3 Ethereum Competitors to Keep an Eye on Even After the Merger

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The Ethereum merger is likely to anchor Ethereum’s position as a top-layer-1 chain. That’s because, with better scalability and lower costs, more developers are likely to find Ethereum even more attractive.

Does this mean that the platform blockchain market has been cornered and there is no room for other players? far from! While Ethereum will likely anchor its position as the number one platform blockchain, others will still thrive. That’s because the costs for Ethereum will still be higher on average than other players in the industry.

In fact, at current low prices, this could be a good time to invest in low-1s that have the potential to do well if Ethereum triggers a broader market rally in the near term.

Solana (SOL)

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Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited for more experienced investors and it offers a large number of cryptocurrencies to choose from, with over 600. Binance is also known for its low trading fees and a multitude of trading options that its users can take advantage of such as; peer-to-peer trading, margin trading and spot trading.

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Solana (SOL) prides itself on being one of the fastest platform blockchains and is unparalleled in terms of transaction costs. Solana can handle up to 50k transactions per second at a penny cost.

While Solana has been fearful of security lately, developers seem to be confident in it as its adoption is growing rapidly. For example, Solana NFTs are growing exponentially and the number of DeFi projects launched on Solana is also increasing.

One of the major projects moving to Solana that could change her fortunes in the short to medium term is Helium. Helium is considering a shift to Solana, and once it does, it will be a huge credibility boost for Solana.

It will be a good indicator that Solana still has room to grow, despite the increasing pressure that Ethereum will put on Layer-1 blockchains in the future. Bearing in mind that Solana is a long way from its most recent highs, it is clear why it is one of the best cryptocurrencies to watch even after the Ethereum merger.

Terra Classic (LUNC)

Because LUNC is such a new asset, it has yet to be listed on major exchanges. However, you can still buy LUNC with a DEX (decentralized exchange), which just means there are a few extra steps. Follow these steps to buy LUNC now:

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1. Buy ETH on a regulated exchange or broker, such as eToro ›

We recommend eToro because it is one of the world’s leading multi-asset trading platforms, an all-in-one exchange and wallet with some of the lowest fees in the industry. It is also beginner friendly and has more payment methods available to users than any other service available.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You need to make your wallet, get your address and send your coins there.

3. Connect your wallet with the 1Inch DEX

Go to 1Inch and ‘connect’ your wallet to it.

4. You can now exchange your ETH for LUNC

Now that you’re connected, you can exchange for hundreds of coins, including LUNC.

Terra Classic (LUNC) has been in the news recently, mainly due to its token burn implemented as an on-chain load. While this is the reason for the massive pump seen last week, Terra Classic remains one of the most capable Layer-1s on the market. It still has the technical capabilities and many projects that build on it. That’s despite the collapse of the UST that nearly destroyed the network. Terra Classic’s scalability, low cost and now token burn puts it in a unique position to compete with Ethereum even after the Ethereum merger.

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Avalanche (AVAX)

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Avalanche (AVAX) is another top-tier-1 cryptocurrency that is gaining popularity quite quickly. The most recent indications of Avalanche’s growing adoption include GMX, a decentralized spot trading exchange, and DeFi aggregator 1Inch. As one of the more stable L-1 chains, Avalanche is likely to register growing adoption even after the Ethereum merger.

Since Avalanche is trading at record lows compared to its most recent all-time highs, it stands out as one of the best cryptocurrencies to watch, not just in September, but in the coming days.