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.
Another altcoin on Wainman's radar is KeeperDAO (ROOK), DeFi on-chain liquidity insurer.
The next altcoin on Wainman's list is Archer DAO (ARCH), a protocol designed to increase Ethereum miners' income.
In fourth place is the privacy-centric smart contract protocol Phala Network (PHA).
Next 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 did 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).
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