A venture capitalist has claimed that a hot altcoin could explode by 2,200%. He also mentioned other altcoins to follow, including Dogecoin (DOGE).
The strong upside potential of the Stacks (STX) project
According to Chris Burniske, a partner at venture capital firm Placeholder, a crypto could see a 2,200% rise. This is the analyst who accurately announced the bottom of the crypto bear market. He mentioned the Stacks (STX) project which aims to boost the utility of Bitcoin (BTC). He said this one has much more upside potential than people think. The altcoin STX is worth $1.36 billion of FD NV, or 0.28% of the NV of BTC.
He explains that the Ethereum (ETH) layer 2 ecosystem has attracted masses of new interest and capital. However, Bitcoin is lagging behind in this aspect because market players have given up on making the blockchain programmable. Nonetheless, Burniske says Bitcoin’s Layer 2 ecosystem may be on its way to its heyday. And due to low competition, the altcoin STX could reap the rewards, with a gain 2200% potential.
Other high-potential altcoins
Stacks has little competition since people have abandoned bitcoin programmability. On the other hand, the competition between the L2s of Ethereum is tough. The largest layer 2 on Ethereum is the altcoin MATIC. This is worth $12.4 billion worth of FD NV, representing 6.4% of the NV of ETH. A revaluation of STX to be on par with that of MATIC against its layer 1 involves a 23-fold multiplication. This does not even take into account the appreciation of Bitcoin.
Other high-potential altcoins, Burniske lists Dogecoin (DOGE) and Toncoin (TON) include. There is also Internet Computer (ICP), Algorand (ALGO), Flow (FLOW), Decentraland (MANA) or Axie Infinity (AXS).
The investor also mentioned Lido DAO (LDO). This is the crypto whose chart could move strongly, according to analyst Pentoshi.
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