Analyst: Accumulate These 3 Altcoins In The Bear Market!

A widely followed crypto analyst talked about three altcoin projects he thinks investors should watch. He referred to these projects as “the most promising altcoins to accumulate before the next bull cycle.” Here are the details…

Competitors to the leading altcoin ETH are in the focus of analysts

In a new image with analysts Benjamin Cowen and Rob from Digital Asset News, the host of InvestAnswers talked about the assets he’s following. He says that in the current bear market, there are three crypto assets worth looking at, apart from Bitcoin (BTC) and Ethereum (ETH). They mentioned Ethereum competitors Solana (SOL) and Phantom (FTM). Apart from that, they identified the scaling solution Polygon (MATIC) as the altcoins on their radar.

The analyst stated that for a while, the only thing he bought other than selling something was Bitcoin (BTC) and Solana. He stated that he has changed his position on Ethereum because his aim is to keep SOL and ETH equal. “Because I wanted Solana and Ethereum to be exactly the same size… I wouldn’t even consider Ethereum an altcoin because it’s too big,” he added.

Phantom and MATIC are preferred

Talking about Ethereum, he states that its price is high “in terms of a relative market value assessment”. “I think it’s very valuable compared to what he actually did today. That can of course change with adoption,” he says. “But based on what I’m looking at, token economics and daily active users, I love MATIC. It would be my #3 coin,” he adds. Finally, the expert talks about choosing Phantom (FTM).

According to the analyst, Fantom has one-to-one daily active users with Cardano (ADA). But in terms of market price, it equals 1 out of 26. “Highly acclaimed, fast, technological,” he says of Phantom. He talks about the fact that Andre Cronje’s positive features predominate, although he suffered many blows with his departure from the project. As we reported, Andre Cronje, known for founding Yearn Finance (YFI) and bringing yield farming to the market, announced that he was withdrawing from the Phantom project. Subsequently, the price of the coin had decreased.

What about the prices of these altcoins?

Meanwhile, at the time of writing, Solana (SOL) is changing hands at $29.95, up 0.1 percent. The cryptocurrency ranks ninth with a market cap of $10.7 billion. SOL suffered a loss of 8.1 percent on a weekly basis. On the other hand, MATIC is changing hands at $0.80, up 0.2 percent.

The cryptocurrency ranks fourteenth with a market cap of $5.9 billion. Polygon has recorded a 1.5 percent loss in price over the past week. Finally, Phantom (FTM) is changing hands at $0.2055 with an increase of 0.5 percent. The cryptocurrency ranks 76th with a market cap of $522.2 million. FTM seems to have dropped 7.2 percent in the last 7 days.

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