Altcoin Daily host and crypto analyst Aaron Arnold is spotlighting a new under-the-radar altcoin, as the crypto markets continue to correct and Bitcoin trades around $35,000.
In a new video, Arnold tells his 848,000 subscribers that he is investing in decentralized finance (DeFi) protocol Formation Finance (FORM). Formation FI is a cross-chain DeFi platform that is optimizing the search for favorable risk-reward ratios in yield-farming opportunities across the crypto space.
The crypto influencer notes that Formation FI, while entering a sector of the crypto space that is quite popular, had an impressive launch on the DAOMaker launchpad and is backed by top layer 2 scaling solution Polygon (MATIC).
“Formation Finance, (FORM)… Smart farming 2.0… Even if you don’t like DeFi, even if you don’t think DeFi is anything to write home about, I hope you can understand that everybody else is really interested in DeFi and yield chasing, or yield farming.
They broke some records on DAOMaker’s Strong Holder Offering and besides that – really why I found them interesting is because they’re backed by some big names, Polygon, a lot of venture capital firms…”
Arnold says Formation FI, with its attempt to automate the yield chasing process, is exactly the type of crypto project that he’s interested in investing in right now.
“In a world where there’s so much yield chasing, everybody is trying to find the best yield, they’re taking a mathematical approach and really making it a one-stop shop bringing the front end to DeFi blocks…
This is a new project that I just invested in… I’m just saying this is the type of stuff I’m looking at.”
As for projects Arnold is interested in for the long haul, he references a recent Altcoin Daily tweet in which the traders spotlight the three coins they’re confident in holding for this bull cycle and longer.
#Bitcoin Hodl position. 👑#Ethereum cycle position. 🚀#Cardano summer position. 🔥
What more could you need? 🤔
— Altcoin Daily (@AltcoinDailyio) June 18, 2021
Formation FI debuted on the market this past week and is trading at around $0.30 at time of writing, 27.70% off its all-time high of $0.41.
l
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/Kalifer – Art Creations/stockphoto-graf
Credit: Source link
