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 generally known as Ivan on Tech tells his 415,000 subscribers that the narrative on Ethereum-based layer 2 scaling options may 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 suppose that proper now, the subsequent step can be initiatives shifting from layer one on Ethereum to layer 2.”
Layer 2 protocols alleviate the community congestion in Ethereum by processing some operations off of the principle 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 present fragmented.
“The entire completely different initiatives on Ethereum, they do completely different sorts of scaling options they usually choose completely different layer 2s whereas Binance (BNB) is only one answer.”
The crypto analyst highlights that though fragmentation on Ethereum’s layer 2 exists, there’s potential for protocols within the area to be the subsequent huge 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 among them. It could possibly both be Matic (Polygon). Matic proper now might be main the way in which when you have a look at completely different initiatives which can be launching on Matic. On Matic, you do have Quickswap (Fast) they usually do have a method to commerce every kind of belongings on Matic via Quickswap, form 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 need to attempt Honeyswap (HNY). And in addition, 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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