Top 5 Cryptocurrencies in March 2023
March 2023 was an exciting month for the crypto market, with several cryptocurrencies performing well. While many cryptocurrencies made headlines, five standout performers made good gains. Conflux Network (CFX), Mask Network (MASK), XDC Network (XDC), XRP (XRP), and Stellar (XLM) experienced significant growth.
Amongst these assets, XRP (XRP) stole the show with its impressive performance amidst the ongoing SEC lawsuit. So, how much increased these cryptocurrencies, and what made XRP stand out? Let’s dive in and find out.
Conflux Network (CFX)
Market Capitalization: $1,018,962,258
Conflux Network (CFX) continued positively from its February increase, nearly doubling its price from $0.23 to $0.46 by March 19. Although it is over 50% below its All-Time High (ATH) of $0.9721, CFX’s impressive performance in March indicates that the market is bullish on this emerging cryptocurrency.
Mask Network (MASK)
Market Capitalization: $442,518,192
Mask Network (MASK), the bridge between Web2 and Web3, also had a remarkable month, skyrocketing by 64.55%. At the start of March, the ERC20 token was trading at $4.14, reaching an incredible $6.77 by March 29. This impressive upward trajectory highlights the growing popularity of decentralized finance (DeFi) and the potential of MASK to become a significant player in this space.
XDC Network (XDC)
Market Capitalization: $555,066,327
XDC Network (XDC) is another cryptocurrency with a strong showing in March. Starting the month at $0.28, XDC rose by over 60%, reaching a high of $0.46 on March 24. This bullish trend indicates that investors are optimistic about XDC‘s potential to provide robust solutions for real-world problems, particularly in the logistics and supply chain industries, where XDC has gained traction.
XRP (XRP)
Market Capitalization: $25,945,820,580
XRP (XRP) had an eventful month in March, with its price shooting up from $0.38 to $0.57 by the end of the month, a 50% increase. Ripple’s chances of winning the court case against the United States Securities and Exchange Commission improved on March 21 when the presiding judge excluded an expert’s opinion. The market’s expectation of Ripple winning the case against the Securities and Exchange Commission (SEC) pushed XRP’s price to new yearly highs.
Despite being currently valued at $0.51, XRP remains over 80% below its ATH of $3.84, indicating that there is still significant room for growth for this cryptocurrency.
Stellar (XLM)
Market Capitalization: $2,825,735,232
Lastly, Stellar (XLM) rounded up the top gainers’ list for March, increasing its price by 26%. Starting the month at $0.087, XLM hit the $0.1 mark on March 29 and ended at $0.11. XLM benefited primarily due to its strong positive correlation with XRP in terms of adoption by financial institutions.
Conclusion
The top crypto gainers for March 2023 highlight the exciting times in the cryptocurrency market, with several cryptocurrencies experiencing significant growth. However, one coin that has caught our attention is XRP, which has had a fascinating month. Ripple’s chances of winning its lawsuit against the SEC improved significantly on March 21, further fueling XRP’s rise in value.
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