH), which is up 128% on the day, can multiply in value during this bull cycle.
Wainman then moves on to the decentralized insurance sector, which the ...