Nicholas Merten Predicts Three Layer 1 Protocols Will Outperform Bitcoin
Nicholas Merten, a prominent crypto analyst is looking into three altcoins that he believe will make big moves once the altcoin market starts to outperform Bitcoin (BTC).
In a recent video, the analyst shared with his 480K subscribers on YouTube that as altcoins are ready for a breakout, he is looking specifically on one vertical that could bring the most yields.
“So generally speaking, we’re still setting up the framework here for altcoins to make a killer breakout and still continue to outpace Bitcoin over the rest of the year. But I want to go ahead and talk about the sector that’s garnered a lot of interest from me.
There’s the Metaverse out there, there’s NFTs, there’s decentralized finance (DeFi)…so what is there that really is almost a time-tested and true trend that we’re seeing within the crypto space? Well, we’re seeing emerging layer 1s.”
According to Merten the layer 1 newcomer protocols are a very good choice for crypto investors. He identifies three altcoins in this category to follow.
e-Radix (EXRD)
The first asset Merten is looking into is e-Radix (EXRD), the first layer-1 built specifically for decentralized finance (DeFi), is going through a strong rally against Bitcoin (EXRD/BTC).
“You can see here against Bitcoin it had a descending wedge break out, volume has really surged, price has really started to break out, and the momentum is really phenomenal. Every time we’ve been pulling back, we made support on previous resistance…”
At the time of writing, EXRD is changing hands at $0.50, up 12% on a weekly chart.
Energi (NRG)
The second coin on the list is Energi (NRG), a foundational blockchain with smart contract capability, decentralized voting and a self-funded treasury. According to Merten, NRG could be ready to break out after trading sideways for a while.
“I think now, with a lot of the fundamentals that are coming out of Energi, it could set the stage where it could pop up higher and start to climb up even further and maybe even kick-off its first major bull rally in some time. I like to find these plays that have been silent, working behind the scenes on fundamentals.”
At the time of writing, NRG is trading for $2.67, up 52% on a weekly chart.
IOTA (MIOTA)
Finally Merten looks into IOTA (MIOTA) – an open-source distributed ledger focused on the internet of things. MIOTA, similar to EXRD, has been in a long accumulation and looks ready to break out.
At the time of writing, MIOTA is trading at $1.40, up 7% on a weekly chart.
