The first quarter of the year just concluded with green candles for almost all cryptocurrencies. With a price appreciation for all the months of the quarter, no month ended with a net loss for all the major cryptocurrencies.
The month of march which historically in crypto-trading, is always associated with steep drop in prices, took a different turn this year as prices continued to hold steady and even pump, throughout the month.
BTC started the year at $28,000 and closed the quarter at $58,000, generating an ROI of over 200%, but this is no feat compared to altcoins such as Uniswap, which started the year at $4 and closed the quarter at $29(ROI of 700%) or Avax which started the year at $2 and closed the quarter at $30(ROI of 1500%)
This bullish run is expected to continue in the second quarter of 2021.
The question on all our minds: Which coins do we pick?
Here are 3 promising cryptocurrencies to add to your portfolio.
Ethereum Ether, is definitely a coin to have in the bag, the end of Q1 saw ethereum reach a new all time high of $2,100 from a starting price of $730 at the beginning of the year, an impressive run on its own, this isn’t the peak of the Ethereum bull run, as ethereum is anticipated to upgrade from a proof of work blockchain, to a proof of stake blockchain. This will also come with additional features such as, Ether burning and reduced gas fees.
This upgrade is a game changer, that is expected to solve many issues the ethereum network is currently facing, such as scalability and high gas fees. This will invariably drive the price of Ethereum higher.
ADA is the native token of the cardano network, an open source blockchain that operates on the proof of stake platform
ADA started the year trading at $0.17 and closed at a price of $1.2, generating an interest of over 800%. It not only saw an increase in its market price. Its market capitalization clocked $40 billion leaping past stable coin USDT and Binance BNB to rank 3rd amongst cryptocurrencies.
The Cardano network is a developing network with lots of projects aimed at improving on the flaws in the present traditional blockchain systems, such as scalability and interoperability. One of such project which is expected to drive the price of ADA higher is the MARY UPGRADE, which was just completed in the month of March.
This upgrade 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.
Currently ADA trades for $1.20 on cryptocurrency-exchange Bityard, but technical analysis (Fibonacci extension), shows: $1.75, $2 and $2.5 as possible next price targets.
Both fundamental and technical analysis indicates that ADA will be experiencing a very strong bullish run in the next quarter of 2021(Q2) and for the rest of the year 2021.
Chainlink a decentralized oracle network with a goal of creating smart contracts for the outside world bridging the gap between blockchains and applications that exist in the real world
Started the year at a price value of $11 and closed Q1 at $32
Presently link trades for $34 this price comes after several days of struggling with the $32 psychological barrier.
The barrier was crossed after it was announced that digital currency asset manager Grayscale acquired 115,750 link tokens. Data also shows the number of large holders and whales owning above 100,000 link tokens increased exponentially during the month of March.
Link is poised for a significant breakthrough in price with some analysts projecting it to reach $100 in the second quarter of the year 2021.
How to acquire Ethereum, ADA and LINK
One of the easiest and safest way to acquire ETH, ADA and LINK is through the Spot trading option available on World leading Cryptocurrency exchange Bityard. ETH, ADA, LINK and other Cryptocurrencies can be traded (bought and sold), instantly and also be exchanged with other Cryptocurrencies.
With the best prices on the market, low transaction fees, an instantaneous trading option plus contract and copy trading (developed for beginners) options. Bityard is our best pick for a seamless trading experience.
To visit Bityard and trade Ethereum, ADA and CHAINLINK, click on this LINK.