This 12 months has undoubtedly been probably the most bullish years on report for cryptocurrencies.
Bitcoin (BTC), Ethereum (ETH) and quite a few different massive cap cryptocurrencies achieved their all-time highest values amidst rising institutional curiosity from the likes of PayPal, Tesla, and BNY Mellon. This has despatched the market right into a shopping for frenzy, as savvy buyers look to identify probably the most undervalued crypto property earlier than they start exploding in worth.
In terms of assessing the potential worth of a challenge, one easy metric stands out above all else — market capitalization. Early-stage tasks with important potential however a comparatively low market capitalization characterize probably the most doubtlessly profitable alternatives, since they’ve the potential to attain appreciable development.
But it surely takes a discerning eye to separate the hype jobs from the tasks with real prospects. Right here, we check out three tasks we expect have the basics, group, and merchandise essential to explode within the close to future.
Prophecy is an attention-grabbing one. Like Bitcoin, it’s constructed to offer a wholly new monetary ecosystem that resolves among the largest gripes with conventional cash. It’s additionally created by an moral nameless crew, that places its group on the forefront whereas working within the background to construct a collection of Defi monetary merchandise that empower its customers.
In contrast to many different blockchain protocols that are usually only a copy and paste of one thing else — with a number of additional options slapped on prime. Prophecy is a wholly unique platform constructed round a novel consensus mechanism often known as Proof-of-Dedicated Decay (or PoCD) — which primarily stimulates the Prophecy economic system to stay as liquid as attainable whereas guaranteeing that the provision of PRY tokens is intently balanced to demand to forestall lack of buying energy.
However right here’s the place it will get much more attention-grabbing. Prophecy isn’t simply offering a sound financial unit within the PRY token, or a next-generation financial protocol, it’s additionally constructing a complete vary of merchandise that leverage this know-how to offer a spread of use-cases to PRY holders. The primary of those is already reside now — ‘Prophet Swimming pools’ — which primarily yield swimming pools that speed up the incomes course of to a matter of hours or days.
In whole, the crew behind Prophecy plans to launch greater than eight completely different monetary options within the subsequent 12 months alone — indicating large issues could also be in retailer for this challenge. And with a tiny market capitalization of just below $2 million, its sturdy fundamentals and the fast tempo of improvement make it one price watching.
In case you’ve been concerned within the cryptocurrency area to any main capability within the final 12 months or so, then you definitely’re probably conscious that decentralized lending and borrowing platforms are terribly standard.
They’re often utilized by DeFi merchants seeking to leverage their long-term positions and debtors aiming to extract liquidity from their property. On prime of this, lenders can use them to earn a secure return on their property.
However these open lending platforms have been largely restricted by two main issues: they typically couldn’t facilitate undercollateralized loans and often undergo from the excessive gasoline prices on the Ethereum blockchain. That’s, till now.
The trendy decentralized lending platform EasyFi resolves each of those challenges by leveraging Polygon’s (previously Matic Community’s) layer 2 know-how to cut back transaction charges to a naked minimal whereas enabling debtors to take out undercollateralized loans because of its TrustScore integration.
⚡Get up World….to the facility of #Polygon⚡
— @easyfi.community (@EasyfiNetwork) February 10, 2021
It additionally incorporates a novel incentive mechanism, which sees customers rewarded with EASY tokens for utilizing the platform. These EASY tokens can then be staked to earn MATIC tokens, giving customers two ranges of rewards only for taking out or offering low-interest loans.
With a small market cap of round $24 million, EasyFi is only a fraction of the scale of bigger, however arguably weaker options. And with transaction charges now turning into a significant burden to an enormous proportion of cryptocurrency customers, it wouldn’t be shocking if it sees an enormous inflow of customers within the close to future — doubtlessly driving its market capitalization up significantly in consequence.
RAMP is a brand new DeFi platform that goals to provide cross-chain liquidity on/off-ramp that permits customers of non-ERC-20 property to rapidly and simply make the most of their staked property by depositing them on the platform to mint a stablecoin often known as rUSD.
As a stablecoin issued on the Ethereum blockchain, rUSD can then be used to take part within the in depth Ethereum DeFi ecosystem — with out having to trade the cross-chain property they deposited as collateral.
In case you’re in DeFi, try my companion $RAMP:
– Get a stablecoin in trade for staked property
– Deploy that stablecoin into DeFi protocols for added earnings streams
– Staked property redeployed into staking/yield farming to generate passive earnings
There’s much more ⬇️ pic.twitter.com/opa5epUtRi
— The Crypto Canine? (@TheCryptoDog) February 9, 2021
By doing this, customers not solely preserve their unique staking yields from their cross-chain property, however can even farm RAMP tokens and earn yields from a wide range of different DeFi protocols utilizing their stablecoins — permitting customers to maximise the yield from their property.
RAMP has been round for lower than six months, however in that point it has managed to generate fairly the group and nonetheless has a comparatively low market cap at ~$30 million. However with the potential to unlock the worth of virtually $1 trillion price of cryptocurrency property, we expect there’s loads of room for additional development.
Disclaimer: The knowledge introduced right here doesn’t represent funding recommendation or a suggestion to take a position. The statements, views, and opinions expressed on this article are solely these of the creator/firm and don’t characterize these of Bitcoinist. We strongly advise our readers to DYOR earlier than investing in any cryptocurrency, blockchain challenge, or ICO, notably people who assure earnings. Moreover, Bitcoinist doesn’t assure or suggest that the cryptocurrencies or tasks revealed are authorized in any particular reader’s location. It’s the reader’s duty to know the legal guidelines relating to cryptocurrencies and ICOs in his or her nation.