Popular analyst and crypto trader Lark Davis shares in his latest YouTube upload that Theta Network (THETA), Vega Protocol (VEGA), and Formation Fi (FORM) are expected to do well this month with special mention for Cardano (ADA) and Polygon (MATIC).
ADA is a ‘Massive Beast of Cryptocurrency’ says Lark Davis
On June 1, crypto analyst Lark Davis released a YouTube video explaining his top five altcoins of the month.
Among the top altcoins mentioned in his video were Theta Network (THETA), Vega Protocol (VEGA), Formation Fi (FORM), Cardano (ADA), and Polygon (MATIC).
The analyst gave special mention to Cardano (ADA) calling it a ‘massive beast of cryptocurrency’.
With ADA set to benefit from the upcoming Alonzo hard fork that will allow smart contracts to be deployed on the Cardano platform, Davis is optimistic that the cryptocurrency is set for a price surge this month.
“The introduction of smart contracts onto Cardano that’s going to be a big catalyst for this blockchain. I think in the run-up to the launch of those smart contracts, we are going to see the price continuing to rally as people get more and more excited about the launch of really Cardano’s full ecosystem finally coming into play” says Davis.
In fact, the latest report from CoinShares shows that institutional investors bought $10 million worth of ADA products around May 21st even as BTC funds saw outflows above $110 million and ETH saw outflows above $12 million.
MATIC Could Surge to $10
Similarly, Lark Davis is also expecting Polygon (MATIC) to outperform those of major cryptocurrencies this month with the altcoin already seeing its price rising to over 9,000% this year.
According to a MATIC network explorer, the network currently processes over 5.89 million transactions per day and has processed a total of 122 million transactions with over one million wallets on it.
“Polygon has just been roaring absolutely roaring over the last few months… right now, you’re looking at a situation where we could still see it get up like $10 per MATIC token, which is obviously great gains potential, but not as awesome as buying at four cents,” he adds.