In the realm of cryptocurrencies, the term altcoin consistently leads with Ethereum at the forefront. Despite this, analysts occasionally suggest names of other cryptocurrencies that could potentially rival Ethereum. Recently, an analyst discussed three projects that could potentially compete with Ethereum.
Ethereum’s Competitor NEAR
A popular crypto strategist believes that under improved conditions, three Ethereum (ETH) competitors could outpace the rest of the market. TheCryptoDog, on social media platform X, first mentioned Near (NEAR), noting its long-term upward trajectory.
According to the analyst, NEAR will be one of the fastest movers in this cycle and will capitalize effectively when the crypto market becomes active.
“I still believe that taking a position in NEAR for a few months is a good move today. Lock it in and do not swap. NEAR continues to show relative strength along with the AI (artificial intelligence) trend. It will perform better when the market turns.”
As of writing, a noticeable rise in NEAR’s price was evident, with an increase of over 5%, reaching a price level of $7.16.
Current Status of AIOZ and XAI
Next, the analyst mentioned closely following another layer-1 altcoin, AIOZ (AIOZ). Crypto Dog expressed a willingness to hold AIOZ for several months.
“It has been fluctuating for the last few months, should recover and perform better when the market returns. I am taking bigger, longer-term positions with fewer transactions.”
At the time of writing, AIOZ had seen a 3% increase over the last 24 hours, trading at $0.7952. This was reflected in the trading volume, which surged by 148% over the last 24 hours, exceeding $10 million.
The last altcoin on the analyst’s radar was the game-focused crypto project Xai (XAI), which emerged at the beginning of 2024. According to the analyst, XAI could see a 60% increase from its current level in the coming weeks.
“I think XAI could return to $1 by June, it seems like a good price right now. (I own a heavy bag).”
As of writing, XAI continued to trade at $0.61 after a 1.45% decrease.
