Neither Bitcoin, nor Cardano, nor Solana: a trader points out which will be the next cryptocurrency to rise more than 100%

After the rise of more than 30% in the price of Bitcoin (BTC) and the rise of more than 70% in the value of Cardano (THERE IS) and Solana (SOL) analysts are watching the charts to signal the next cryptocurrency that should rise above 50%.

Thus, in a new video of YouTube, the trader and market analyst cryptocurrencies, Lark Davis, claims that the smart contracts platform Earth (MOON) it is the great candidate for a next bullish leg in the market.

Lark claims that the platform has come a long way in terms of valuation simply by remaining focused on highly desirable applications that are still in their infancy, which indicates that further development should be followed by higher prices.

“The important thing is to build things that people want, and that is what Terra has achieved. It is really very, very impressive because Terra’s asset, LUNA … is climbing positions in the market capitalization ranking, with really only three applications on the blockchain. “

The three apps Davis refers to are the cryptocurrency lending protocol ANCHOR (ANC), the protocol of the synthetic stock trading platform Mirror (MIR) and the mobile payments application Chai.

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Davis also highlights that a unique feature of the protocol is its native stablecoin with algorithmic indexing, called UST. The function requires that the LUNA tokens be removed from supply when a new UST is created.

“What happens when you have dozens of applications running on the LUNA blockchain, all these DeFi protocols that are eager to hit the market are going to need the UST stablecoin, and when that happens, people burn LUNA to get more UST.” , He said.

With this LUNA protocol, in a way, it mimics the update triggered by the London fork of Ethereum (ETH) which uses part of the commissions to burn ETH.

However, according to the trader, This is just the beginning of LUNA, as the project development team has announced new updates that should make the protocol even more robust and interconnected.

Davis concludes his optimistic thesis covering the next update of the Terra ecosystem, dubbed “Columbus 5″, which will bring more burning system for LUNA tokens, a greater reward for holders who keep their assets at stake among others.

In addition, LUNA is working on an integration, via interoperability, to connect its protocol with Ethereum, Solana and Binance Smart Chain (BSC) as Linear did in its decentralized exchange (DEX).

“As soon as developments are announced, the LUNA token should go even higher as it could be the first truly interoperable protocol and thus usher in a new era for public blockchains,” he said.

Points of view and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and commercial movement involves risks, you must carry out your own research when making a decision.

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Neither Bitcoin, nor Cardano, nor Solana: a trader points out which will be the next cryptocurrency to rise more than 100%

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