• The global crypto market cap regained the $1.1 trillion mark, driven mainly by Bitcoin and Ethereum’s surge after the Silicon Valley Bank collapse.
• Altcoins like Shiba Inu and Polygon are also on the rise as they launch new updates and layer-2 solutions.
• Here is a look at some of the top cryptocurrencies to watch out for in March 2023.
Crypto Market Reaches $1.1 Trillion
The global crypto market cap has recently regained its $1.1 trillion mark, driven mainly by Bitcoin and Ethereum’s surge after the Silicon Valley Bank collapse. This has increased investor attention towards digital assets as an alternative investment option that could be more resilient to traditional markets’ volatility.
Altcoins With Notable Updates
Apart from Bitcoin and Ethereum, other significant altcoins have been buzzing with new updates and launches. Shiba Inu (SHIB), for instance, has launched its layer-2 blockchain “Shibarium” which is being referred to as a potential “Dogecoin Killer”. Similarly, Polygon (MATC) is getting ready to premiere its layer-2 scaling solution, “zkEVM” zero-knowledge execution virtual machine which will go live on March 27th this year.
Top Cryptocurrencies To Keep An Eye On
Here is a look at some of the top cryptocurrencies that could explode in popularity in March 2023:
- Bitcoin (BTC): The king of cryptocurrency currently stands with 44% market share and a 9-month high price range of $26K reached on March 14.
- Shiba Inu (SHIB): SHIB was created as a joke but now turns to new developments with large use cases.
- Polygon (MATC): MATC is launching its zkEVM mainnet this month.
Bitcoin Price Surge
Since the start of 2023, BTC price has surged more than 49% while ETH prices have risen 13% in one week alone following Silicon Valley Bank’s failure which caused stock markets to become volatile. At press time, BTC traded at $24,731 with a 24-hour trading volume of $42 billion and a market cap of $477 billion; however it did take a deep dive into the 18K mark early this month before recovering back up again above 24K levels now.