The cryptocurrency market has had a tumultuous few days. The closure of three US banks in recent days has triggered more stress that also affects the crypto arena, especially stablecoins. In this article, we have compiled the top altcoin picks for the week of March 13, taking into account various factors such as positive technical developments, important news, and noticeable changes in price.
These 5 altcoins could be the star of the week with upcoming important developments
Kava (KAVA), a Web3-focused altcoin project, gained around 30%, possibly due to newly launched validator incentives. This program provides incentives to become a validator (operator responsible for validating transactions in a network) in the Akash Network.
To power this initiative, @ovrclk_ (the creators of Akash) pledges 2,500,000 AKT to the Kava Strategic Vault to fund Kava validators who migrate their deployments.
These incentives are available to any validator who completes the steps below. ⤵️
— Akash Network (@akashnet_) March 7, 2023
The price hike followed the news that Akash’s founders pledged 2.5 million AKT, that project’s native token, to Kava’s Strategic Vault. KAVA started the week at around $0.78 and is currently trading at around $1.20.
UNUS SED LEO (LEO)
Bitfinex’s UNUS SED LEO token rose nearly 15% amid news that multiple new tokens were listed on Bitfinex. After seeing a sharp correction, the altcoin failed to capitalize on the March 14 market rally and is currently hovering around $3.45.
aptos (APT)
The price of Aptos (APT) gained more than 10% after the launch of an NFT bridge over Wormhole, the messaging protocol that allows users to transfer NFTs between the Aptos Network and other supported chains.
📢 Introducing Primary Names! 🎉
👥 Do you own multiple names on Aptos? Now you can assign the specific .apt you want as your Primary Name! This one true [You].apt will be displayed for your address across the entire Aptos ecosystem. pic.twitter.com/5A2OceAluF
— aptosnames.apt (@aptosnames) March 2, 2023
cryptocoin.com As we have reported, the price continues to rise with the Binance announcement of the day. APT price is currently trading at $14.2, up 15% in the past 24 hours.
Another reason behind the APT rally could be a report from crypto analytics firm Messari that says Aptos has the fastest time to certainty (TTF). This metric determines how long it will take for a transaction to be finally accepted on a Blockchain. Aptos and Avalanche are TTF winners among current networks, according to Messari.
BNB (BNB)
BNB’s market cap rose more than 5% last week, rising from $44.9 billion to $47.5 billion. The gain came following the announcements made by Binance CEO CZ. Changpeng Zhao said his exchange has turned the remainder of its $1 billion Industry Recovery Initiative fund into other assets, including BNB, BTC and ETH.
Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency.
— CZ 🔶 Binance (@cz_binance) March 13, 2023
BNB price is gaining around 3% in the market-wide rally. In the last 7-day time frame, it had the opportunity to recover in double digits. The Binance-backed altcoin is trading above $315 at the time of writing.
PAX Gold (PAXG)
The market capitalization of PAX Gold (PAXG) rose more than 5% last week from $500.7 million to $526 million. One possible reason for the market capitalization increase is that investors are turning to more traditional assets (even if set) at a time when global markets are uncertain. PAXG started last week at $1,851 and is currently priced at around $1,938.
Bitcoin price (BTC) rose to $26,422.21 after the US February inflation data dated March 14. cryptocoin.comIn this article, we have included the details of the US CPI data announced today and expert opinions on the 22 March Fed meeting.
