The prominent Defi platform Ethereum has garnered a lot of attention and risen methodically this year. It’s success has directed folks to look for more interoperators This has resulted in the rise of various competitors in the market.
Popular Analyst Altcoin Daily in a latest YouTube Video lists top 4 Ethereum competitors that are set to skyrocket this year.
The smart contract platform Solana ranks first on Arnold’s list (SOL). As an example of the platform’s early adoption, he cites to the Solana-powered version of the dollar-pegged stablecoin USDC, which recently passed $1 billion in circulation.
“Solana continues to conquer the market. They are building like no other and that’s why they make the list today.”
Polkadot (DOT) is the second ETH competitor that Arnold believes is on the rise.
He says,as for now, all eyes are on Ethereum, and all eyes are on Cardano. Polkadot is barely visible. And that is an indication of great potential of the token.
The third altcoin on Arnold’s list is Cardano (ADA). As the platform’s smart contract debut approaches, the crypto analyst believes the fifth-largest cryptocurrency by market cap might rise.
“…Cardano’s testnet is finally becoming smart-contract compatible and in about a month or two, definitely before the end of the year…So I’m bullish on Cardano.”
Last on the analysts list is the high throughput blockchain Elrond.
He says, Elrond, a blockchain similar to Chainlink (LINK), continues to merge and form alliances. Elrond is growing at the same rate as Solana and Ethereum. Also, their ecosystem is expanding at the same rate.