We haven’t even completed the first quarter of 2021 yet and a number of crypto projects are already making significant headway in upgrading their networks. The upgrades could strengthen the projects’ positions in the market, and are sure to get the community talking about these projects.
Both the technical and fundamental analysis of the crypto markets in 2021 are pointing to the fact that we are in a bull run. This is evidenced by the exponential growth in the total market capitalization of the crypto market, the total value locked in DeFi platforms, institutional interest in crypto assets, and other key metrics. Evidently, most altcoins are poised to grow with this bull wave. However, there are also some altcoins with potential to exceed their peers.
The Bityard trading platform currently lists 32 crypto trading pairs, with plans to add more pairs in the near future. In a cryptocurrency bull market, most of these coins are likely to show significant growth. However, this article has identified the top 3 crypto assets that could outperform all the other coins in this bull run. While the list of trading pairs on Bityard is extensive, this article focuses on 3 projects that seem to be in a particularly strong position.
1. Cardano (ADA)
Cardano can be traded on Bityard through the ADA/USDT pair. This pair has been on a steady horizontal movement throughout the month of January, until the beginning of February when it experienced a trend reversal. It has since been on a steep upward trend, only falling 15.07% in the recent dip of the first week of March. The trend reversal can be attributed to the 3rd February announcement that the Cardano network would be upgraded through the Mary hard fork, which brought custom token support to the Cardano blockchain.
As can be seen from the price chart, ADA/USDT has been trading within a narrow uptrend. It managed to briefly pierce through this boundary in the last week of February when it hit a new all-time high of $1.48. The mainnet launch of the Mary upgrade means that the Cardano network would now be able to handle custom tokens, a welcome addition to the crypto space as traders seek Ethereum alternatives. The green area shows that ADA/USDT could be headed to the $1.5 – $2 range within the next few weeks.
2. Chainlink (LINK)
Chainlink can be traded on Bityard via the LINK/USDT pair. The price of the LINK/USDT pair has taken a hit in the recent few weeks, going low to test a support area at $22.8645 just at the beginning of March. However, the pair responded positively to the recent announcements about the network upgrades made to Chainlink. From the price chart, LINK now looks like it is headed to pierce through its all-time high price of $37.0755. Traders and investors could definitiely see the recen announcements as bullish, so new all-time highs are not out of the question for LINK.
The news driving LINK’s bullish trend is that of a recent scalability upgrade with the launch of Off-Chain Reporting (OCR). OCR is expected to improve scalability, security, efficiency and performance of the Chainlink network. Effectively, this will reduce gas prices by up to 90% and increase the amount of data that can be brought on chain by up to 10 times.
3. Basic Attention Token (BAT)
From the very beginning of the year, the BAT/USDT pair on Bityard has consistently shattered through key resistance areas to set new all-time highs while at the same time creating new areas of support. This is a sign of a very bullish trend.
The major up-down price swings that were experienced mid-February were a great opportunity for traders to buy low, sell high, take profits, repeat. The price chart shows how BAT/USDT swung from $0.2 to $0.6 and back to $0.4 in a space of a few weeks.
BAT is the native token that powers the Brave web browser, and Brave recently announced their plan to integrate a Decentralized Exchange (DEX) aggregator and NFT support in the Brave Browser. With the project also working on a decentralized exchange aggregator, BAT could consolidate into a bullish trend while maintaining the up-down price swings that give traders the opportunity to buy low and sell high.
