The cryptocurrency market bull run slowed over the past week, and most cryptocurrencies saw small drops. However, March may revive the price increase, according to a leading trader.
Lark Davis recently announced the six altcoins it is looking forward to the most for the next month.
The famous trader told 224,000 YouTube subscribers, “There is a new catalyst that can prove that these are all events that drive the market and so it might be worth paying attention to. As an investor, you should keep these coins on your radar. ” made the explanation.
The first altcoin on its radar was Cardano (ADA), a cryptocurrency that saw huge growth last month. ADA hit an all-time high of $ 1.48 yesterday and was trading at just $ 0.3 a month ago.
Davis pointed to the upcoming hard fork as the main price catalyst.
“This hard fork will help Cardano take the next steps towards becoming a fully functional ecosystem.”
“This is just the first step,” he added. However, traders should be wary of any price drop that may come when the Mary hard fork is released. This may be the result of the “buy the rumors, sell the news” phenomenon.
The second coin the trader is following is Kusama (KSM), a Polkadot-based project. “The reason Kusama was being watched in March is because Parachain auctions are coming to the Polkadot ecosystem soon and the first stop is Kusama,” Davis said. However, the exact date of launching parachain auctions is still unknown. Kusama doubled its price to $ 209 last month. Davis expects this rally to continue “in anticipation of the first parachain auctions”.
The trader also tracks Litecoin (LTC). The upcoming Mimblewimble upgrade could cause enough excitement to see Litecoin make some new spikes and finally enter price exploration.
Davis is also following the Polygon (MATIC) project, previously known as Matic Network. Ethereum’s fees have continued to rise rapidly in recent months. They hit an annual high of $ 39.49 a week ago and are now at $ 11.48, according to YCharts data. This pushed more users to explore alternatives and started taking advantage of Polygon.
Investors should also pay attention to Injective (INJ), a fully decentralized Tier 2 exchange. It partners with key players such as Avalanche, Marlin, Ocean Protocol and UniLend. The project announced in December that it will support mainstream stock trading, the first DeFi platform to offer this feature.
“Injective is currently in the third and final stage of the testnet, so soon we will receive an official announcement of the mainnet launch. This will bring a tremendous amount of hype. ”
The last coin on its list is Uniswap (UNI). DeFi exchange has been working on the v3 update for a while. Davis believes we’re getting closer to launch.
“We are more and more likely to receive an announcement about the release of Uniswap v3. This will mean two very important things for Uni token. The first is that the fees will be shared with the token holders. The second meaning is that it will include Layer 2 scaling. “