The cryptocurrency market is going through troubled times. Due to their high risk assets, some altcoins/tokens may exhibit spikes and crashes. So, to take a look at projects to watch or avoid, let’s take a look at the list of “Jason”, host of A Chain of Blocks, a famous crypto-focused Youtube channel.
Altcoin projects to follow
Ethereum (ETH)
The first altcoin mentioned in the list, Ethereum (ETH), is a platform for many cryptocurrencies and decentralized smart contracts execution works. It is also the heart of the DeFi market. ETH is still in the first place when we talk about DeFi. It has a supply of one million in circulation and is taking on more than $12 million in investor funds locked in that contract. The merge, scheduled for
2022, could further cement Ethereum’s leadership throne when fees are basically zero and block times transactions happen almost instantly. Along with Merge, ETH is expected to see more demand.
Polkadot (DOT)
Polkadot (DOT) is the other altcoin that investors should pay attention to. Polkadot is a fragmented multi-chain protocol that connects a private Blockchain network that facilitates the cross-chain transfer of not only tokens but any type of data or asset, thus allowing Blockchains to be interoperable with each other. Polkadot is designed to provide a foundation for a decentralized blockchain internet, also known as Web3. A recent Polakdot event on Web3 and the metaverse:
Polkadot’ It is expected to return to its ATH level of $54 this year. According to the analyst, even this level can be exceeded. All the metrics show that DOT can achieve this. Its ecosystem is also developing faster than others. Polkadot is also one of the altcoin projects that entrepreneurs crypto hedge funds keep adding every month. Therefore, investors may follow Polkadot closely.
Projects to avoid
FTM (Phantom)
Altcoin that investors should be wary of: Phantom (FTM), according to the analyst. Fantom is a directed acyclic graphical smart contract platform that provides DeFi services to developers using its own bespoke consensus algorithm. FTM price has dropped to eight-month lows and continues this momentum. As
Kriptokoin.com, the departure of well-known DeFi developer Andre Cronje from the industry triggered a double-digit drop in FTM price.
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