Ivan on Tech, the well-known crypto trader and Youtuber, also known as Ivan Liljeqvist, spoke about three altcoins that could explode by March and in our altcoin news today, we find out which coins exactly will do so.
In a new episode with Carl Martin and his The Moon channel, the trader known as Ivan on Tech said that he’s personally holding CAKE which is a decentralized exchange token that runs on the Binance Chain:
“I think soon PancakeSwap will be having more volume than Uniswap (UNI) Why is it so? Because on ETH (Ethereum), you have very high fees right now and the reason is because people who use ETH, they normally do big transactions. Look if you’ve done a 10x in your trade on Uniswap, you don’t care if the fee is $10 or $100, even $500 you’re okay with it because you just did a 10x…
Now Binance Chain, what they do now is that they create this niche, they carve out the niche for the community that does a bit lower volume transactions and there also you can have lower fees… People know it’s more centralized but they don’t care. Why? Because it’s the same functionality but just lower fees.”
Over the past 24hours, PancakeSwap’s trading volume stands at $1.04 billion compared to Uniswap’s volume of $905 million. The second coin that could explode is DEX’s aggregator 1inch. According to Ivan, 1inch has seen a lot of growth as it is within the top three most used DeFi apps in the world:
“Why is 1inch used? Well because they aggregate DEXs. So if I want to do a large order, I don’t want to go straight to Uniswap. Why? Because it might not be liquid enough. If I go to 1inch, 1inch will aggregate liquidity from Uniswap, from SushiSwap (SUSHI), from all kinds of other different DEXs and I will get way better execution price…”
The use case as Ivan said for 1inch is to do big transactions. If you do a big transaction, it won’t matter if you pay $100, $500, or higher if your execution price is better and you can gain $6000 in better execution so that’s why there plenty of users that are using the coin. The last on the list is Matic which is now rebranded as Polygon. Polygon is layer two and is getting even more adoption so many projects are now expanding towards it.
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