Crypto strategist and trader Lark Davis, in a new video, sheds light on 4 events in the crypto ecosystem that will ride the market to glory this year.
Etheruem’s “Optimism” Upgrade.
This upgrade on the platform is the most awaited scaling solution for Ethereum, before the major Etheruem 2.0 upgrade which is due next year.?
Although the upgrade had been delayed previously, it is now set to launch in August. This will bring 100X scalability to the platform and allow scalability to apply to ethereum smart contracts.
The high gas fees on Etheruem have turned it unusable, except for rich investors. It costs $100 for a transaction on uniswap and $20 for basic token transfers, which is outrageous.
Hence, Davis says the “Optimism” upgrade will bring more users back on the platform setting it on its foot back again.
The launch of Parachains will make Polkadot a fully operational network. Enabling for projects to deploy their blockchains on top of Polkadot. And already hundreds of projects are ready to be deployed on the platform.
This launch is the highly anticipated network launch in the crypto market that will happen in the next few months. As of now, The polkadot mainnet has pulled off the first seven Parachain auction
“I expect this to be a major market-moving event with that polka hype really just continuing for the rest of this year since Parachain auctions in not just one date kinda thing…keep an eye on this for sure”.
Smart Contracts on Cardano.
The most hyped cryptocurrency in the market will finally unleash its full potential, with the launch of fully functional smart contracts on the mainnet this August. This will allow the amped-up Cardano community to finally start using the varied applications on the platform. And do something beyond just staking and token transfers.
The founder Hoskinson had previously said over 100 projects are in line to migrate to Cardano once the smart contracts platform goes live.
“… I suspect that as the launch gets closer that we are going to see more and more announcements made from different cryptocurrency protocols or new projects that are building who want to tap into Cardano?s userbase and hype.?
Davis believes this will not just be a big event for Cardano but for the entire market, as it will expand the horizon of the overall ecosystem.
Launch of Bitcoin ETF in the USA.
Although the launch is speculative and there is no confirmation, Bitcoin ETFs could flood massive money into the market, as the USA is the biggest equity market in the world.
There already is a mature market with regulated and stable exchanges like Coinbase. And CME seeing massive volume for their bitcoin products.
- Fidelity, the third biggest asset manager is propagating for Bitcoin ETFs to be approved
- Morgan Stanley, the banking giant is working on getting a Bitcoin application with the New York digital investment group.
These moves suggest even the financial moguls are expecting approval of the Bitcoin ETF product.
“…Now when the ETF is approved in the USA, there’s a good chance that the price of Bitcoin will absolutely freak explode and of course right along with it the entire cryptocurrency market.”