Bitcoin closed March with a monthly gain of 1%, while other cryptocurrencies such as Zilliqa and Waves rose up to 300% in the last month.
The market for cryptocurrencies, had a significant uptick in the month of March. The growing adoption of cryptoassets driven by the Russia-Ukraine war, the legalization of the crypto market in Dubai, the changing regulatory environment taking place in the United States, the creation and development of new projects, institutional investment and more commercial banks adding cryptocurrency services, has driven the growth in value in the main cryptoassets on the market in the last 30 days.
The most capitalized and important cryptocurrencies in the industry, which make up the Top 10, among them Bitcoin, Ethereum, Binance Coin, Solana, Ripple, Cardano, EARTH, Avalanche, Polkadot y Dogecoin, are in gains. However, although none of them reflects a negative balance in the last month, their returns range between 0,6% and 22,3%, with Bitcoin and Dogecoin showing the lowest monthly returns at the time of writing this article.
On the other hand, less capitalized cryptocurrencies such as Zilliqa and Waves are showing quite impressive monthly growth. Two of them even exceed a 100% rally.
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The 5 cryptocurrencies with the most gains in March
Zilliqa (ZIL)
The price of ZIL, the native cryptocurrency of the Zilliqa network, rose 314,5% in the past month, driven by the imminent arrival of its metaverse Metapolis, in partnership with the art platform Agora. At the beginning of March, ZIL was trading on the market at a value of 0,043 dollars per unit, according to data from the CoinGecko platform. However, this cryptocurrency closed the month with a unit value of 0,18 dollars, reaching an 11-month high on Wednesday, March 30.
Zilliqa developers will officially announce Metapolis on April 2, during a launch event in Miami, United States.
Source: CoinGecko
Waves (WAVES)
La Waves evolution towards a much more scalable and accessible network, through Waves 2.0, has increased the price of its cryptocurrency by 217,5% in the last month. WAVES closed March with a value of $56,5 per unit, being the second best-performing cryptocurrency in the last 30 days.
The creators of this blockchain also announced a partnership with the cross-chain bridge Allbridge, to make Waves a much more interoperable and affordable network. They also announced the creation of a $150 million fund to boost the growth of its ecosystem in the United States. All of this has contributed to the revaluation of WAVES in the short term.
Source: CoinGecko
Ethereum Classic (ETC)
Ethereum Classic (ETC), the cryptocurrency born after The DAO hack in 2016, has been on the rise since mid-March. Over the past month, ETC has gained 48,1%, as data from CoinGecko shows at the time of writing.
The monthly profit of ETC It is driven, mainly, by the early arrival of its event Block reward reduction, which is expected to occur in the middle of this month of April and due to the possible Block miner adoptionAs some analysts point out, Ethereum miners may migrate to ETC when GPU mining on ETH becomes unprofitable with the arrival of Ethereum 2.0.
Source: CoinGecko
AAVE (AAVE)
Aave, one of the most popular and important DeFi protocols in the ecosystem, registers a monthly growth of more than 45%. Currently, its native token AAVE is trading at a value of $215,3, according to data from CoinGecko. Aave V3 Released, which introduces a number of features and improvements for users of this decentralized lending protocol, is driving the price of AAVE upward.
Source: CoinGecko
VeChain (VET)
With a monthly performance of 44,3%, VeChain (VET) is the fifth-highest gaining cryptocurrency in the past month. VeChain is an enterprise-grade smart contract blockchain, dedicated to solving real-world problems, such as simplifying supply chain management processes and more.
Its native cryptocurrency, VET, ranks among the top 40 most capitalized in the blockchain industry, with a total value of over $5.000 billion currently. In the last month, the developers of this network announced their First hackathon for developers and also a alliance with the Alchemy Pay platform to boost its adoption and integration into the real world, which has driven up the price of VET in the market.
Source: CoinGecko
Other cryptocurrencies with significant gains
In addition to those mentioned, other cryptocurrencies such as ApeCoinChiliz, Loopring and Monero also saw significant gains in March, growing between 18% and 36%.
In the case of ApeCoin, the ERC-20 token launched by ApeCoin DAO as the official utility and governance token of the Bored Ape ecosystem, has become a phenomenon in the crypto industry, despite its recent launch into the market. On the other hand, Monero, a privacy-focused cryptocurrency, has seen its value grow with the tightening of sanctions imposed by governments against Russia.
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