While the cryptocurrency market is in great shape, certain assets have good growth prospects in March.
Since the arrival of spot bitcoin ETFs in the United States in mid-January, the cryptocurrency market has been in the green. Its total capitalization is close to 2000 billion dollars, bitcoin and ether having recently respectively exceeded two symbolic thresholds: 50,000 dollars and 3000 dollars. In this context, several experts are observing the growth prospects of cryptocurrencies over the coming weeks. Ether, Solana and XRP, which are among the 10 most capitalized cryptos on the market, could well take off in March.
For the first time since April 2022, ether exceeded the symbolic threshold of $3,000 this week. For the past month, the cryptocurrency has been soaring, with a 32% increase. This is the asset that has performed the best on the market since the arrival of spot bitcoin ETFs. Investors are interested in it for two reasons: on the one hand, the belief of validation by the American stock market watchdog (the SEC) of the ether spot ETF by the month of May .
In addition, an important update called “Dencun” will take place on the Ethereum blockchain in March. After ‘The Merge’ September 2022 Update, Dencun Addresses “Critical Concerns Related to Scalability and High Fees” on the Ethereum Blockchain, Says Tristan Dickinson, head of marketing and communications at the dYdX Foundation in American media Cryptopotato.
Today, Solana is the fourth most capitalized cryptocurrency on the market, with $45 billion in cumulative token value. Over one month, solana also showed good growth, of 19%. “As we get closer to the bitcoin halving in April, explosive altcoins (these cryptocurrencies other than bitcoin, editor’s note) like solana could continue their upward trend and certainly deserve to be closely monitored. “nearly”, we can read.
Launched in 2020, solana gained momentum during 2023, with 750% growth over one year, to the point of overtaking Ripple’s XRP cryptocurrency. Solana has made an impressive catch-up in one year, after having collapsed by 93% in 2022, in the wake of the fall of cryptocurrency giant FTX in mid-November. Likewise, its blockchain had experienced 6 outages during the year 2022, scaring away investors.
“This may come as a surprise, given XRP’s relatively poor performance over the past few months. However, Ripple’s native cryptocurrency rose nearly 10% in February and is among the more efficient”, points out the American media. So why can this crypto rise in March? On the one hand, Ripple is expected to soon launch payment services in the United States, which can lend credence to its native crypto. Furthermore, the price of XRP could vary up or down, with the start of the highly anticipated trial between the American stock market watchdog (the SEC) and Ripple on April 23.
As a reminder, since December 2020, a legal case has opposed the crypto company Ripple and the American stock market watchdog. The SEC had sued Ripple, accusing it of having led a $1.3 billion unregistered securities offering with its native cryptocurrency, XRP. The SEC considers that Ripple sold XRP to investors without having registered this cryptocurrency as a security or financial security, falling under its control. But in July 2023, American justice ruled: cryptocurrency XRP is not a “security”, ruled American justice. Concretely, this means that cryptocurrency does not fall under the control of the American stock market watchdog, the SEC (Securities and Exchange Commission).
Source: https://www.bfmtv.com/crypto/ces-trois-cryptomonnaies-qui-peuvent-decoller-en-mars_AV-202402230318.html
