We have barely completed the first quarter of the year 2021 and a number of crypto projects are already making significant headway in upgrading their networks. The announcements of these upgrades are expected to strengthen their market position. Additionally, these developments are also expected to increase the amount of attention/publicity on these projects.
Both the technical and fundamental analyses 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 of total market capitalization of the crypto market, total value locked in DeFi platforms, institutional interest in crypto assets, among other things. Evidently, most altcoins will grow with this bull wave, however, some altcoins are expected to grow exponentially faster and bigger than others.
The Bityard trading platform currently lists 32 crypto trading pairs, with plans to add more pairs in the near future. Most of these coins are anticipated to be profitable investments. However, this article has identified the top 3 assets that are highly likely to outrun all the other coins in this bull run. While the list of trading pairs on Bityard is plenty, this article is focusing on only 3 projects whose price analysis for the year 2021, and recent network upgrades to the projects are a strong indicator of the strengthened market position of these projects. Therefore, it is important that traders keep an eye on them.
- Cardano (ADA)
Cardano can be traded on Bityard as 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 integrated with the Mary upgrade which would enable smart contract functionality.
As can be seen from the price chart, ADA/USDT has been trading within a narrow uptrend. It managed a brief piercing 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 run DeFi applications, a welcome addition to the crypto space as traders seek Ethereum alternatives. The green area shows that ADA/USDT is headed for $1.5 - $2 range within the next few weeks.
- Chainlink (LINK)
Chainlink can be traded on Bityard as 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. It is definitely anticipated that traders and investors will respond bullishly to the recent announcements. Therefore, a new all-time high is within the horizon.
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 the 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.
- 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 in 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 BRAVE browser, and Brave recently announced their plan to integrate a Decentralized Exchange (DEX) aggregator and NFT support in the Brave Browser. The upcoming Decentralized Exchange (DEX), with BAT as the native token is anticipated to explode BAT’s trading volumes, which will, in turn, consolidate the bullish trend, while maintaining the up-down price swings which is an opportunity to buy low and sell high.
This article also appears on techbullion.com
