AZCoin News will take a look at five cryptocurrencies that have interesting developments lined up for March, which could also have a positive effect on their price.
#1: Cardano (ADA)
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.
ADA/USD 4-hour chart | Source: TradingView
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)
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.
THETA/USD 4-hour chart | Source: TradingView
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)
IOST plans on focusing on the decentralized finance (DeFi) sector for the second half of 2021. To do that, it has secured numerous partnerships, one of them being Donnie Finance, which 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 before 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)
In the first quarter of 2021, HBAR plans to improve its consensus service, to be able to scale at least 10,000 transactions per second. Similar to THETA, HBAR plans to release a demo application that showcases the use of a layer-2 network, 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 that could potentially initiate a bounce.
#5: Avalanche (AVAX)
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).
Read more:
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