March Was A Bright Spot For Crypto Market: Let’s Look At The Leading Best And Worst Performers
Let’s Take A Look At Some Of The Best/Worst Crypto Performers From March
A quick look at the crypto market charts from March show us that the month has been positive for the alt-asset industry as a whole. To be a bit more specific, we can see that over the course of the past 31 days, the overall capitalization of this entire sector rose to an extremely respectable valuation of $146.39 billion.
Additionally, it should also be pointed out that while a number of assets gained a lot of value all through last month, there were also projects that lost a lot of market traction. Thus, in this article, we will take a look at the best and worst performing alt-currencies from March. So, without any further ado, let's get straight into the heart of the matter.
The Best Performer: TEZOS (XTZ)
XTZ — the native token associated with the Tezos project — saw a whopping increase of 152% in its value over the month of March. Not only that, during this time period, the project was able to garner almost $472 million worth of investments.
In terms of the currency’s valuation against Bitcoin, we can see that XTZ surged by around 120%.
At this point in the article, it should also be pointed out that a lot of the monetary inflow experienced by XTZ can be attributed to the activity witnessed by US-based crypto exchange ‘Kraken’ over the past few weeks.
Lastly, market analysts have also commented that a large chunk of the bullish trader sentiment in regards to XTZ comes from Coinbase’s recent announcement that it was going to be launching a “block staking program on the Tezos blockchain in the near future”.
Other Key Points Worth Noting
- The aforementioned staking service claims to generate returns of up to 6.6% for its users.
- During the month of March, Ravencoin’s RVN token saw an increase of more than 240% in its value — despite showcasing moderate fundamentals.
The Worst Of The Lot: Bitcoin SV (BSV)
While a lot of other altcoins might have financially performed way worse than Bitcoin SV over the month gone by, it should be noted that their market capitalizations and daily exchange volumes were significantly lower than that of Bitcoin SV’s.
When taking a closer look at the matter, we can see that BSV lost around 1.86% last month — however, it losses in comparison to Bitcoin stood close to around the 9% mark. In this regard, a lot of experts believe that the project’s constant trolling of other altcoins, as well as Dr. Craig Wright’s recurring Twitter antics, could have caused the investor community to stay away from BSV completely.
In rounding off this article, we would like to point out that since the start of 2019, Dr. Wright has threatened to file a number of lawsuits against individuals who failed to recognize him as the creator of Bitcoin (aka Satoshi Nakamoto). Not only that, but he has also mentioned in the past he possesses the power to “destroy” privacy coins such as Monero and ZCash.
It now remains to be seen what the future has in store for both XTZ and BSV.