Crypto Analyst Looks at New ‘Gem’ Built on Polkadot He Is ‘Pretty Excited’ About

Earlier this week, crypto analyst/influencer Elliot Wainman, the owner/host of YouTube channel “EllioTrades Crypto” told his over 233K subscribers about a relatively new project built on Polkadot that he is excited about.

Wainman started by talking about Ether (ETH), which he believes is undervalued. He then re-iterated his strong belief in the huge growth potential of decentralized finance (DeFi), which he says “has serious legs.”

Two of the DeFi projects he mentioned were decentralized stablecoin exchange SnowSwap (SNOW), “an exchange liquidity pool built on Ethereum that is designed for extremely efficient stablecoin trading”, and Unistake (UNISTAKE), “a decentralised token protocol built to empower DeFi projects and incentivise liquidity providers through staking bonuses, yield farming and regular dividends”, PancakeSwap (CAKE), a leading DEX on Binance Smart Chain (BSC), and Bao Finance (BAO), which is “like SNX + Aave, but for Uniswap, SushiSwap and Balancer.”

He then introduced “a brand new gem” called OptionRoom (ROOM). The vision of this project is “to create a self-sustainable user governed oracle and forecast protocol built on Polkadot.”

With regard to OptionRoom, Wainman had this to say:

After seeing what happened with Bride Mutual (BMI), I think it’s worthwhile to cover some of these projects beforehand. I do like to give you opportunities that you can take advantage of in the moment. However, OptionRoom is a really cool one, and I think it fits the narrative of the moment, and I think it’s going to check a lot of boxes and having a really really strong launch. So, OptionRoom is actually combining a bunch of hot and trending and interesting use cases all in one little tight package...

Their fully diluted market cap [that] they’re start with is $5 million… as you can see here, they’re starting as a super micro here… anyway, they’re going to be launching soon.

On Friday (February 5), ROOM/ETH started trading on Uniswap:

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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