As the third month of 2023 approaches with the sentiment of careful optimism on the cryptocurrency market, many crypto traders and investors are analyzing the landscape, trying to discern which digital assets are worthy of their attention in the following few weeks.

With this in mind, Finbold has examined the latest developments connected with some of the most promising crypto assets and arrived at a list of the top five cryptocurrencies to pay attention to as March unfolds, in no particular order.

SingularityNET (AGIX)

Riding the wave of the renewed popularity of artificial intelligence (AI) technology thanks to the text-based AI platform ChatGPT, SingularityNET (AGIX) has made strides since the year’s turn, further expanded by other positive factors, such as the beta test launch of the project’s Cardano staking portal expected in March.

As things stand, AGIX is currently trading at the price of $0.41, which represents a modest increase of 1.62% on the day and 2.04% across the week but a significant gain of 131.11% over the previous 30 days and an even more impressive year-to-date (YTD) advance of 794.75%, also making it one of the top 5 AI cryptocurrencies to watch in March.

Meanwhile, Cardano (ADA) has stood out for the continuous efforts of its team on network development, most recently placing it in the top position among all crypto projects in terms of weekly development activity on GitHub, recording 541 entries in the week leading up to February 26.

At press time, however, Cardano was recording a minor loss of 0.26% on its daily and 9.45 on its weekly charts, in addition to losing 7.24% but still holding on to the year-to-date (YTD) winnings of 25.51%, as it was changing hands at the price of $0.36.

Optimism (OP)

Optimism (OP) has been one of the beneficiaries of the news that Coinbase was launching its own Layer 2 network for Ethereum (ETH) using Optimism-based technology, which has allowed the OP token to record gains across multiple observed periods.

Indeed, thanks to the cryptocurrency exchange’s use of Optimism’s open-source stack for developing its Layer 2 sidechain, the OP token has raced 217.52% since the year’s beginning, in addition to adding 1.67% on the day, 13.39% across the week, and 28.86% in a month, and is currently trading at $2.93.

Ankr (ANKR)

The year so far has been nothing but success for the liquid staking token Ankr (ANKR), as it has recently announced a deal with technology giants Microsoft (NASDAQ: MSFT) and Tencent with an aim to support further blockchain development and adoption.

As for its price, it is currently writing down a modest decline of 0.66% on the day, but its growth in other periods is significant, including gaining 35.32% over the week, 55.58% across the month, and 182.18%, as it is changing hands at the price of $0.04.

Stacks (STX)

Bringing decentralized apps (dApps) and smart contracts to Bitcoin (BTC) and allowing dApps to perform more operations than regular apps, Stacks (STX) has recently received a boost from the Bitcoin Ordinal hype, as the non-fungible tokens (NFTs) flooded the sector with images, video games, and other content.

At press time, STX is trading at the price of $0.92, recording a growth of 22.69% over the previous 24 hours, 55.16% over the past seven days, and a whopping 209.14% during the month, as it raced 333.65% since January 1, according to the latest data retrieved on February 27.

Conclusion

All things considered, the further success of the above cryptocurrencies will depend largely on the continuation of their teams’ positive efforts and developments directly connected with the digital tokens themselves, as well as the outside factors such as the general atmosphere in the cryptocurrency market and on the wider macroeconomic stage.

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As a fast-growing technological asset, there are innumerable benefits of long-term crypto investment. To begin, 

Aids Withstand Volatility – The crypto market sways with margins dipping and rising incessantly. Investing long-term is a good way to manage the volatility and derive greater potential profits over time.

Enjoy Advanced Functionality – The crypto market is constantly evolving for the better. It is growing to have more real-world implications, and this is bound to make it highly valuable. Staying put longer brings better opportunities to capitalize over time. 

Help Beat Inflation – Conventional currencies are greatly affected by inflation. Crypto is scarce, widely acceptable, and durable, thus these factors may help it beat the rising inflation. 

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The crypto market has emerged from the backwaters of mainstream finance to quickly grow in prominence. However, it still requires careful evaluation. Here are some aspects to note before investing:

Price Swings Are Common: The crypto market is dominated by price swings. Dips and highs are common from time to time. This is due to the fact that crypto-assets remain largely unregulated to the day. There are no institutions that dictate or control the value. The volatility is unlikely to go away. But again, volatility and non-central control is what stands at the cusp of the crypto world. 

Great Effects of Market Trends: The ongoing market trends have a heavy influence on the performance of crypto assets. They greatly sway based on economic performance and public conspiracy. To be smart and well-informed about the best cyptos to invest in, you must keep a close watch on the news or predictions that swirl around a given crypto asset. 

Pay an Eye to Asset Security: As you must already know, cryptos are unregulated and not secured by a central authority. This means that you must be extremely cautious when investing and holding on to your assets. A reliable platform can help you trade and maintain your assets with ease. Additionally, you must always take measures to keep your information and passwords confidential. 

Making Predictions is Tough: The crypto space is still growing, and the fluctuations have been difficult to track. The value of this industry is believed to only thrive over time. However, it also continues to be a closed bubble that is driven by impossible implications. It is quite a task to predict the play of the industry unless you constantly stay on guard. 

Current Market Scenario: At present, the crypto market has been significantly hit. Its value has heavily plummeted to more than half of the recorded value back in January 2022. This sudden drop can be regarded to the ongoing financial market fluctuations. The Indian rupee is hard hit in comparison to the US Dollar, the Sri Lankan economy is at great risk and there is political conflict in Ukraine-Russia. All these factors are heavily influencing crypto stability as investors are undertaking asset sell-offs. However, experts do believe that the crypto class will overcome this phase to shine bright over time. 

#cryptoinvestor #cryptotrading #crypto2023