Deutsche Bank: Bitcoin has become too big to ignore
April 1, 2021
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Coin analyst and crypto trader Ivan Liljeqvist has mentioned three potential altcoin gems he believes to go to the moon by next month.
In a new episode of The Moon with Carl Martin as guest, Ivan has mentioned he has personally purchased PancakeSwap(CAKE), CAKE is a decentralized exchange (DEX) that’s running on the Binance Chain.
“I think soon PancakeSwap will be having more volume than Uniswap (UNI) Why is it so? Because on ETH (Ethereum), you have very high fees right now and the reason is because people who use ETH, they normally do big transactions. Look if you’ve done a 10x in your trade on Uniswap, you don’t care if the fee is $10 or $100, even $500 you’re okay with it because you just did a 10x…
Now Binance Chain, what they do now is that they create this niche, they carve out the niche for the community that does a bit lower volume transactions and there also you can have lower fees… People know it’s more centralized but they don’t care. Why? Because it’s the same functionality but just lower fees.”
“Why is 1inch used? Well because they aggregate DEXs. So if I want to do a large order, I don’t want to go straight to Uniswap. Why? Because it might not be liquid enough. If I go to 1inch, 1inch will aggregate liquidity from Uniswap, from SushiSwap (SUSHI), from all kinds of other different DEXs and I will get way better execution price…
The use case here is for people that do big transactions. If you do a big transaction, it doesn’t matter if you pay $100, $400, $600, if your execution price is better and you can gain $6,000 in better execution, it’s okay. So that’s why there are so many users using 1inch.”
The last coin on Liljeqvist’s list is layer-two blockchain scalability platform Matic which is now rebranded as Polygon.
“It is layer two and it is now getting adoption. Many, many projects that I know about are expanding to Polygon, ex-Matic. A layer two is the next frontier for this whole Ethereum space because the fees are very high… It’s good that we have, for example, Matic or Polygon now solving that.”
Thirdly, Ivan on Tech mentions that Polygon is also one of those layer two scenarios that is experiencing adoption.
Source: The Moon
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Kiss band member and entrepreneur Gene Simmons recently made a big investment on the sixth largest Cryptocurrency after which he tweeted to his almost million followers why he thinks that Cardano (ADA) has potential.
Biggest crypto influencer and market analyst Elliot Wainman is explaining his method for finding the upcoming altcoin gems which could potentially explode this year. In one
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