5 Altcoins to Watch in March, According to Altcoin Daily
A prominent analyst names the top 5 altcoins to watch in March 2022, including three of Ethereum’s competitors.
In the Video Its newest YouTuber, Altcoin Daily co-host Aaron Arnold, says he’s bullish on ETH and its Layer 1 peers.
“I’m bullish on alternative Layer 1s, but let’s not forget that the king of Layer 1 is Ethereum.
How can one not be optimistic when so many different industries contribute to Ethereum’s amazing token economy? Like NFT or DeFi.”
“The total number of DeFi addresses is 4.4 million, a 203% increase from this day last year.”
Total number of DeFi users over time | Source: jacqmelinek
Arnold is also bullish on Layer 1 Cosmos (ATOM), known as the Internet of Blockchains. Refer tweet by KOL Erik Voorhees, Arnold claims that ATOM is “doing great things in Layer 1 space”.
“The Cosmos ecosystem is gaining momentum and is unique among Layer 1 alternatives to Ethereum. It is structured as a natively interactive layer 1 constellation. This means horizontal scaling, where each DApp (decentralized application) generates its own capacity. And also means assets can be moved between chains.
I’ve been a fan of Cosmos for a number of years, mainly because A) smart developers who I know will love trying it out and B) it doesn’t have decentralization like Layer 1 (Proof-of-Stake) or sacrifices others . It is decentralized and highly decentralized. At the same time, the user experience of the actual transaction is very good.”
ATOM/USDT | Source: Trade View
Arnold is also bullish on Ethereum-competing Layer 1 solution Solana in the coming months, as Solana’s NFT Neon marketplace has announced it will begin selling NFTs in vending machines in New York City.
“This is probably the coolest thing you can buy from a vending machine since you were given bouncing balls as a kid.”
Arnold’s last favorite Ethereum competitor is Avalanche (AVAX). According to the report, the platform received $25 million in institutional investment last week. Arnold said the news sent AVAX prices up 20%.
AVAX/USDT | Source: Trade View
Following Ethereum alternatives, Arnold is also bullish on lesser-known gaming altcoin Splinterlands (SPS). The project recently signed an agreement with media giant Warner Music Group (WMG). Arnold calls the deal to develop new blockchain games with existing WMG artists a “great partnership.”
SPS/USDT | Source: Trade View
Oana Ruxandra, Chief Digital Officer and Executive Vice President of Business Development, WMG said of the acquisition:
“I think we cannot underestimate the possibilities of P2E gaming. Our partnership with Splinterlands focuses on artists and their music as we develop and maintain all tokenized games together.
As we build, we will provide our artists with new revenue streams while continuing to increase fan engagement with the value already being created.”
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