KEY POINTS

  • Solana is a potential alternative to Ethereum.
  • Investors might benefit from Fantom’s atypical design.

After a strong year in 2021, the cryptocurrency market has had a terrible start to 2022, dropping 18% to $1.8 trillion. However, the industry’s fundamentals appear solid, especially given record inflation and geopolitical uncertainty, attracting investors away from fiat currencies. But which crypto is best to buy now? Here’s a look a two cryptos we’re buying this month.

READ: TWO CRYPTOS TO CONSIDER BUYING LONG TERM

Both Fantom (CCC:FTM) and Solana (CCC:SOL) might provide excellent opportunities to bet on the crypto market’s recovery in March and beyond.

Fantom

The first crypto we’re buying now is Fantom. Fantom is a blockchain platform founded in 2019 and aims to host decentralized applications (dApps). Decentralized applications are programs that employ self-executing smart contracts to provide services on the network. It has an affordable valuation and strong technical specs, positioning it for long term growth.

According to its creators, Fantom claims to be the “fastest public blockchain in crypto,” based on the time-to-finality metric. Time-to-finality is a metric that compares how long it takes for transactions to finish confirmation. According to Fantom’s developers, this is a more telling statistic than transactions per second since it accounts for the length of time required to complete purchases rather than the number of operations processed at once.

READ: IS IT TOO LATE TO BUY ETHEREUM?

That said, Fantom has not yet released time-to-finality benchmarks for its platform versus rivals. As a result, investors will have to wait until additional information is available before comparing it to other blockchains.

With a market capitalization of just $4.2 billion, Fantom is considerably smaller than significant rivals such as Solana and Ethereum ($29 billion and $318 billion, respectively). As a result, its low price makes it an excellent choice for investors who missed out on the more popular platforms when they were cheap.

Solana

Next up is Solana. Why are we buying this crypto now? Solana is a cryptocurrency worth $29 billion that’s perfect for investors looking to put money on a more established dApp platform. The Solana blockchain has industry-leading technical capabilities, and its dynamic development team is addressing recent stability issues.

With a transaction rate of 50,000 per second, Solana’s speed outperforms other blockchains like Ethereum (CCC:ETH), which can only process around 15 transactions per second or less. This blistering fast pace attracts dApp developers looking for a highly scalable platform. Recently, basketball legend Michael Jordan launched HEIR, a non-fungible token (NFT) platform on Solana. NFTs are digital proof of ownership recorded on the blockchain and are becoming increasingly popular in gaming applications.

This project is strong evidence of the concept for Solana’s blockchain and a potential indicator of its increasing mainstream acceptance.

On the other hand, Solana has its share of problems. For example, in January, the platform was hit by a series of outages due to duplicate transactions. Therefore, its developers are working on fixes that should eliminate these issues.

The need for speed

Blockchain performance is more critical when applying the technology to more complex use cases. However, Solana and Fantom despite significant technological capabilities, they’re preferable for different investment styles. Solana is a better choice for investing in a bigger and more established platform. On the other hand, Fantom is a better entry point into a long-term growth opportunity than Solana.

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