Solana

2 Best Cryptocurrencies to Buy in March

2 Best Cryptocurrencies to Buy in March

The crypto has had a rocky start to 2022, with the market down 18% to $1.8 trillion at writing. But industry fundamentals still look good, especially with soaring inflation and geopolitical uncertainty prompting investors to diversify away from traditional currencies.

Phantom ( FTM -0.55% ) and Solana ( GROUND 2.40% ) could make great ways to bet on a crypto bounce in March and beyond.

Phantom

Founded in 2019, Fantom is a blockchain platform designed to host decentralized applications (dApps) (these are programs that use self-executing smart contracts to provide services on the network). Fantom’s affordable pricing and impressive tech specs could set it up for long-term growth.

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According to its developers, Fantom is the “fastest public blockchain in crypto” on a metric called time-to-finality. Finality time measures the time elapsed between the submission of the transaction and its confirmation. And the Fantom developers believe it’s a more useful metric than transactions per second because it better captures the time it takes to complete transactions, not how many can be running at once.

That said, Fantom did not provide speed comparisons between its platform and its rivals in terms of finality time. Investors will therefore have to wait for more information before measuring them against other blockchains.

But with a market cap of just $4.2 billion, Fantom is significantly smaller than big rivals like Solana and Ethereum (worth $29 billion and $318 billion, respectively). Thus, its affordable valuation makes it a great option for investors who missed out on the most popular platforms when they were cheap.

Solana

With a market cap of $29 billion, Solana is an excellent cryptocurrency for investors looking to bet on a larger, more established dApp platform. The Solana blockchain has state-of-the-art technical capabilities and its active development team strives to solve recent issues with reliability.

With a transaction capacity of 50,000 per second, Solana’s speed surpasses major blockchains like Ethereum, which can only handle 15 per second or less. This super-fast speed attracts dApp developers who need a highly scalable platform for their projects. Recently, basketball legend Michael Jordan launched HEIR – a non-fungible token (NFT) platform on Solana. NFTs are digital proofs of ownership stored on the blockchain, and HEIR will include collectibles inspired by Jordan’s basketball career.

This project is a compelling proof of concept for the Solana blockchain and a potential sign of its growing mainstream acceptance.

That said, Solana also faces her share of growing pains. For example, the platform faced a series of outages in January due to duplicate transactions. But its developers are working on improvements that should help solve these problems.

The need for speed

Blockchain speed is becoming increasingly important as the technology adapts to increasingly complex use cases. But while both Solana and Fantom possess impressive technical abilities, they are suitable for different investment strategies. Solana is better for those who want to bet on a bigger and more established platform. But Fantom is a better way to enter the ground floor of a long-term growth opportunity.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end advice service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.