Cryptocurrency analyst noted three promising altcoins in the “bear” market

Cryptocurrency investor and co-host of Altcoin Dailyco Austin Arnold opined that Chainlink, Avalanche and Cardano projects are profitable investments in the falling cryptocurrency market.

During his speech on YouTube, Austin Arnold (Austin Arnold) declaredwhich, when analyzing cryptocurrency projects, draws attention to five aspects:

1. by whom and how the project is financed;

2. whether the team is able to create and develop an effective product;

3. strength of ties with strategic partners;

4. how much the project is dedicated to solving real problems;

5. whether these problems will grow with the development of society.

According to Arnold, the first on the list of projects that meet all the requirements is Chainlink’s decentralized network of oracles (LINK). He noted that Chainlink proved to be one of the most stable projects in the previous bear market. The investor also drew attention to the activity of Chainlink developers and the success of the oracle network in blockchains such as BNB Chain (BNB) and Polygon (MATIC).

Next on Arnold’s list is the Avalanche smart contract platform (AVAX). The analyst called Avalanche “one of the best projects on the market” and a competitor to Ethereum. At the same time, in his opinion, the project effectively differs from Ethereum.

“Ethereum is trying to focus on decentralization, while Avalanche is focusing on scalability and the maximum number of users attracted by the lowest fees,” the investor said.

Arnold is also “very optimistic” about Ethereum’s other competitor, Cardano (ADA). The analyst claims that the Cardano ecosystem is “really thriving” with more than 5 million non-fungible tokens (NFTs) issued on its blockchain.

Earlier, Galaxy Digital CEO Michael Novogratz said that given the policy of the US Federal Reserve and the “bearish trend”, the market expects another significant drop in altcoins by 70%.