Another turbulent month in the cryptocurrency space has gone by. During this month, Tron, Binance Coin emerged as the winner. On the other hand, Neo, Ethereum, Cardano emerged as the losers.
The current month has been pretty volatile for cryptocurrencies. All in all, the market capital has fallen by around 40% in the single month. Currently, it stands at around $ 270 billion. In February, comparatively, the market cap fell by only 9%. However, this month being a very bad one for the cryptocurrencies as the cumulative market cap has fallen by around 40%.
At the start of March, Bitcoin was trading around $ 8600. Currently, it is trading around $ 7000. It has struggled to get support at the higher levels. The momentum is also missing at the higher levels. This is the reason why it has been consistently falling as well. In the last one week itself, most of the cryptocurrencies are down by approximately 20%.
Winners in cryptocurrency space in March:
Tron is one of the best performing cryptocurrencies. Even though it has not gained quite a lot but it has not lost a significant amount as compared to some of the other cryptocurrencies. All in all, it has just fallen by 1% to 2%. However, the other cryptocurrencies are falling easily by about 20%.
Binance Coin has gained approximately 2% once again. However, considering the fact that most of the other cryptocurrencies are down by 20%, this is a relative better performance.
Losers in cryptocurrency space in March:
Ethereum is one of the biggest losers in cryptocurrency space in the month of March. It was trading around $ 860. Currently, it is trading below $ 400. This marks a decrease of more than 50%.
On the other hand, Ripple was trading around $ .95 at the start of March. Currently, it is trading just below $ .50. Thus, it has also lost approximately 45% of its value in the current month.
Similarly, Bitcoin Cash has lost around 42% and on the other hand, Litecoin has lost around 35%. The lists of the cryptocurrencies which have lost a significant amount of money are plenty. As a result, many of the investors are staying away from the cryptocurrencies.
It remains to be seen whether the month of April is somewhat better for the cryptocurrencies or whether the cryptocurrencies continue to fall once again. For now, however, very few experts and traders are actually enthusiastic about the cryptocurrency space owing to the persistent fall.