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Market Expert Highlights Top Coins to Watch as Ethereum (ETH) Hits 22-Month High

Market expert Miles Deutscher has identified several key trends and developments in the cryptocurrency market, focusing particularly on the rally in Ethereum (ETH) and its implications for layer 2 (L2) decentralized finance (DeFi) altcoins.

Deutscher highlights that ETH’s recent rise to a 22-month high of $3,130 has sparked increased interest in L2/DeFi altcoins, presenting potential opportunities for investors.

Ethereum Price Strength Continues

In a recent social media post Holding above the psychologically important $3,000 level, ETH’s bullish momentum is further fueled by reports of Justin Sun, the founder of TRON, purchasing over $500 million worth of ETH in the last days.

Deutscher remains bullish on ETH and ETH betas ahead of proposed dates for exchange-traded funds (ETFs) in May and Dencun’s next update in March. There are also possible signs of an ETH/BTC breakout, with investor Andrew Kang actively increasing his long position in ETH.

First, in its altcoin watchlist, Deutscher highlights the proposed fee change taking place on Uniswap (UNI). This US-based decentralized crypto exchange has recorded notable price gains of over 37% in the last week, which could have significant implications for the entire industry from a regulatory perspective.

In particular, the analyst believes this development could trigger a broader rotation into other DeFi 1.0 tokens such as Curve DAO (CRV), Compound (COMP), Aave (AAVE) and Frax Share (FXS), THORchain (RUNE), GMX . , as investors look to capitalize on the DeFi scene.

Turning to another altcoin that could see a price rise, Deutscher suggests that the early launch of Blast L2, founded by the same individual behind BLUR, presents an opportunity for BLUR participants to receive tokens from the airdrop and potentially even integrate more in the ecosystem.

Deutscher suggests that BLUR offers an alternative way to gain exposure to the Blast project, which has generated bullish sentiment from several funds and opinion leaders.

Following the positive news surrounding Uniswap, DYDX has been on the rise, with the token recording a 7% price increase over the past seven days. However, Deutscher warns that a significant unlock is expected this week, which could prompt some recipients to sell, which could lead to a temporary price drop.

Next, speculation surrounding the upcoming launch of Aevo (AEVO), which will allow developers to launch their protocols in its rollup and introduce an incentive program, is growing and generating interest in Ribbon Finance (RBN).

Given these developments, Deutscher notes that the prospect of pre-markets and note markets receiving “massive” attention and the recent record $4 million in fees position RBN in an exciting narrative.

Deutscher’s ideas point to promising trends

Following the mention of COTI by Deutscher last week, the coin saw growth of over 100%, breaking through key resistance levels. With the launch of its new privacy-enhancing L2 coinciding with the upcoming Ethereum Dencun upgrade, Deutscher notes that the protocol is in a favorable position for further price growth in the market.

At the other end of the spectrum, Deutscher recognizes the rapid pace of market turnover and suggests keeping an eye on Artificial Intelligence (AI) coins, which, as NewsBTC reported, have seen significant gains from the hype surrounding AI projects like Worldcoin. (WLD).

Finally, with signs of life emerging over the weekend, according to the analyst, Rollbit Coin’s (RLB) burn mechanic positions it as a leader in the “Rev Share/Real Yield” narrative. 24 hours.

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