This article will take a look at ten cryptocurrencies which have interesting developments lined up 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 Cap Rank: #3
On March 1, the ”Mary” hard fork for ADA is expected to be launched, making it one of the most important events for this month. The upgrade is expected to bring Cardano closer to realizing its potential in regards to NFTs, DeFi and stablecoin use, by providing users with the opportunity to issue and distribute tokens on the Cardano blockchain.
Mary is only the second out of three hard forks that pave the way for the Goguen era, which would fully integrate smart contracts and add the ability to build decentralized applications (dApps) on the Cardano platform.
The creator, Charles Hoskinson, stated that everything is going to schedule and the hard fork is expected to be implemented on March 1 as announced. He also stated that users will be required to upgrade their nodes by downloading the latest version of the Daedalus wallet, Flight.
As for its price movement, ADA finally reached a new all-time high price of $1.54 on Feb. 27, but has decreased slightly since. Nevertheless, ADA is still trading above the previous all-time high resistance area at $1, and the trend can be considered bullish as long as it is doing so.
2. Theta Network (THETA)
- Current Price: $3.2
- Market Cap: $3 billion
- Market Cap Rank: #27
THETA also plans to join the decentralized exchange (DEX) trend by releasing ThetaSwap v1, the first DEX built on the Theta blockchain. ThetaSwap uses Theta wallet, which can easily be downloaded for Google Chrome, and is secured by a 12-word mnemonic phrase.
It also plans to launch a non-fungible token (NFT) marketplace later in the first quarter of this year, alongside the second THETA hackathon.
As for its price movement, THETA reached a new all-time high of $4.01, alongside its parabolic ascending support line on Feb. 18, but since then has shown considerable weakness in the form of bearish divergence in the RSI.
3. IOST (IOST)
- Current Price: $0.037
- Market Cap: $695 million.
- Market Cap Rank: #84
IOST plans on focusing in the decentralized finance (DeFi) sector for the second half of 2021. In order to do that, it has secured numerous partnerships, one of them being Donnie Finance, who plans on launching seven new products this year.
In March, an airdrop of their native token DON is planned to be made to all IOST holders, in which 10% of the entire supply of DON will be distributed through the airdrop.
As for its price movement, after being rejected briefly prior to reaching an all-time high price, IOST has returned to the $0.037 support area, and is expected to bounce as long as it is trading above it.
4. Hedera Hashgraph (HBAR)
- Current Price: $0.11
- Market Cap: $889 million
- Market Cap Rank: #72
In the first quarter of 2021, HBAR plans to improve its consensus service, in order to be able to scale at least 10,000 transactions per second.
Similarly to THETA, HBAR plans to release a demo application which showcases the use of a layer-2 network, in order to issue NFTs.
As for its price movement, HBAR has been decreasing since reaching a high of $0.165 on Feb. 19, but is currently trading inside the $0.11 support area, a level which could potentially initiate a bounce.
5. Avalanche (AVAX)
- Current Price: $25.09
- Market Cap: $1.9 billion
- Market Cap Rank: #45
Avalanche is an open-source platform that is used for the launch of dApps in the Avalanche ecosystem, which is highly scalable.
E-money, an issuer of stablecoins, has announced that in Q1 of 2021 it will launch numerous stablecoins on Avalanche, including but not limited to the EUR and CHF. These stablecoins will be launched through Avalanche’s Contract chain, while transactions will be conducted through the E-money wallet.
So far, the Avalanche ecosystem already backs TrueUSD (TUSD) and BiLira (TRYB).
Nevertheless, AVAX has been decreasing since reaching an all-time high price of $60.20 on Feb. 10, having currently fallen by 60%.
AVAX is trading right at the 0.618 Fib retracement level of the entire upward move, so unless it bounces at the current level, it could decrease all the way to the next support area at $13.
6. NEM (XEM)
- Current Price: $0.6
- Market Cap: $5.4 billion
- Market Cap Rank: #16
NEM plans to release the ”Symbol” mainnet on March 15. Even though it is similar, the mainnet will provide upgrades in the speed, usability and security over the current NEM blockchain.
Furthermore, XEM holders (the native currency of NEM) will receive one XYM (the native currency of Symbol) for each XEM that they hold at the time of the snapshot on March 12.
As for its price movement, despite the considerable increase in February, XEM is not close to reaching its all-time high price, and has in fact been rejected by the 0.382 Fib retracement at $0.8, creating a very long lower wick before decreasing to the current price of $0.6.
7. Near (NEAR)
- Current Price: $4.06
- Market Cap: $1.2 billion
- Market Cap Rank: #57
Near Protocol is a dApp platform whose aim is to increase usability for web applications. It has very low costs per transaction, achieved through its sharding mechanism called Nightshade.
The NEAR team will be conducting a town hall on March 2, in which marketing and brand updates will be discussed.
As for its price movement, NEAR has been decreasing since an all-time high of $5.58 was reached on Feb. 12. However, it has reclaimed the $3.60 area after initially deviating below it (red circle).
8. Crypto.com Coin (CRO)
- Current Price: $0.14
- Market Cap: $3.4 billion
- Market Cap Rank: #22
CRO is the native coin of Crypto.com, a payments platform that allows users to purchase tokens alongside other services.
After burning 70 Billion CRO, the next step towards the full decentralization of the network is the new mainnet launch. The mainnet launch date has already been set for March 25, with hundreds of validators expected to participate.
As for its price movement, CRO has been decreasing since a high of $0.27 was reached on Feb. 22, currently trading at $0.14, below the main resistance area of $0.17.
9. Icon (ICX)
- Current Price: $1.55
- Market Cap: $923 million
- Market Cap Rank: #70
The ICON project is attempting to build one of the biggest decentralized networks in the entire world. The team will hold an AMA on March 4, in which the strategy and roadmap for the year 2021 will be discussed.
In addition, the ICON team has committed 500,000 ICX for a fund which audits smart contracts in approved projects inside the ICON ecosystem.
Despite the ongoing increase, ICX is nowhere close to its all-time high price and has in fact been rejected by the long-term $2 resistance area.
10. Enjin Coin (ENJ)
- Current Price: $0.58
- Market Cap: $541 million
- Market Cap Rank: #90
ENJ is a cryptocurrency backed by Ethereum (ETH), designed form the gaming industry, more specifically the tokenization of in-game items.
The Enjin team will hold an AMA hosted by Binance on March 4, in which it aims to explain new NFT projects by the firms chief growth officer.
Despite the ongoing drop, ENJ is still trading above the previous all-time high resistance area at $0.47, having created a very long lower wick below it, a sign of buying pressure.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
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