Top performing cryptocurrencies in March were Tron and Binance Coin. The biggest losers were Neo, Ethereum and Cardano.
Another month has passed in crypto land and it is time to review the winners and losers over the past 31 days. March has been a pretty tumultuous month for cryptocurrency markets with a new low for the year on the 30th and markets continuing to slide at the end of the month. Overall crypto market capitalization has fallen 40% over the month from around $450 billion at the beginning of March to $270 billion at the end of it. Compared to February where markets fell by 9% over the month, March as been far worse and very few cryptocurrencies have ended the month higher than they began it.
Bitcoin has taken a beating in March falling 34% from around $10,600 at the beginning of the month to $7,000 at the end. It has struggled to hold the psychological support level of $8,000 and has dipped below it several times, the lowest being on March 30 when it dropped to $6,740. Its market dominance however has increased 12.5% throughout the month from just under 40% on March 1st to around 45% at the end of the month. This means that it has been an even worse month for altcoins.
March Crypto Winners
Tron is the only coin in the top 15 that has not lost ground in March. It hasn’t made much but that is a positive in a month that has been largely red across crypto markets. Starting out the month at around $0.042 TRX has crept up a percent or two to end it just over $0.043. In Bitcoin levels Tron has performed well moving from around 415 satoshis to end the month over 43% higher at around 600 sats.
Binance Coin has also made marginal moves upwards while all those around it have crashed. BNB started March trading at around $10.50 and ended closer to $10.70 representing a tiny increase. Against BTC is has done even better moving from 101500 satoshis to 151000 at month end, a rise of 48%. Positive company news about a Maltese move as it shrugs off the attempted hack has boosted Binance Coin.
March Crypto Losers
Ethereum has been absolutely crushed in March, starting the month trading around $860 and losing over 50% by the end of it. ETH has not been trading this low since late November 2017 when it made big moves from around $450 up to and over $650. ETH ends the month at its lowest point this year at $410.
Ripple has also taken a heavy beating in March with XRP falling 45% from $0.95 to $0.52 over the past 31 days. There has been a lot of positive news about Ripple’s new partnerships and expansions into new markets however this has failed to bolster XRP which has slid with the rest of the cryptocurrencies in March. Losses against BTC have been lower at 14% falling from around 8700 satoshis to around 7450.
Bitcoin Cash has been bashed as the top four have all lost ground. On March 1st BCH was trading at around $1,250, since then it has lost 42% to around $725 where it currently trades. With the Lightning Network gaining traction and BTC transaction fees falling Bitcoin Cash loses its advantage over big brother.
Litecoin has also taken a huge hit, last month it was one of the best performing altcoins, this month one of the worse. LTC has fallen from around $205 to $124 in March representing a drop of almost 40%. The LitePay fiasco has been the primary cause of this coin to collapse.
EOS, while moving up a few spots in the market cap charts, has also fallen. Trading at the beginning of the month around $8.40 it ended closer to $6 marking a drop of roughly 28%. In terms of BTC it has fared much better ending the month marginally higher at around 87000 satoshis.
Cardano has been one of the top ten’s biggest losers as it was last month with an over 50% drop from $0.30 to $0.15 at the end of the month. ADA has also lost a lot of ground against BTC falling 2800 satoshis to around 2150. Stellar Lumens has joined it with a drop of 40% from $0.34 to $0.20. No real news or developments has come out of the XLM or ADA camps and the smaller altcoins seem to take bigger hits. In satoshi levels Stellar has fallen from 3150 to 2760, around 12%.
Neo had a reasonable February but a terrible March, falling massively from $130 to $52, almost 60%. There has been no negative news impacting Neo, just a huge selloff that seems to have diminished all gains made the previous month. The Chinese smart economy altcoin has lost around 40% against Bitcoin ending the month just over 741000 satoshis.
The last altcoin in the top ten has also fallen heavily in March. Iota has lost around 41% sliding from $1.95 on March 1st to $1.14 at the end of the month. A 12% slide can be measured against Bitcoin as it fell from around 18500 sats to 16300 throughout the month.
Other altcoins getting a pasting in March include Monero, Dash, Nem, Ethereum Classic, VeChain, Qtum, Icon, OmiseGO, Lisk, Bitcoin Gold, Nano, Zcash and Verge.
Only Tron and Binance Coin in the top 30 cryptocurrencies have shown slight gains, all others have fallen with Ethereum, Cardano and Neo taking the biggest hits. We can only hope that markets are near the bottom and April will be a brighter month in crypto land.
All figures from Coinmarketcap.com