Crypto dealer and analyst Ivan Liljeqvist is pulling again the curtain on 5 altcoins that he says are primed to erupt within the subsequent crypto hype cycle.
In a brand new video, the analyst often called Ivan on Tech tells his 415,000 subscribers that the narrative on Ethereum-based layer 2 scaling options might dominate the subsequent section of the bull market.
“Ethereum is not only going to face behind and that’s what we’re witnessing proper now with layer twos… I do assume that proper now, the subsequent step might be tasks transferring from layer one on Ethereum to layer 2.”
Layer 2 protocols alleviate the community congestion in Ethereum by processing some operations off of the primary chain. The answer can course of a considerably greater quantity of transactions faster and cheaper which may then be settled on the Ethereum community.
Whereas layer 2 options present promise in serving to Ethereum scale, Liljeqvist says the ecosystem is at the moment fragmented.
“The entire completely different tasks on Ethereum, they do completely different sorts of scaling options and so they decide completely different layer 2s whereas Binance (BNB) is only one answer.”
The crypto analyst highlights that despite the fact that fragmentation on Ethereum’s layer 2 exists, there’s potential for protocols within the house to be the subsequent large movers.
“It’s crucial to review and analyze the completely different layer two options as a result of we’re going to focus on one in every of them. It may well both be Matic (Polygon). Matic proper now might be main the best way when you have a look at completely different tasks which can be launching on Matic. On Matic, you do have Quickswap (Fast) and so they do have a option to commerce every kind of belongings on Matic by means of Quickswap, sort of like Uniswap.”
Along with the tandem of Matic and Quickswap, Liljeqvist says to maintain an eye fixed out on different promising layer 2 options.
“On xDAI, you guys should attempt Honeyswap (HNY). And likewise, look out for dYdX. dYdX goes to do on Starkware. So that you see three completely different options on Ethereum: xDAI with Honeyswap, Matic with Quickswap, and dYdX, they’re doing on Starkware.”
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