As the year 2023 comes to an end, many crypto enthusiasts are looking forward to the next year with optimism and curiosity. What will be the next big trends in the crypto space? Which altcoins will outperform Bitcoin and the rest of the market? To answer these questions, we turn to one of the most respected and influential crypto analysts in the industry, Lark Davis.
Davis, who hosts a popular YouTube channel with over 600,000 subscribers, recently shared his top five altcoin picks for the anticipated 2024 bull market. In an interview with Tony Edwards, Davis revealed his bullish outlook on BEAM, JOE, LINK, DOT, and ILV. These are the altcoins that he believes have the potential to deliver massive gains based on their innovation, utility, and market potential.
BEAM: A Privacy-Focused Gaming Token
BEAM is the native token of the Beam network, a decentralized gaming platform that allows users to create, play, and monetize their own games. BEAM is used for various purposes within the network, such as paying fees, rewarding developers, and participating in governance.
Davis is bullish on BEAM because he thinks that gaming is one of the most promising sectors in the crypto space, and that Beam has a unique value proposition of offering privacy and scalability. Unlike most gaming platforms that rely on Ethereum or other blockchains, Beam uses its own blockchain that leverages the Mimblewimble protocol, which enables fast and confidential transactions.
BEAM has been one of the best-performing altcoins in the past month, surging by over 100%. Davis expects that the token will continue to grow as more games are launched on the Beam network, and as more users join the platform.
JOE: A DeFi Powerhouse on Avalanche
JOE is the governance token of Trader Joe, a decentralized exchange (DEX) that runs on the Avalanche network. Trader Joe offers fast and cheap trading, lending, and farming services for various crypto assets. JOE holders can stake their tokens to earn rewards and participate in the platform’s decision-making.
Davis is bullish on JOE because he thinks that Trader Joe is one of the leading DEXs on Avalanche, which is one of the fastest-growing and most innovative blockchains in the crypto space. Avalanche has attracted a lot of attention and capital in the past year, as it offers a scalable and interoperable solution for decentralized applications.
JOE has also been on a strong uptrend in the past month, gaining over 70%. Davis expects that the token will continue to benefit from the growth of the Avalanche ecosystem, and from the increasing demand for decentralized finance (DeFi) services.
LINK: The Leading Oracle Network
LINK is the native token of Chainlink, a decentralized oracle network that connects smart contracts to real-world data, such as prices, events, and weather. Chainlink is widely used by various blockchain platforms and applications, such as Ethereum, Polkadot, Aave, and Synthetix.
Davis is bullish on LINK because he thinks that Chainlink is the undisputed leader in the oracle space, and that it has a lot of room for growth as the demand for reliable and secure data increases. Davis also points out that Chainlink has several catalysts that could boost its price, such as the upcoming Cross-Chain Interoperability Protocol (CCIP) upgrade, which will enable cross-chain communication and data sharing, and the potential launch of Chainlink 2.0, which will introduce new features and capabilities for the network.
LINK has been relatively stable in the past month, gaining about 3%. However, Davis expects that the token will see a significant increase in the next year, as Chainlink expands its network and delivers more value to its users and partners.
DOT: The Flagship of the Polkadot Ecosystem
DOT is the native token of Polkadot, a multi-chain network that aims to connect and secure different blockchains. Polkadot enables cross-chain interoperability, scalability, and innovation, by allowing developers to create and deploy their own custom blockchains, called parachains, that can communicate and exchange value with each other.
Davis is bullish on DOT because he thinks that Polkadot is one of the most ambitious and promising projects in the crypto space, and that it has a lot of potential to become a dominant force in the blockchain industry. Davis also highlights that Polkadot has a vibrant and diverse ecosystem, with hundreds of projects building on its platform, such as Acala, Moonbeam, Kusama, and Polkastarter.
DOT has been one of the best-performing altcoins in the past month, soaring by over 60%. Davis expects that the token will continue to rally as Polkadot launches more parachains, and as more users and developers join the network.
ILV: A Play-to-Earn Gaming Token
ILV is the native token of Illuvium, a decentralized gaming platform that combines the elements of role-playing games (RPGs) and non-fungible tokens (NFTs). Illuvium allows players to explore, collect, and battle with various creatures, called Illuvials, that are represented as NFTs. ILV is used for various purposes within the game, such as staking, governance, and rewards.
Davis is bullish on ILV because he thinks that Illuvium is one of the most impressive and immersive games in the crypto space, and that it has a huge potential to attract and retain a large and loyal player base. Davis also notes that Illuvium is backed by some of the most prominent investors and influencers in the crypto industry, such as Kain Warwick, the founder of Synthetix, and Sam Bankman-Fried, the founder of FTX.
ILV has been relatively stable in the past month, trading around $100. However, Davis expects that the token will see a significant appreciation in the next year, as Illuvium launches its full version, and as more players join the platform and participate in the play-to-earn model.
These are the top five altcoins that Lark Davis is bullish on for the 2024 bull market. Of course, these are not the only altcoins that could perform well in the next year, and there are many other factors that could influence the crypto market, such as regulation, innovation, and adoption. Therefore, it is always advisable to do your own research and due diligence before investing in any crypto asset.
