Here is our quick update on March 2021 performance:
- OneBit average investor return on spot trading is 26.0% (Feb 56.2%).
March profit on popular coins:
- 23.7% (Feb 33.9%) average return for Bitcoin (BTC)
- 27.4% (Feb 4.9%) average return for Ethereum (ETH)
- 14.6% (Feb 24.7%) average return for Litecoin (LTC)
- 11.7% (Feb 6.5%) average return for Ripple (XRP)
- 15.4% (Feb 11.6%) average return for Bitcoin Cash (BCH)
The bitcoin price hit a new all-time-high crossing the USD60,000 price level in the middle of March, mainly due to institutions such as MicroStrategy and Meitu still being willing to buy bitcoin at historically high price levels, which fueling the optimism and strong hands of long-term crypto holders. Then a volatile week followed as the Bitcoin price ranged between $60,401.61 and $53,376.36.
At the month end, Bitcoin’s proportion of the total cryptocurrency market has hit its lowest level as next-generation blockchains gain ground on their predecessor. Below are a few altcoins that performed remarkably well through OneBit trading in March:
- Ethereum (ETH) had an unexpected move to claim an all-time high as it breached the $2,000 mark. This time last year, Ether was worth less than $150. Its price started to rally just as Visa started using its network to settle cryptocurrency transactions
- Tron (TRX) was the top gainer in the top 100, up 82.7% for the last 30 months. Tether treasury reveals that a total of $19.8 Billion in USDT has been issued on the Tron blockchain. Comparatively, the amount of USDT issued on the Ethereum blockchain currently stands at $22.4 Billion.
- WINk (WIN), a Tron-based (TRX) gambling platform that allows users to play, socialize and stake assets across multiple blockchain ecosystems through the native WIN token. WIN which has rallied 700% since Jan to a high of $0.000477 in March, thanks to a record $344 million in trading volume. Due to high gas costs, investors are looking for non-Ethereum-based networks that offer yield farming and other DeFi opportunities.
- StormX (STMX) has quietly rallied more than 2,800% since February as the project’s crypto rewards program and plans to launch a debit card bear fruit for early investors. The StormX partnership network already contains more than 700 stores and websites from around the world, with more being added weekly as cryptocurrency adoption grows.
- Enjin (ENJ) price has rallied 800% high in March. Nonfungible tokens (NFTs) have taken the world by storm as stories of record-breaking digital art sales now regularly appear on mainstream news outlets and popular culture. Enjin started to pick up in early March after the project revealed JumpNet, which is a private version of the Ethereum blockchain that yields cheaper fees for NFT transactions.
We hope you enjoy our fundamental analysis above to have a brief understanding of the crypto world. At OneBit, we strive through technical analysis, but we also love good stories behind the charts that move the world.
Our trading philosophy:
Catch the high tide and cushion the downside.
Just as your assets are trading via OneBit, so are ours. In OneBit’s asset pool, every client enjoys the same trading strategies as the owners of the company. We share the same risks and opportunities and will try our best to share with you the joy of crypto trading as we feel it ourselves.
OneBit of trading, one giant leap in life…