This article introduces ten cryptocurrencies that show interesting developments for the month of March, which could also have a positive effect on their price.
1. Cardano (ADA)
- Current price: $ 1.29
- Market Cap: $ 41 billion
- Market Capitalization Rank: # 3
March 1st is expected to be the launch date for the ADA hard fork “Mary”, making it one of the top events of the month. The upgrade is expected to bring Cardano closer to realizing its potential in terms of NFTs, DeFi, and the use of stablecoin by giving users the ability to issue and distribute tokens on the Cardano blockchain.
Mary is just the second of three tough forks that pave the way for the Goguen era that would fully integrate smart contracts and the ability to build decentralized applications (dApps) on the Cardano platform.
The creator, Charles Hoskinson, stated that everything will go according to plan and the hard fork is expected to be implemented as announced on March 1st. He also stated that users need to update their nodes by downloading the latest version of the Daedalus Flight wallet.
As for price action, ADA finally hit a new high of $ 1.54 on Feb.27, but has declined slightly since then. Even so, ADA is still trading above its all time high resistance area at $ 1 and the trend can be viewed as bullish while it is.
TradingView ADA chart
2. Theta network (THETA)
- Current price: $ 3.2
- Market Cap: $ 3 billion
- Market Capitalization Rank: # 27
THETA also plans to join the DEX (Decentralized Exchange) trend by releasing ThetaSwap v1, the first DEX based on the Theta blockchain. ThetaSwap uses the Theta wallet, which can be easily downloaded for Google Chrome and is secured by a 12-word mnemonic.
It is also planned to open a marketplace for non-fungible tokens (NFT) in the course of the first quarter of this year in addition to the second THETA hackathon.
In terms of price movement, THETA hit a new all-time high of $ 4.01 alongside its parabolic ascending support line on February 18, but has since shown significant weakness in the form of a bearish divergence in the RSI.
THETA Chart from TradingView
THETA Chart from TradingView3. IOST (IOST)
- Current price: $ 0.037
- Market Cap: $ 695 million.
- Market Capitalization Rank: # 84
IOST plans to focus on the decentralized finance (DeFi) sector in the second half of 2021. To this end, numerous partnerships have been formed, including Donnie Finance, which plans to launch seven new products this year.
In March, an air drop of their native token DON is scheduled to be sent to all IOST holders, with 10% of the total DON supply being distributed over the air drop.
As for price movement, after being rejected just before hitting an all-time high, IOST has returned to the $ 0.037 support area and is expected to ricochet as long as it trades above it.
TradingView IOST diagram
TradingView IOST diagram4. Hedera Hashgraph (HBAR)
- Current price: $ 0.11
- Market Cap: $ 889 million
- Market Capitalization Rank: # 72
In the first quarter of 2021, HBAR plans to improve its consensus service to be able to scale at least 10,000 transactions per second.
Similar to THETA, HBAR plans to release a demo application that will demonstrate the use of a Layer 2 network to output NFTs.
Price action has been lower since HBAR hit a high of $ 0.165 on Feb.19, but is currently trading in the $ 0.11 support area, a level that could potentially trigger a rebound.
TradingView HBAR Chart
5th avalanche (AVAX)
- Current price: $ 25.09
- Market Cap: $ 1.9 billion
- Market Capitalization Rank: # 45
Avalanche is an open source platform used to launch dApps in the highly scalable Avalanche ecosystem.
E-Money, an issuer of stablecoins, has announced that it will launch numerous stablecoins for Avalanche in the first quarter of 2021, including EUR and CHF. These stable coins are introduced through Avalanche’s contractual chain, while transactions are processed through the e-money wallet.
So far, the Avalanche ecosystem already supports TrueUSD (TUSD) and BiLira (TRYB).
Even so, AVAX has been down since hitting an all-time high of $ 60.20 on Feb.10, after currently falling 60%.
AVAX is trading right at the 0.618 Fib retracement level of the entire up move. So if it doesn’t bounce at current levels, it could decline to the next support area at $ 13.
TradingView AVAX chart
6. NEM (VIEW)
- Current price: $ 0.6
- Market Cap: $ 5.4 billion
- Market Capitalization Rank: # 16
NEM plans to release the Mainnet “Symbol” on March 15th. While similar, the mainnet will provide improvements in speed, ease of use, and security over the current NEM blockchain.
Additionally, XEM holders (NEM’s mother currency) will receive one XYM (Symbol’s mother currency) for every XEM they hold at the time of the March 12 snapshot.
In terms of price action, despite the sizeable surge in February, XEM didn’t come close to its all-time high and was actually rejected by the $ 0.382 Fib retracement at $ 0.8, creating a very long lower wick before dropping to current level Price of $ 0.6.
TradingView XEM diagram
7. Nearby (near)
- Current price: $ 4.06
- Market Cap: $ 1.2 billion
- Market Capitalization Rank: # 57
Near Protocol is a dApp platform that aims to improve the user experience for web applications. It has very low cost per transaction achieved through its sharding mechanism called Nightshade.
The NEAR team will be running a town hall on March 2nd where marketing and branding updates will be discussed.
In terms of price movement, NEAR has been down since hitting an all-time high of $ 5.58 on Feb 12. However, it did regain the USD 3.60 area after initially deviating below it (red circle).
NEAR Chart from TradingView
8. Crypto.com coin (CRO)
- Current price: $ 0.14
- Market Cap: $ 3.4 billion
- Market Capitalization Rank: # 22
CRO is the native coin of Crypto.com, a payment platform that allows users to purchase tokens among other services.
After burning 70 billion CROs, the next step in fully decentralizing the network is with the new mainnet launch. The start date for the mainnet has already been set for March 25th. Hundreds of validators are expected.
In terms of price movement, the CRO has been down since hitting a high of $ 0.27 on Feb.22, which is currently at $ 0.14, below the main resistance area of $ 0.17.
TradingView CRO Chart
9. Icon (ICX)
- Current price: $ 1.55
- Market Cap: $ 923 million
- Market Capitalization Rank: # 70
The ICON project tries to build one of the largest decentralized networks in the world. The team will hold an AMA on March 4th to discuss the strategy and roadmap for 2021.
Additionally, the ICON team has allocated 500,000 ICX to a fund that reviews smart contracts in approved projects within the ICON ecosystem.
Despite the sustained spike, ICX is nowhere near as high as it has ever been and has actually been rejected by the long-term resistance area of $ 2.
TradingView ICX chart
10. Enjin Coin (ENJ)
- Current price: $ 0.58
- Market Cap: $ 541 million
- Market Capitalization Rank: # 90
ENJ is a cryptocurrency backed by Ethereum (ETH) and designed for the gaming industry, especially for tokenizing in-game items.
The Enjin team will hold an AMA hosted by Binance on March 4th to discuss new NFT projects with the company’s chief growth officer.
Despite the ongoing decline, ENJ is still trading above its all-time high-resistance area at $ 0.47 after creating a very long bottom wick underneath, a sign of buying pressure.
ENJ Chart from TradingView
Click here to view BeInCrypto’s latest Bitcoin (BTC) analysis.
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