Crypto influencer and trader Elliot Wainman is revealing his method for finding the next hot altcoin gems that can potentially print 100x gains.
In a new video, Wainman tells his 261,000 subscribers that all eyes are currently on Binance Smart Chain (BSC) as crypto traders flee the congested Ethereum blockchain, which is facing high gas fees that make it difficult for smaller traders to utilize network.
“The story of the day, the week, the month, of course, is Binance Coin (BNB) and this of course is the underlying protocol that’s powering the Binance Smart Chain movement…
Right now crypto is going viral. It’s growing its user base like it never has before and when that happens there are just so many people who need what Binance is offering which is essentially a low fee ETH virtual machine (EVM) compatible environment that allows for the amazing developments that happen on Ethereum to be ported over to Binance and essentially be cheaper and easier to use.”
As the shift occurs, Wainman says that crypto investors should look at the projects and markets that have done well on the Ethereum blockchain and find their BSC equivalents.
The strategy will allow traders to stay one step ahead of the market and find those projects that are on the verge of breaking out but haven’t gone parabolic yet.
“Using this framework of understanding what’s killing it on Ethereum and what’s bound to attract some eyeballs on Binance Smart Chain is your key to unlocking the future of gains. And this is how you can identify gems before they’re gems – before they go on their rocket rides.”
As examples of the “BSC effect,” Wainman cites the rapid success of BSC-based projects such as oracle and data retriever Berry Data (BRY) and decentralized lending protocol and bond issuer Multiplier (MXX).
As for which sectors of the crypto economy Wainman is focused on, he notes that decentralized finance (DeFi) and insurance projects built on BSC will likely perform well as users shift over to the cheaper chain.
“Something that is inevitably going to be needed here is insurance. Just like DeFi needs data, DeFi also needs insurance because there’s a ton of scams, bugs, exploits, pretty much the threats to this incredible amount of money flowing around from smart contract to smart contract is only growing and if you really want to unlock billions or trillions of dollars in total value locked (TVL) for DeFi you’re going to need to have some kind of insurance.
Especially these big funds, these ultra-high net-worth individuals and these publicly traded companies – they’re actually required to have insurance and you cant get this stuff at Allstate.”
Wainman tells his subscribers that whatever insurance project pops up for BSC is likely going to have a lot of momentum once it arrives on the scene because as far as he can tell, there is no insurance leader on that blockchain.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Design Projects/Andre Boukreev