Crypto influencer and trader Elliot Wainman is keeping a close watch on two crypto assets that he says are primed to erupt as the crypto markets go into full-blown bull euphoria.
In a new video, Wainman tells his 249,000 YouTube subscribers that he is watching a little-known decentralized finance (DeFi) exchange that touts unlimited liquidity and cross-chain compatibility.
“Linear (LINA) is like Synthetix (SNX) on steroids in my humble opinion… They have several million dollars in volume going through their exchange. They’re essentially a synthetic assets exchange on Binance Smart Chain (BSC) but they are looking to do some interesting stuff, allowing for you to trade synths of all kinds of tokens that aren’t on Binance Smart Chain like ETH (Ethereum), LINK (Chainlink), [and] TRON (TRX). They’re allowing you to trade gold [and] silver. They are allowing you to trade Stellar (XLM) and YFI (yearn.finance).”
Although Wainman says Synthetix will remain the “Coke or the market leader in the derivatives exchange sector, he believes Linear has more upside potential as it positions to eat up some of the market share and become the “Pepsi” of the space.
“I do believe that there’s more upside ahead, given the fact that Binance Smart Chain is explosive, and [LINA is] only here at a sub $100 million market cap. In this market, that isn’t that big. Looking at Synthetix, they’re almost $4 billion in market cap. That’s pretty much a 40x that you can do for Linear to catch up with its industry leader.”
Another coin on the crypto influencer’s watchlist is Multiplier (MXX), which he is personally holding as he says the coin has “true gem vibes.”
“It is to me an interesting proposition, essentially Aave for Binance Smart Chain. We all know how dominant Aave is. I think it’s just a straight fork of Aave.”
According to Wainman, MXX offers a range of functionalities including simplified stable bonds which allow users to earn yields from a variety of ERC-20 tokens and TakoSwap, an automated market maker. Multiplier also features a lending and borrowing service in Multi-Chain Lend and an MXX and bMXX converter that allows users to convert their MXX tokens into bMXX, which is their Binance Chain token.
The crypto analyst highlights that Multiplier can still erupt despite the minuscule value stored in the asset.
“They have $12 million dollars in TVL (total value locked), which in my opinion is a little low. But given how much money is flooding into Binance Smart Chain right now, I honestly can’t see this staying that low. I think this has to go up with the explosion of essential TVL looking to find a home and extremely high APYs and yields on Binance Smart Chain. So I do think that this one could be a tremendous gainer in the coming days and weeks.”
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The post Trader Elliot Wainman Says Two Little-Known Crypto Assets Could Erupt Amid Full-Blown Bull Euphoria appeared first on The Daily Hodl.