The euphoria that made cryptocurrency investors smile in January gave way to fear in February, causing the prices of major digital assets to fall. Expectations that the U.S. Federal Reserve would maintain its tight monetary policy longer than expected pressured cryptocurrencies and discouraged investors.
Bitcoin, the most popular cryptocurrency, is currently trading around $23,300, down from $25,100 in mid-February. Ether, the second largest cryptocurrency by market cap, remained relatively stable in February, hovering around $1,600.
Will The Ethereum Wind Hold?
The recent devaluation of Ethereum in Shanghai has increased market interest in liquid token distribution systems. During the month, Lido’s LDO token, a liquid staking platform, rose 33%. Competitor Rocket Pool’s RPL token rose 18 percent. Layer 1’s Conflux blockchain project was among the top 100 cryptocurrencies and saw an incredible 300% increase during the month.
According to Messari’s research, Web3 tokens topped the list with a 41.57% increase. Big Data Protocol, Avocado DAO, Stacks, The Graph, Fetch.ai, EPNS, disrict0x, Siacoin, Gelato, and Astar Network were among the top 10 cryptocurrencies. Big Data Protocol was the cryptocurrency with the highest increase of 1,059%.
Rising Web3 Projects
- Avocado DAO: 555.55
- Stack: %257.56
- The Graph: 84.93
- Fetch.ai: 81.12
- EPNS: 75.41
- Disrict0x: 50.34
- Siacoin: 49.04
- Gelato: 48.18
- Astar network: 45.95
Based on this data, we can expect a very productive March, especially when combining work on AI, Web3, and other favorite opportunities. Although Bitcoin is currently experiencing a decline, it is not difficult to predict a rapid increase from mid-March.
You may be interested in:
- Will The USDC Relieve The Pressure on Binance?
- Binance Launches a New Fan Token Project
- Bitcoin Report Announced by Human Rights Foundation
