Crypto trader and Altcoin Daily co-founder Austin Arnold is naming eight altcoins that he believes will rally in March.
In a new video, Arnold kicks off the list by spotlighting cross-chain peer-to-peer digital asset exchange Bondly (BONDLY).
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Arnold highlights that non-fungible tokens (NFTs) or digital collectibles is a fast-growing field and that Bondly, which recently facilitated the sale of $3.5 million worth of Logan Paul’s NFTs, is primed to grow along with the sector.
“NFTs are still in [their] heating up mode. People are still increasingly becoming interested in NFTs. And while there’s always going to be ebbs and flows in the market, I think you can see that NFTs are what people are interested in.”
The Altcoin Daily host taps Cardano (ADA) as the second altcoin on his list, citing its relatively cheap gas fees when held up to Ethereum’s (ETH) skyrocketing fees and its association with celebrities such as Kiss bassist Gene Simmons.
“Cardano’s got a great narrative going into March. ETH gas fees are high, people like Cardano, celebrities are promoting it. Cardano is one to watch in March, it has yet to break its market structure. I’m bullish.”
Chainlink (LINK) comes in third with its recently upgraded Off-Chain Reporting (OCR) network being cited as a bullish sign.
“… Chainlink has a great narrative going into March. The news is that ‘Chainlink rolls out OCR system upgrade, reducing gas costs tenfold.’ So people are very aware of how gas fees are limiting certain networks. Chainlink, which is on top of Ethereum, is reducing gas costs tenfold. Surely, this is a bullish thing in March.”
The fourth coin that Arnold expects to rally in March is the adaptable smart contract platform Tezos (XTZ), which is now available to trade at one of the oldest banks in Switzerland, and the fifth is Umbrella Network (UMB).
The Altcoin Daily host believes that the high demand for Umbrella Network’s Initial Decentralized Exchange Offering (IDO) earlier this month is a particularly bullish sign for the coin’s prospects.
“‘The February 9th offering saw 10 times the amount of hopefuls sign up as the 1,000 randomly selected slots available with 2.5 million UMB tokens being distributed to only 625 participants during the sale. The IDO raised 72 ETH worth about a $0.25 million.’”
Liquidity aggregator Orion Protocol (ORN), which is nearing its mainnet launch, comes in sixth on Arnold’s list.
The next coin Arnold highlights is cross-chain decentralized finance protocol SuperFarm (SUPER) which has its own NFT marketplace.
“If you’re bullish on NFTs this is such a new project. I could see this project doing well.”
Ethereum closes out Arnold’s top eight, as he warns traders not to count the number one smart contract out just yet.
“Do not count Ethereum out just because it has high gas fees. It has high gas fees because people want to be a part of the network and are using it.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Catmando/Andre Boukreev
