7 Cryptos to Buy as Bitcoin Reaches New Heights in March

The cryptocurrency market has been on fire lately, and the price of industry-leading Bitcoin has skyrocketed to an unprecedented amount of $70,000 last week. This record rise aligns with the introduction of spot Bitcoin exchange-traded funds (ETFs) in the US, marking a fundamental shift in investor sentiment. Additionally, in January the US Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETFs, fueling investor optimism around buying cryptocurrencies.

Since October, Bitcoin has witnessed a value increase of over 150%, an upward trend reflected in both major and minor cryptocurrencies. Furthermore, apart from the evolution of ETFs, the improvement in investor sentiment in cryptocurrencies is linked to the possible drop in interest rates in the coming months. The digital currency landscape is evolving, driven by regulatory advances and changing investor perspectives, pointing to a remarkably bright future ahead. That being said, here are seven of the top cryptocurrencies to buy that offer huge advantages going forward.

Ethereum (ETH)

Ethereum (ETH-USD) is up over 50% year-to-date (YTD), indicating a similar upward trajectory as BTC. Likewise, optimism in ETH is fueled by anticipations that the SEC will greenlight Ethereum ETFs by next summer. Following the SEC's approval of Bitcoin ETFs earlier this year, the regulatory body has a deadline in May to decide on the fate of the Ethereum ETF. Such approval is set to act as a major lever for the value of ETH, simplifying investment in the crypto space for individuals and institutions.

The completion of the Ethereum merger was a big moment, however, Vitalik Buterin, co-founder of Ethereum, has stated that the project's development journey is only halfway done, with 55% completion. This statement sets the stage for more advancements in the Ethereum ecosystem in the near future. Add to this the potential for spot ETF approvals and we have a remarkably vibrant outlook for ETH going forward, indicating solid growth ahead.

Solana (SUN)

solarium (SOL-USD) is arguably one of the leading platforms in the decentralized finance (DeFi) sphere and a formidable competitor to Ethereum's dominance in the sector. Solana's powerful blockchain platform facilitates various blockchain applications, from non-fungible tokens (NFTs) to web3 applications, reinforcing its key role in the sector.

Furthermore, the platform's valuation has seen a meteoric rise, rising more than 657% in the last six months, complemented by a year-to-date increase of over 46%. This growth trajectory underscores Solana's strong performance and its growing appeal among cryptocurrency investors. Furthermore, data from DeFiLlama indicates that the decentralized exchange Trading volume in Solana on March 3 and March 3. 6 surpassed the $2 billion mark. It culminated in a peak daily trading volume of $2.85 billion on March 5, setting a new benchmark for the platform. Therefore, with the dynamism of Solana's DeFi ecosystem, it is expected to thrive in an increasingly competitive market landscape.

Zilliga (ZIL)

Zilliqa (ZIL-USD) stands out as the pioneer blockchain to implement sharding technology. Basically, sharding improves the speed of transactions by breaking them into smaller groups for miners to verify simultaneously. This innovation speeds up transaction processing times while ensuring Zilliqa has significantly lower transaction fees than its counterparts.

Furthermore, the utility of the ZIL token within its ecosystem is another critical aspect that underpins its value. ZIL is essential for operating decentralized applications (dApps) on its network, implying that demand for cryptocurrencies could increase alongside the growth of dApps.

Additionally, Zilliqa features an attractive annual percentage rate (APR) to stake tokens, currently standing at a solid 10.35%. Therefore, in the lucrative cryptocurrency space, a high APR means a profitable opportunity for investors to earn interest on their holdings.

Dogecoin (DOGE)

Dogecoin (DOGE-USD) is a cryptocurrency that originates from a viral internet meme of a Shiba Inu dog, which continues to attract attention with its performance. Adopted by a huge online community, the value of DOGE has increased 85% to date, thanks in part to the growing interest in meme coin trading. Furthermore, with a 160.50% increase over the past six months, Dogecoin's rally extends beyond BTC, highlighting a broader crypto market rally.

Furthermore, the momentum behind DOGE is further underlined by its record futures trading volumes, which reached a whopping $1 billion. Surprisingly, 70% of these operations foresee an increase in the value of the currency. This speculative activity reflects the large influence of social media and online forums on Dogecoin market movements, showing the power of community support and market performance.

BNB (BNB)

BNB (BNB-USD), is the native cryptocurrency of the Binance trading platform, which is positioned for notable growth amid optimism in the cryptocurrency bull market. As the world's largest centralized exchange by trading volumes, the platform's fortunes are tied to the vitality of the crypto market. Therefore, given the increased trading and speculative fervor, the BNB coin is expected to witness a healthy rise in its value.

The platform's resilience and growth trajectory is further demonstrated by a considerable 30% increase in its user base last year, bringing the total number of accounts to the staggering figure of 170 million. Despite facing regulatory setbacks, Binance's continued expansion and user engagement indicate a promising outlook for the BNB coin. This growth narrative not only highlights Binance's dominant positioning, but also underlines the potential of the BNB coin as one of the top cryptocurrencies to buy.

Algorand (SOMETHING)

Algorando (ALGO-USD) has made great strides in blockchain, emphasizing decentralization and security to ensure that no entity dominates its network. Recent updates have ushered in dynamic round timing, catapulting ALGO to rival the transaction speeds of giants like MasterCard (NYSE:MOTHER). Besides, The United Nations Development Program (UNDP) has allocated ALGO will spearhead blockchain education, increasing its appeal.

Improvements in network performance and reduced blocking time have strengthened Algorand's position as a developer-friendly platform. As we move forward, Algorand's strategic token staking plan aims to distribute 2.5 billion tokens as staking rewards, effectively managing ecosystem support and controlling inflation to induce scarcity. Additionally, a $10 million grant from the Algorand Foundation aims to bolster support for ETH, representing a promising effort to strengthen both blockchain networks. This helps make it one of those cryptocurrencies to buy.

Chain Link (LINK)

Link of the chain (LINK-USD) is known for its pioneering role as a decentralized oracle network, efficiently linking smart contracts with real-world data. Amid optimism in the cryptocurrency market in recent months, LINK is up a staggering 200% year to date. Furthermore, 2024 promises to be a historic period for LINK, which is Noted for its expansion. of its Cross-Chain Interoperability Protocol (CCIP). This expansion is designed to meet the rapidly evolving needs of the capital markets, making the shift to blockchain technology.

Chainlinks make it easy to build a network of networks capable of seamlessly connecting data across different blockchains and smart contracts. Achieving this interconnection amplifies the utility and value of cryptocurrencies while revolutionizing the digital payments ecosystem. As Chainlink fosters this data integration, it improves the functionality of the digital finance landscape, making it one of the best cryptocurrencies to buy right now.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com. Publication Guidelines