dailyhodl.com
Analyst and trader Tyler Swope has his eye on two altcoins that he believes could explode when they hit the market.
Swope tells his 173,000 YouTube subscribers that a decentralized finance (DeFi) asset and a data privacy project are flying under the radar.
The first project is Centrifuge and its Radical Token (RAD). Centrifuge is a DeFi project that provides access to bankless liquidity.
Says Swope,
“The reason I love this project is it combines all the things I like about crypto into one sweet package. Ethereum, DeFi, NFTs, Polkadot, stablecoins — Centrifuge uses it all…
The first major project from Centrifuge is the Tinlake DApp. With this, asset originators can collateralize invoices, royalties and other real-world assets and then gain instant liquidity with that collateral through DeFi and stablecoins. Asset originators are real-world businesses with the real-world assets who need access to capital now instead of wading through the typical invoice or royalty or other business payment process. And these real-world assets are tokenized into collateral with NFTs.”
The Tinlake DApp lives on the Ethereum chain, however, Swope highlights that Centrifuge’s governance and other functions will happen on Substrate, one of the few live Polkadot chains.
There are a few ways to earn Centrifuge’s governance token RAD, though many are involved and are not available to US investors. Swope says US investors may be able to earn RAD more easily in the future, citing an interview with Centrifuge’s head of token design.
Swope is also looking at the data privacy protocol HOPR.
“I like HOPR because they are partnered with Avado on multiple levels and I like HOPR because they are doing multiple testnets – xDai, Matic and [Binance]. That means it’s going to work on all those layers, including Ethereum – enhancing privacy for all the DApps built on those layers.
And with the partners and investors it has established, when the mainnet goes live it’s going to be highly used – a recipe for success in my eyes. The only risk is it’s a privacy token.”
Swope points viewers to a Medium post that tells potential users how and when they will be able to get the HOPR token.
Hopr says that anyone who runs a node and stakes HOPR will be able to earn the token, however, the team is not yet ready to announce a date for its mainnet launch.
Featured Image: Shutterstock/ SergeyBitos