The cryptocurrency market is booming. And with that, the AltSeason continues to shine and grow. 2020 was probably the most successful year for Bitcoin, but the magnitude of popularity Altcoins gained in 2020 is extraordinary. And with that, their growth is on an upward trajectory in 2021 as well. There are currently more than 5,000 altcoins on most mainstream exchanges. And with this year proving to be another remarkable year for the world of crypto and blockchain technology, Altcoin is the talk of the town for the crypto world.
Altcoins on a Skywards Ride
The crypto industry is a roller coaster ride with so many altcoins in existence. It often makes a crypto trader wonder which altcoin will be the best alternative to Bitcoin. And if we look at the statistics of 2021 so far, the choice is even more difficult with the success altcoins are witnessing. It is just the first quarter of this year, and Ethereum has hit an ATH of $2036. Ethereum blockchain is the most preferred and accepted blockchain platform. Binance Coin (BNB) surpassed Tether in market capitalization for the first time in history and stood at the third position only behind Bitcoin and Ethereum.
Explaining Best Altcoins for March 2021
Ethereum and BNB are just the tip of the iceberg. Many other Altcoins witnessed applauding records and made headlines with the success they have so far in 2021. And with that, we can say that the entire concept of Altcoins has a bright future. It gives tough competition to Bitcoin. It is gaining more and more attention from not only the crypto community but also from people outside it. They want to read about it and become aware of digital assets. AltSeason is coming back with a vengeance, as people are now thinking of it as a good investment platform. And when Altcoins’ searches broke records on Google Trends, it was clear that this space is here to win more hearts and investments.
So if you are thinking of entering the crypto space, or put in some of your valuable money into Altcoins for some good returns, then this article will help you consider the top 5 Altcoins that should have your attention in March.
Top 5 Altcoins for March 2021
The prime purpose of Altcoin is to leverage technology to keep out the middlemen in financial transactions. It makes buying, selling, and trading cheaper and more effortless. Before we talk further about Altcoins note that every other cryptocurrency that came after the success of Bitcoin is referred to as Altcoins. The price charts for most of the mainstream Altcoins have been green for the last couple of months. Investments from both retail and institutional giants are responsible factors for the success. The DeFi boom also contributes to pushing the price of many Altcoins to an ATH. The Altcoin industry also flourished when investors looked at technological innovations and token giveaways.
Therefore, with bulls all over the crypto space, now is the right time to invest in the crypto space. Here are the top 5 Altcoins for March that will help you make the best return on investment.
How can it possibly happen that we talk about potential Altcoins and not mention Ethereum? It has a market cap of $209,433,411,278, and its price stands at $1,821.23 at the time of writing. It crossed the $2,000 mark in Feb 2021. Bullish crypto-investor looks up to Ethereum as a model for the next decade’s open Internet since it supports applications in its network. The success Ethereum had in 2020 was indeed noticeable. When business went DeFi and thousands of Dapps were launched, Ethereum gained the most out of it. This led to the price of Ethereum reaching the sky. The token snatched the attention of major institutional investors like Grayscale, which added $38 million worth of ETH in February.
Following Bitcoin’s stabilization, the Ethereum price began to rise with great power. ETH has broken a variety of significant barriers in the last couple of weeks. Even though the crypto recently crossed a new ATH, it looks like the bulls are not finished yet. The Google search volume for Ethereum recently hit an all-time high, which is a clear indication of growing interest in Ethereum. People are eagerly looking forward to what is holding in for Ethereum 2.0. Moreover, Ethereum has seen a roughly 80% increase in price over five days during the first week of the year from 2nd January 2021. And with a great plunge in from retail investors, this year has great news coming up for the token.
Therefore, do put this token on the top of your list when you think about Altcoin investments in March.
Binance Coin (BNB)
If the crypto bull run needs a fitting example, then one should talk about Binance Coin’s upward trajectory in February 2021. It had a market cap of $7 billion on the 1st of February, which went to a market cap of $45 billion on 20th February. It broke all records and became the 3rd largest cryptocurrency. Furthermore, it pushed down coins like Tether and Cardano. This groundbreaking achievement is a clear indication that the coin should have your attention this month. The price of the coin is $284.00 with a market cap of $43,887,390,437.
Changpeng Zhao, the CEO of Binance, mentioned that BNB apart from creating all-time high records in terms of fiat currencies has managed to compete remarkably against the largest cryptocurrency in the world, Bitcoin. He said, “From a humble 0.00001 BTC per BNB, we have grown 480x against BTC in the last 3 and half years.”
When talking about the major goal of Binance, he mentioned, “This has always been our goal, to grow a bit faster than BTC. Not overtaking it, but with so much effort we put in, we want to see it grow a bit faster. Otherwise, we should just buy BTC and not work.”
Binance Smart Chain (BSC) is a blockchain similar to Ethereum and an alternative marketplace for issuing and exchanging digital assets in a decentralized way. It is the host to top dApps like PancakeSwap, Venus, Autofarm, and BakerySwap. It allows DeFi applications, gambling apps, and games. And recently, its daily transaction count has outgrown Ethereum. On Feb 19, BSC-based decentralized exchange PancakeSwap overtook Ethereum’s exchange Uniswap by daily trading volume. This is a major reason why BNB is getting so much exposure. As the DeFi industry booms this month too, the bulls are likely to remain active.
This cryptocurrency also holds a lot of potential for growth this month. From a market cap of $11 billion on 31st January 2021, it went to have a market cap of $41 billion by February 27th. If the coin can grow so much within just one month, it has a lot in store for the future. It has become one of the best alternatives for Bitcoin. Cardano is currently trading at $1.18, with a market cap of $37,729,566,036.
Institutional investments are growing in Cardano and the crypto token has gained immense popularity this year. The billion-dollar cryptocurrency investment fund, FD7 Ventures, announced today that they have purchased $380M of Cardano (ADA) with funds that were a conversion from part of the company’s existing Bitcoin (BTC) holdings.
According to trading multi-brokerage company eToro, Cardano has seen a 157% increase in trading in the past month, hitting a high of $1.45 on the last weekend of February. And it won’t be wrong to say that is just the beginning of a long bull run. According to crypto experts, this year will be the year for Altcoins and Cardona will be one of the main choices. Simon Peters, eToro’s resident cryptocurrency expert, said:
“The market is evolving. Rather than focus solely on Bitcoin and Ethereum, where many investors can only own a fraction of one coin, we are seeing increasing demand for coins priced like bitcoin and Ethereum were a few years ago. Investors are looking for the next bitcoin, meaning they’re investing in cheaper tokens like Cardano’s ADA, IOTA, and Tron, all of which are priced around the $1 mark.”
He further added that this year could see this hunt for the next ‘bitcoin’ intensify, as the market widens and other coins gain their following. Currently, Cardano is exchanging places with Binance Coin to be the third-largest cryptocurrency now and then.
The charts are all green for this Altcoin, and it has remained that way for the last couple of months. The coin started with a price of $8.989812 on the 1st of January this year, and today, its price stands at $39.01 at the time of writing. A bullish nature like this will only win more faith in the investors. And the market cap of $35,827,807,864, is solid proof to support the above statement.
Polkadot is the sixth-largest cryptocurrency with a booming DeFi industry. Polkadot can be defined as a next-generation blockchain protocol connecting more than one specialized blockchains into one unified network. And therefore, no wonder that it is giving Ethereum tough competition. It holds the potential to be the next Ethereum. Keld van Schreven, managing director of the investment firm KR1, said:
“The market and investor appetite has been really strong for Polkadot’s DOT token. An initial valuation from a pre-network launch fundraising was priced around $3, he said. “So to consistently trade above $4 since then has been really encouraging.”
And with the investments over the cryptocurrency increasing every day, Polkadot’s price is expected to maintain an upward trajectory. Moreover, IOST has recently announced it is now at the final development procedure for building a cross-chain transfer bridge to the Polkadot ecosystem. It will promote its cross-chain interoperability. The crypto investment fund FD7 Ventures has recently opened a new office in Bangalore and said that their main projects will be focused on Polkadot and Cardano. Prakash Chand, the Global Managing Director at FD7 Ventures, said, “The India Institute of Technology (IIT) is churning out top talent who are already working on Polkadot and Cardano projects at the university level.” Therefore, with so many projects lined up, Polkadot will be one of the best investments for March 2021.
PancakeSwap is one of the crypto tokens whose price has been skyrocketing for the last few weeks and hence, have won the attention of investors. From the price of $6.46 on February 15th, 2021, it went to $17,45 on February 19th. PancakeSwap, a project run by an anonymous team, is based on the Binance Smart Chain (BSC). PancakeSwap traded over $400 million in daily volume over just one day in February and briefly became the world’s second-largest DEX service. This is also one of the main reasons why the price and market of the token skyrocketed over the past month. This makes it one of the potential Altcoins of March. The price of CAKE stands at $13.67 at the time of writing.
Experts and price predictors from the crypto space say PancakeSwap price aims for a recovery above $20 soon. The decentralized exchange currently holds over $4 billion in liquidity. As of today, there are over 176 markets on PancakeSwap. So many examples are enough to prove that this Altcoin has a lot in store. Therefore, think of the CAKE for a good return on investment.
Bottom Line: Top Altcoins
Even though the crypto industry is going through a correction at the moment, the bulls are soon going to get released. And with that, the AltSeason is expected to dominate the market yet again. Even though Bitcoin has the potential and is mostly considered as digital gold. So, people don’t trade it and reserve it for their future. Therefore, if you want to gain from trading in the crypto space, altcoins should be your choice. These top 5 Altcoins have the most ROI potential as of March. Making it the best time to invest in crypto. Moreover, considering the enormous amount of financial attention, many influential investors and analysts remain optimistic about Altcoins. Of course, this is certainly the beginning.