This article is a monthly report on the 2 Altcoins that performed best (uphill and downhill) over the past month.
We will try to analyze the fundamental reasons for these unusual movements. Remember that these are not investment advice
Top Gainer Coin for March 2019
On March 24, EVX was trading at about $0.29. At the end of the month, the crypto was at $1.23, posting a gain of more than 300% over the past 48 hours. EVX has a market capitalization of just over $27 million, making it the 140th crypto in terms of marketcap.
Not only is it 2019 high, but it is also the crypto that has reached its highest level for more than 10 months.
The main source of liquidity and the main market for EVX trading comes from Binance - the world leader in crypto trading. It reports an EVX/BTC transaction volume of more than $145 million over the last 24 hours, which represents nearly 92% of the total volume of transactions made by EVX during this period.
Why is the price of EVX rising so high?
In addition to the fact that the Altcoin season has begun, which generally favours violent price movements, the main reason for the large EVX pump may be related to recently published news.
Indeed, Everex announced that its project has succeeded in obtaining approval from the State of New Jersey in the USA to embark its users and carry out national and international transactions from crypto to crypto.
If it seems so important for the price, it is because Everex is first of all a Singapore-based company that focuses mainly on the Asian markets. Therefore, exporting and obtaining approval for its technology in the United States significantly expands the impact of the project.
Big news of this kind tends to cause prices to fluctuate significantly, although it is important to note that an increase of more than 280% in 48 hours is something we can only observe from a distance. It is therefore not recommended to enter into an EVX position.
Top Looser Coin for March 2019
Bitcoin SV (BSV)
BSV is not the crypto that has fallen the most during the month of March, but it is one of the most important crypto in bad shape, so we have seen fit to tell you about it.
The BSV lost only 1.86% in March, but its losses compared to Bitcoin were much higher and amounted to almost 9%. The constant pursuit of other projects could be one of the reasons why a majority of investors have withdrawn their investment from BSV.
Craig Wright, the creator of the Bitcoin SV project, got very angry on Twitter (his Twitter account was deleted as I write these lines) and threatened to sue those who did not accept him as the creator of the famous, but no less mysterious Satoshi Nakamoto Bitcoin. He also said he could destroy cryptoes like Monero or ZCash by helping authorities arrest users of these anonymous cryptos.
Although the BSV market currently appears to have stabilized, it is possible that its decline will continue in the coming weeks and we advise you not to enter into these market conditions.