A popular crypto analyst examines how altcoin projects challenging Ethereum (ETH) are performing. cryptocoin.com We are giving the details as…
InvestAnswers draws attention to these altcoin projects against ETH
In a new video, financial education YouTube channel InvestAnswers told its 401,000 subscribers that it has no doubt that Ethereum continues to be the dominant force that all competitors must contend with. “As I always say, Ethereum is dominant. But he has no food. Everything is running away from Ethereum – but other players are falling apart,” he said. The analyst cites “unique selling proposition, team, technology and community” factors as a few reasons why Terra (LUNA) and Solana (SOL) top the list of important Ethereum alternatives.
The InvestAnswers server also highlights the importance of incentives and momentum surrounding a crypto project. He says Avalanche (AVAX) and Phantom (FTM) meet those criteria. “Crypto is all about momentum. You have to monitor the temperature. Where all the flies go, you’ll be the one…” says the analyst, emphasizing the LTV (loan-to-value) factor for Phantom as an example.
The analyst then looks at Polygon (MATIC) and Binance Smart Chain behind BNB. This feels like Ethereum competitors may be at risk of failing. He cites the whale rate in Polygon and the centrality of Binance Smart Chain as the reason. At the end of the list are Polkadot (DOT) and Cardano (ADA), which are launched as wildcards. The analyst says they’ve both had terrible times in recent months. “Cardano has moved a bit today, which is great, but I hope it hits three dollars quickly,” he says.
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