A closely followed trader and analyst, Lark Davis, announced the best performing altcoin projects in July 2021 with ongoing price catalysts. According to the trader, since there is a lot of volatility in the low market cap area, he chose to focus on coins that are in the upper market by market cap.
The first altcoin on the analyst’s radar: Ethereum
The analyst drew attention to Ethereum and highlighted the Ethereum London update in July that will be a major catalyst. “The Ethereum London update is launched on the testnet when 100,000 ETH is staked in one day on Eth2,” he said. Also, Cryptocoin. com
“Ethereum’s London update, which includes the highly anticipated Ethereum Improvement Proposal (EIP) 1559, has been deployed on the Ropsten testnet,” he said, citing a development we also reported as .
Davis said that with suggestions for improvement, Ethereum has more possibilities to continue to rise. He mentioned that the underlying reasons that boosted Ethereum in April are still present. He also stated that this upcoming update represents an important innovation milestone for ETH.
Davis: Big things will happen in Cardano
Another altcoin on Davis’ radar was Cardano (ADA). “We are very close to really big things happening for Cardano,” the analyst said. Cardano added more than 50,000 staking addresses in three weeks, reflecting a significant 8% growth in less than a month. As interest around the platform continues to grow, total staking addresses crossed the 600,000 milestone at the beginning of June.
Moreover, recently Cardano successfully released a crucial update to start the smart contract era on the network. According to the analyst, the release comes with important updates that will serve as the building blocks of Cardano’s smart contract development.
Analyst bullish for Polygon
Last on the list is Polygon. “We are seeing all major Ethereum applications integrate with Polygon. “We’re seeing some of the biggest ones like Aave and Curve Finance come into the Polygon network and integrate with them.” So Davis has been bullish on Polygon, talking about how the bull run is far from over.
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