March month, which historically in cryptocurrency trading has always been associated with a sharp drop in prices, has taken a different turn this year as prices continued to remain stable and even pump up during the month.
The growth of the crypto market continues
The first quarter of the year ended with green candles for almost all cryptocurrencies. With prices rising in all months of the quarter, not a single month ended with a net loss for all major cryptocurrencies.
BTC started the year at $28,000, and closed the quarter at $58K, delivering a return on investment of more than 200%. But that’s no feat compared to altcoins like Uniswap, which started the year at $4 and closed the quarter at $29 (a return on investment of 700%). Or Avax, which started the year with $2, and closed the quarter with $30 (a return on investment of 1500%).
This bullish growth is expected to continue in the second quarter of 2021.
Based on this, one should ask the question: which coins do we choose to diversify the portfolio? Here are 3 promising cryptocurrencies to add to your portfolio.
Ether is definitely a coin worth having in stock. At the end of the first quarter, Ethereum reached a new all-time high of $2,100, compared to the starting price of $730 at the beginning of the year. Impressive run in itself, isn’t it? This is the peak of Ethereum’s popularity, as the project is expected to move from a proof-of-work blockchain to a proof-of-stake blockchain. It will also have additional features, such as burning ” fir ” and reducing gas charges, not to mention rampant staking.
ADA is the proprietary token of the Cardano network, an open-source blockchain powered by a proof-of-stake (PoS) platform.
ADA started the year trading at $0.17, and closed at $1.2, yielding more than 800%. This not only led to an increase in the market price. Its market capitalization was $40 billion, surpassing the stable coin USDT and Binance BNB, taking the 3rd place among cryptocurrencies.
The Cardano network is an evolving network with many projects aimed at correcting the shortcomings of existing traditional blockchain systems, such as scalability and interoperability. One such project that is expected to raise the price of the ADA is the MARY UPGRADE.
This update aims to transform Cardano into a multi-asset network, users will now be able to develop their own tokens and NFTs and use them for transactions on the Cardano network.
Both fundamental and technical analysis indicate that ADA will experience very strong growth in the next quarter of 2021 (second quarter) and the remainder of 2021.
Chainlink is a decentralized network of oracles with the goal of creating smart contracts for the outside world, closing the gap between blockchains and applications that exist in the real world.
The year started at $11, and the first quarter closed at $32.
Currently, the bidding is $33. This price came after several days of struggling with the psychological barrier of $32. The barrier was broken after it was announced that digital currency asset manager Grayscale had purchased 115,750 LINK tokens. The data also shows that the number of large holders and whales holding more than 100,000 LINK tokens increased exponentially during March.
Link is gearing up for a significant price breakthrough, with some analysts predicting it will hit $100 in the second quarter of 2021.