The popular cryptocurrency trader Lark Davis is listing six digital currencies that he believes to be good investment options for this month of March.
Each of the six altcoins mentioned has a catalyst that can move the market.
Therefore, it is worth paying attention. You should have these coins on your radar as an investor.
Cardano (ADA)
The first cryptocurrency on Davis' list is Cardano (ADA), which has grown significantly in recent weeks. About a month ago, the ADA only cost $ 0.30.
However, the cryptocurrency has soared to reach its historic price record of $ 1.48 on February 27.
According to Davis, the next fork in the chain is the main driver of price:
The big news for Cardano is that the hard fork Mary will be launched on the main network on March 1st. This fork will help Cardano take the next steps towards becoming a fully functional ecosystem. We will see tokens finally being implemented, we will see smart contracts in the main chain…
On the other hand, the trader has warned investors to be cautious about a possible price drop as soon as the update is released. This may be the result of the “buy on the rumors, sell on the news” phenomenon.
Kusama, Litecoin and Polygon
The second cryptocurrency on Davis's list is the Polkadot-based project, Kusama (KSM).
Regarding the digital asset, Davis explained that, in March, the Parachain auctions reach the Polkadot network and Kusama will be the “first stop”.
Thus, the analyst believes that the cryptocurrency rally should continue in anticipation of the first parachain auctions.
Davis' third cryptocurrency is Litecoin (LTC). Although the digital currency has not stood out in recent weeks, that may be about to change, according to Davis.
That's because the next update to Mimblewimble could rock the market and drive Litecoin's price toward its historic highs.
In addition, Davis believes that the Flare Network token's airdrop can also help cryptocurrency to rise.
Davis also said he is looking at the Polygon (MATIC) project, formerly known as the Matic Network.
According to him, almost 100 applications are already running on the Polygon network, including the decentralized finance networks (DeFi) QuickSwap and EasyFi.
For Davis, the growth of the project is a result of the high rates of the Ethereum chain.
DeFi Platforms
About DeFi market, Davis suggested that investors pay attention to the Injective Protocol (INJ).
After all, as Davis noted, the decentralized exchange (DEX) has made important partnerships recently, including Avalanche, Ocean Protocol and UniLend.
Parallel to this, the platform announced that it will be the first of DeFi to support conventional stock trading:
Injective is currently in the third and final version of its testnet, which means that we will have an official word on the mainnet launch soon. This will bring an enormous amount of hype.
Finally, the last token on Davis' list is Uniswap (UNI). The DeFi exchange has been working on its v3 update for some time and the launch is close, according to Davis.
When this happens, fees will be shared with Uni token holders. Second, there will be the implementation of Layer 2.
This will bring fees for using Uniswap from the current $ 50 to $ 60 for as a penny in gas fee per trade.
