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Watch out for these 7 Little Altcoins!!

Cryptocurrency phenomenon and analyst Elliot Wainman lists seven small-volume altcoin projects he believes are ready to explode in the booming decentralized finance (DeFi) industry.

According to a Daily Hodl report, Wainman told 187,000 YouTube subscribers that he saw a lot of potential in the decentralized API services protocol and Chainlink (LINK) competitor API3.

“The fact that API3 are the leading Chainlink node runners is important and they really know the problems with Chainlink … Band [Protocol] is interesting… but my big basket is in API3 [and] Chainlink.”

Another altcoin on Wainman’s radar is KeeperDAO (ROOK), DeFi on-chain liquidity insurer.

“The reason I think ROOK is going to explode is because it’s an extraordinary project, and I think it’s going to really go up, because it’s about to end the emissions phase. ROOK’s new mining will stop. You will not be able to constantly get the new ROOK for free and essentially you will not be able to market it. “

The next altcoin on Wainman’s list is Archer DAO (ARCH), a protocol designed to increase Ethereum miners’ income:

“It does something similar to ROOK, not a direct competitor, but similar things that help miners get more value and the process of writing transactions in Ethereum cope with mempool. Both of these will do incredibly well. “

In fourth place is the privacy-centric smart contract protocol Phala Network (PHA).

“All I can say is that I have seen potential on [Phala Network] for a while… I think it will go higher. I do not want to make a price prediction about the Phala, but it will go higher. “

Number five comes RAMP, the cross-chain liquidity and stake farming protocol:

“I think really big about RAMP. I think RAMP will do really cool things by bringing liquidity from other tiers to Ethereum through rUSD issuing. I think there is a huge transition line for this, especially with a market value of $ 27 million. In this bull run, it wouldn’t surprise me that he’s doing 5x [or] 10x from here. “

Wainman says he is following the Stafi (FIS), which promotes itself as “the first DeFi protocol to unlock the liquidity of staked assets.”

“Another project that I actually think is quite similar and that I have had a significant amount of is Stafi. What they do is free the liquidity from other chains as well. They have similar ideas to RAMP.

Stafi is short for Staking Finance. Allows you to unlock the liquidity of the staked assets. This is similar to the RAMP where you get staked rewards on a chain and unlock that liquidity, but they are slightly different in wrapped tokens instead of the RAMP model. “

The last altcoin on the list of the cryptocurrency phenomenon is prediction markets and Augur (REP) competitor Prosper (PROS).

“They do more than Augur did. Augur has a market value of $ 120 million. Prosper generates tens of thousands of dollars in revenue from the DAO treasury with a very small volume. Their market value is only a few hundred thousand and they earned $ 65,000 from him in the first week… Prosper is interesting. I don’t want to go to extremes. “

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