As the globe faced with the rising Russia-Ukraine situation, crypto prices continued to suffer in February. The Russian invasion coincided with the Federal Reserve’s announcement of monetary tightening. Economic uncertainty has a tendency to harm high-risk investments like bitcoin, and the uncertainty isn’t going away anytime soon.
March is likely to be another tough month for the cryptocurrency sector, especially if authorities continue to press for more crypto regulation. This has been on the cards for a while, but it might come sooner if states suspect Russia of exploiting crypto to avoid sanctions.
As a consequence, it is a smart moment to stick to more well-known cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) (ETH). Smaller cryptos are more vulnerable to price drops and are less likely to survive.
Here are several cryptocurrencies to keep an eye on in March if you’re seeking for alternatives.
1. Sandbox (SAND)
Sandbox is a popular metaverse token that rose to prominence after million-dollar land sales and celebrity endorsements from Snoop Dogg. Last year, its value increased by more than 15,000 percent. Investors are unlikely to see those kinds of profits again, but it’s still a fascinating idea for metaverse lovers. Sandbox is accessible on the Polygon network, allowing users to stake SAND without having to pay Ethereum gas costs.
2. Cosmos (ATOM)
Cosmos environment has recently received a significant improvement. The cryptocurrency that bills itself as the “internet of blockchains” has huge ambitions for the year 2022. Cosmos focuses on interoperability or allowing multiple networks to communicate with one another, which is crucial for blockchain’s progress. With Cosmo’s newest Interchain Accounts improvement, one blockchain on the system may have access to the features of another, like as staking and token exchanging.
3. Polygon (MATIC)
Ethereum, the world’s second-largest blockchain, will undoubtedly suffer from excessive network congestion and hefty gas prices until it can finish its upgrade (which is unlikely to happen until 2023). Some projects have shifted to alternative smart contract cryptos like Solana (SOL) or Avalanche as a result of this (AVAX).
However, Polygon, a layer 2 solutions aggregator, allows developers to continue using the Ethereum platform they are familiar with. By resting on top of an existing blockchain, Layer 2 solutions improve performance.
4. Cardano (ADA)
Cardano is a delegated Proof of Stake (dPoS) blockchain that works in a similar way to Ethereum in terms of smart contracts. This project’s marketing promotes a scientific approach. Under Charles Hoskinson, progress is sluggish, with many deadlines already being pushed back. Cardano finally reached a significant milestone with the deployment of the staking-mainnet in mid-2020 and the Alonzo upgrade.