Crypto Trader Tyler Swope Is Bullish on Several Altcoin Projects As End of 2021 Approaches

Crypto investor Tyler Swope is unveiling his top altcoins as volatility rattles the overall crypto markets.

In a new video, Swope tells his 298,000 YouTube subscribers that his number one altcoin is decentralized reserve currency OlympusDAO (OHM).

“In a short amount of time, it’s become one of the most diversified, non-protocol token treasuries in crypto… Purchasers of OHM are incentivized to HODL and stake as the APYs [annual percentage yields] for staking are insane. Currently over 7,300%!

Olympus has started a DeFi revolution, which is apparent from the amount of forks created based on the protocol… OHM is the most-forked protocol of the year, and the amount of forks based on its code is reaching levels only seen by three [other] projects: Bitcoin, Ethereum, and Uniswap. This is pure validation that OHM has created something special.”

Olympus has also attracted the attention of high-profile investor Mark Cuban, who bought and staked OHM back in July.

At time of writing, OHM is down 8.23% on the day and trading for $752.65.

Next on Swope’s list is REN, an open protocol that provides inter-blockchain liquidity access for decentralized applications (DApps). REN is an Ethereum-based token that powers a protocol enabling crypto transfers between different blockchains.

The analyst says,

“This token has slid, and in my opinion, is ready for a pump… I have a feeling REN is going to recapture the top 100 cryptos and possibly even capture its old March rank and even further. Why? REN announced that Host-to-Host was coming to their protocol.

[REN ecosystem advocate] Maximilian Roszko put out a tweet explaining it. Max said, ‘H2H means RenVM will be able to bridge native coins and tokens between the chains it supports, becoming a full-scale bridge… RenVM will go from supporting seven assets, mostly legacy coins such as BTC and DOGE, to being also able to support most of the tokens in the crypto space, which is in the thousands.’

Major interoperability is coming.”

REN is currently priced at $0.89, down 6.68% for the day.

Wrapping up his analysis, Tyler looks at Energy Web Chain (EWT), an enterprise-grade blockchain platform built to serve the energy sector’s logistical demands. The platform’s native token EWT provides network security and validator compensation.

Tyler highlights two positive catalysts for EWT.

“Energy Web recently updated their validator code of conduct, and in it, they have a section on obvious rent-seeking…

‘Rent-seeking is defined as validators liquidating greater than 10% of their block reward balance within any given 30-day period.’

Validators who have been rent-seeking are no more. Those who have been dumping a lot when the price goes up.

You should also know that something big is coming for Energy Web by the end of the year: staking. Last week, they announced a booster period for early stakers, over 21% APY.”

EWT has been mostly flat on the day, trading for $9.73 at time of writing.

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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.

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Top 3 Best DeFi Coins to Purchase in July 2021

The first half of the year is almost over, and we are ready to start Q3 at full strength. What better way to do that other than hunting the best DeFi coins for amazing profits in the long run? 

Ready to find the crypto celebs of July 2021? Then let’s start!

The DEFC – from Rich to Richer

The DeFi Coins project amazed a lot of crypto enthusiasts due to its unique approach to static rewards. 

The process of earning passive income is very much like conventional dividend payments. The more you contribute to the liquidity pool, the bigger rewards you’ll get. 

Every time a user makes an exchange, the platform will require a 10% tax. This tax is distributed further to create liquidity and to reward all DEFC owners. 

Let’s do the math. 

A guy named Andrew owns 1% of the total liquidity pool, for example. Michael just exchanged $3,000 worth of tokens, which means the tax will be $300. Half of this sum will get straight to the liquidity pool, and the other half will be divided to the other owners. If Andrew owns 1% of the LP, he will get 1% of the second half. 

And take note that this process is available for every exchange that happens on the platform. So there can be thousands of Michaels in a matter of minutes. 

The STC Token – Master DeFi Creation

If you don’t want to limit your crypto activity to trades, then Student Coin is exactly what you need. This new crypto project allows users to build their own STC-based tokens, no matter their type. 

From NFTs to corporate tokens, the choice is just yours. 

If you wonder how they can help you, note that you can use these tokens to propose crowdfunding projects and quickly get the funds for your business idea or student taxes. 

The EWT – Use the Energy Smart

The Energy Web Token is part of a project that combines the interest for financial freedom and environmental protection. 

The developing team is planning to allow users to sell electricity brought by their own devices, resulting in a less power-consuming environment. And this is just one of its features. 

Owning the EWT will give you signals of when is the best time to use electricity to avoid high costs. And it will also limit your power consumption — all for the best.

With that being said, get ready for an exciting crypto summer!

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This Undervalued Altcoin Is Heading for the Top 10, Says Crypto Trader Tyler Swope

Crypto trader and influencer Tyler Swope believes the utility token behind an energy-focused blockchain is set to overtake most crypto projects in market cap.

Swope says the ambitious project is working to modernize the electricity markets and break up its existing monopolistic structure.

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He explains that Energy Web chain (EWT) employs the Decentralized Autonomous Area Agent (D3A) market model which “leverages smart contracts to perform control and financial settlement for energy resources of any size and type.”

The analyst highlights that Energy Web has important ties to Kevin Johnson, the principal energy strategy & innovation lead at PG&E, one of the largest energy storage players in the game.

Back in 2019, PG&E executed a pilot program to test existing distributed energy resource management systems (DERMs) and determined that there were not any (DERMs) ready for the firm’s investment. However, Swope notes that Energy Web’s blockchain was not live at that time and thus was not part of that pilot program.

“Energy Web has a live blockchain, but also the D3A, decentralized autonomous area agent. This is the comprehensive DERMs PG&E was looking for in 2019.

What does the D3A do? The D3A optimizes the operation of each grid device through a modeling tool, allowing each hierarchy to be managed by its representative agent.

Thus it can be used as a tool to configure an optimal market design and make investment and management decisions. This delivers participants an enhanced understanding of smart grid mechanics, facilitating adoption of bottom-up energy markets and decentralized energy management like never before.”

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PG&E and electric carmaker Tesla, which have collaborated on various energy storage projects in California for years now, per Swope, have been on the hunt for such a system for some time and PG&E appears to have taken a chance on the crypto project.

“…this DERMS platform has eluded PG&E and Tesla for some time. They couldn’t find it as of early 2019. Thus PG&E decided to take a chance on Energy Web chain, the D3A. They joined the alliance, becoming an affiliate member…”

The Energy Web Token (EWT) is currently ranked 107th by market capitalization, according to CoinGecko.

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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.

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